GEDA board OKs $70K for Shanghai office - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA board OKs $70K for Shanghai office

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by Mindy Aguon

Guam - Expanding their horizons to find potential investors for Guam, the Guam Economic Development Authority is looking to open up an investment office in Shanghai. The GEDA board has approved the idea as agency officials said the office would allow the agency to pursue economic initiatives and investment opportunities in Shanghai.

GEDA intends to partner with the Guam Visitors Bureau that currently has an office there.

GEDA business development manager Lester Carlson told KUAM News, "With the board's approval, we would embark on a series of well planned well researched trips either in conjunction with the governor's upcoming trade missions, or in conjunction with GVB's promotional activities, or if there is a very solid investment opportunity that warrants GEDA's presence to further solidify and further research and come back to the board."

GEDA has set aside $70,000 for the initiative but the board made it clear today that they want more information about the agency's plans to build relationships and pursue investment opportunities.

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