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Regional News

Starting a Palau business guide update

KOROR (Press Release) — On schedule for the half-way point of the Starting a Business Guide Project, a draft website developed by student consultant Gus Henry was presented to Palau government agencies responsible for registering new businesses including the Foreign Investment Board, Social Security Office, Bureau of Immigration, Bureau of Labor, Bureau of Lands and Survey.

The Palau Chamber of Commerce and the Bureau of Commercial Development enlisted the help of Gus through Carnegie Mellon University’s Technology Consulting in the Global Community to develop a website for locals and foreigners interested in starting a business or investing in Palau.

Meeting with relevant government agencies to show the draft website and receive feedback.  Contributed photoMeeting with relevant government agencies to show the draft website and receive feedback. Contributed photo

This website will encourage local entrepreneurship by clearly illustrating the steps involved in making a business. Potential business owners will also be shown resources they can use, such as the Small Business Development Center and the Palau Chamber of Commerce. Foreign investors can also use the website to better understand the process for doing business in Palau and find on-island resources (i.e., construction, environmental assessments, etc.) for helping them with their investments.

Palau is world-renowned for the environment and culture, but by using this website as method to market Palau as a business destination we can draw the best investors and encourage Palauans to open their own businesses to expand the private sector of Palau.

As part of the project, student consultant Gus Henry will also create a mock database to demonstrate an online one-stop shop where applications from all agencies can be consolidated to reduce redundant forms. The website will launch this August.