Chinese Investors Tour CNMI, Look At Possible Business Ventures

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Those that invest $500,000, create 10 jobs, can obtain Green Cards

By Frauleine S. Villanueva

SAIPAN, CNMI (Saipan Tribune, June 3, 2015) – A group of about 30 Chinese investors arrived in the CNMI to tour around and look into possible business ventures on the island.

The group arrived last Saturday morning and before flying off last night attended a business seminar headed by Atty. Janet King at the Pacific Islands Club Saipan.

Also in the seminar to welcome the investors were Lt. Gov. Ralph DLG Torres, acting Commerce Secretary Dave Maratita, and Saipan Chamber of Commerce president Alex Sablan.

"This is the best place to bring families and investments. In behalf of Gov. Inos, we welcome all investors here and we also want to thank you for your effort," Torres said.

The CNMI is ready for your investment and we will protect your investment…Let’s have a good working relationship," he added.

At the seminar, the EB-5 program was introduced and discussed with the group.

Under the program, at least $500,000 must be invested in a U.S. business and create at least 10 full-time jobs. This will give the investors and their families a chance to earn green cards.

"The Department of Commerce supports these kinds of events in behalf of the government," Maratita said, "It’s a good start for infusing more investment in the CNMI by having this business or investment seminar. Hopefully the EB-5 program that Atty. Janet presented tonight provided more clear information."

"It’s positive whenever anybody is trying to invest in the CNMI," Sablan said.

The group of investors was led by Yibo Hu, general manager of the DaHeshi Entity, which recently acquired the Gold Beach Hotel in Beach Road, Garapan.

According to Hu, the investors all came from their province of Henan in China. He said most of the investors in the group have real estate and construction business.

"I just bring them here to let them know about Saipan so in the future they can either do business partner with me or they can do their own business," Xuankun Li translated for Hu.

Last fiscal year 2014, the EB-5 program of U.S. for China became unavailable around August after the maximum number of China EB-5 applicants was reached.

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