Governor details trade mission to Japan
Last week, Governor Eddie Calvo along with a delegation of officials made his way to Japan as part of the first of many trade missions to grow tourism and attract investors to Guam.
By KUAM NewsGuam - Last week, Governor Eddie Calvo along with a delegation of officials made his way to Japan as part of the first of many trade missions to grow tourism and attract investors to Guam. Japan isn't only the third largest economy in the world, but Guam's biggest investors in terms of tourism for the past 40 years.
After a week in the Land of the Rising Sun speaking with investors regarding both the tourism industry and military buildup on Guam, the island's chief executive and members of his trade delegation spoke today of the success and possible future plans for Guam's economic development. Calvo says with the realignment of forces in the Pacific and the treaty signed by the U.S. and Japan governments for the military buildup spark interest in Guam.
"We had some fruitful talks and discussions not only on the private sector over there, but also with key government officials both from the Ministry of Defense, the Ministry of Foreign Affairs, the Ministry of Infrastructure and these are critical government agencies that have a connection to Guam," said Calvo.
Outside of the buildup projects, governor's advisor for economic development Henry Taitano says potential investors became interest in other aspects of Guam including nearly 60 from large businesses present at the Japan Association of Travel Agents' Tourism Forum and Travel Showcase. He told KUAM News, "These companies are a conglomeration of companies so what you have are diverse industries that they can get involved with; when we start talking about technology, agriculture, research and development, partnerships with UOG, GPA and GWA. There are other opportunities along side the buildup that they can invest or reinvest in."
The trade mission consisted of Governor Calvo, Taitano, chief of staff Frank Arriola, Consolidated Commission on Utilities chairman Simon Sanchez, Guam Housing and Urban Renewal executive director Marcel Camacho, Guam International Airport Authority executive manager Mary Torres, Guam Economic Development Authority administrator Karl Pangelinan and local businessmen Tor Gudmensen and John Pagliosotto.
Other noted points were Guam's real estate opportunities along with GEDA's progress in packaging not only local government land but private property, as well.
In order for Guam to be globally competitive, the governor presented invested with the 2010 Guam Statistic Yearbook, which was completed by the University of Guam, GEDA and the Bureau of Statistics & Plans. BSP director Tommy Morrison says down the road, the yearbook will provide a strategic roadmap on both the socioeconomic and demographic information of Guam. "Local businesses, local investors, government organizations Now have access to a complete comprehensive sourcebook for a snapshot benchmark on the successes or highlighting potential growth of Guam," he detailed.
Calvo says Guam is open for business and hopes his message was clear that he has tremendous confidence on potential opportunities waiting for them. "We have a billion dollars in local and federal construction projects already ongoing," he explained. "Of that, only $89 million is the Mimizu project, so you see what the potential is."
Taitano adds that the trade mission proved to bring up more ideas regarding Guam's sports tourism and possibly a reverse trade mission after many Japan investors heard more of Guam. The governor will make his next trade mission to the world's second largest economy - China - this year.