6 Jan 2009

American Samoa Chamber of Commerce monitors federal fund flows

12:06 pm on 6 January 2009

The American Samoa Chamber of Commerce says it will monitor the local economy closely along with the government in light of any possible federal cut backs in funding.

This comes as the US economy has slipped into recession.

The Chamber's president David Robinson says American Samoa is fortunate enough to have a great deal of federal funding coming to the territory to cushion any major effect on the local economy in 2008.

However, he says American Samoa needs to closely watch the activities of the two canneries in view of the recession as the two companies could face difficulties to sell their products.

Overall in 2009, Mr Robinson says he is fairly confident the local economy will hold together.

He says some good signs for this year include the proposed fibre optic cable project that is expected to link the territory to Hawaii.