Hopes fishery and construction will boost American Samoa economy
Updated at 11:16 am on 26 July 2013
The new administration in American Samoa is looking to boost the economy by developing the fishery and construction industries.
Governor Lolo Matalasi Moliga says the resurgence of the fisheries industry is a positive indicator that the American Samoa economy may be headed in the right direction.
But he says in order to make this industry competitive, it will be necessary for government to join forces with Congressman Faleomavaega Eni Hunkin to reverse the minimum wage and to provide federal incentives.
Lolo says capital injections outlined in the budget plan through construction projects will stimulate economic activitiy.
Additionally, direct employment initiatives in the next fiscal year will contribute to the growth of consumption, which will in turn strengthen business sales.
Governor Lolo also says government will aggressively pursue the implementation of its economic development program with a focus on promoting import substitution to remove the territory's high reliance on imports.
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