GUAM SPEAKER CALLS FOR BUSINESS DEVELOPMENT

HAGATNA, Guam (Pacific Daily News, Jan. 31) - Developing local industries and helping local businesses could generate money and jobs here, Speaker Ben Pangelinan said yesterday during the weekly legislative radio address.

"At a time when we look outside Guam, spending tens of millions of dollars in marketing to tourists, giving away hundreds of millions more in tax rebates over 30 years to attract outside investors, we need to look inside Guam and provide the same assistance for our own local investors as they struggle to survive and provide jobs for our people," he said.

Pangelinan, D-Barrigada, gave examples of how the island can steer away from importing products and luring off-island investors, and instead, develop and invest in local industries that could provide jobs and keep the money circulating on island.

"We need to build local businesses like this and work to spin off other businesses that service them," he said.

"We look at every opportunity like this and other avenues to invest in Guam to enhance our economy."

January 31, 2003

Pacific Daily News, www.guampdn.com/

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