Guam - Local businessman Pete Sgro, Jr. has been elected by the Governor's Council of Economic Advisors to serve as its chairperson while banker Phil Flores and David Leddy were elected as vice-chairs. The council doesn't plan on banking on the buildup, but rather plan on helping businesses navigate the maze of regulations and permitting processes, seek an exemption of the Jones Act, develop the captive insurance industry and pursuing the China-Visa Waiver.   

The council was created by executive order a year ago.