KOROR (Palau Horizon) – To revitalize the economy of Angaur State, the government is eyeing to exempt the area from the foreign investment regulation.
President Johnson Toribiong told reporters that the government is also considering making the state a tax-exempt zone to help its economy boom.
He said
“The economy of Angaur is spiraling down, we need to revitalize it,” he said.
Tax exemptions will entice foreign investors to consider the state a location for businesses.
He added that the tax exemption can run for a certain period of time.
The president also noted that the Angaur Legislature can also be given the final authority in approving businesses.
The state has an area of 8 km² (3 mi²). Its population is 188 based on the population census of 2002.
Angaur is the site of major World War II battle site and there are many American and Japanese battle relics scattered throughout the island.Angaur is also well known forferal monkeys that is why it has been called Monkey Island.
From to 1909 until 1954 phosphate mining took place on Anguar, originally by Germans, then Japanese, and finally Americans.
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