by Mindy Aguon
Guam - The economic benefits of buying local and growing the economy were the focus of today's Guam Chamber of Commerce meeting. Ambros president Frank Shimizu and ASC Trust Corporation president David John spoke on the topic. John said the island's future is bright but he stressed that the island must capitalize on the Marines relocation and create new industries such as turning the island into a hub for U.S. businesses in Asia.
The Chamber and the University of Guam have launched a buy local campaign in hopes the territory won't be so reliant on outside capital. "As companies, if each us left here today with a goal of increasing our local purchasing by 10% we could make an immediate impression. At my company in order to buy from an off island source, the goods and services must be unavailable on island or cost 20% less than locally," said John.
Shimizu also discussed various Department of Defense policies and said the Chamber wants to be a true partner and ensure that Guam benefits the most from the buildup.