Encely Ngiraiwet Executive Director of the Foreign Investment Board (FIB) said that the number of new investments last year is the same number of investments in 2008.
The FIB received 18 applicants in 2009, five of these applications for Foreign Investment Approval Certificates (FIAC) are pending.
The foreign investment applications range from software companies, resort, restaurants, hotels and space rental among others.
In 2009, the biggest foreign investor is the new airline, Pacific Flier.
The new Palau- based carrier plans to touchdown on Jan. 15 with flights to Guam, Philippines, Japan and Australia.
Aviation Matters, in the foreign corporation behind Pacific Flier.
A Philippine-based corporation has also been approved to start a ship lay-up service in Palau.
Although the FIAC has been approved, the company’s environmental impact assessment application is still pending before the Environmental Quality Protection Board.
According to the FIB application records, new investors are companies from Japan, Taiwan, Philippines and Australia.
Foreign investment in Palau is regulated by the Foreign Investment Act of 1990.
Under the law, an investor needs to invest at least $500,000 and requires that at least 20 percent of its workforce should be Palauans.
FIB reviews, evaluates and assesses applications. Ngiraiwet said FIB did not reject any applications this year.
