Several years ago, it was flourishing. Lots of people were working and the government was enjoying good revenue. Salaries in the government were high and it was picnic and parties just about every weekend. It was heaven here in the CNMI. Sabalu Market in Susupe and Walk of the Marianas street market were teeming with customers. Locals and tourists were bumping into each other, lots of buying, lots of eating, food was being bought and disappearing so fast that some vendors wrapped up their stalls early, and the music was hot, techno and reggae. Mixed that with Tahitian, Hawaiian. The air smelled good.
Like what the Navy banner said at the Kobler airport and just about everywhere else during the naval administration: “Guam is good, but Saipan is Better.”
We felt good. The economy was very good. But we were accused of being inattentive to factors around the world which affected the world economy, and we were part of that world.
All of a sudden, something happened, and first to move out was the garment industry. Employees were being laid off, employee barracks and apartments began emptying. Income started slowing down.
By the time the Fitial administration took over, there wasn’t any money in the coffers. Even the revenue from the poker machine started declining.
This was the start of the famous “Domino Effect.” The number of poker machines started going down. One time, about 40 poker machines were pulled out of circulation. That’s a whole lot of revenue being chopped off.
So we crossed our fingers. We waited. We looked up to the sky. Something will come along to replace the disappearing revenue. Something has to happen. Our economic downslide continues. It is sliding down. It is now crawling at the bottom of the “Bell Curve.”
But now something is poking its head on the horizon. Chinese investors. They came here on an investment feasibility study They looked at Saipan, Tinian, etc. They liked Tinian. On Saipan, there was talk that they wanted to buy either Grand Hotel or Coral Ocean Point. Why is it that investors like Tinian so much? New casinos are being proposed for that island. Even Ken Jones at one time had a dairy farm there. The Air Force wanted the runway and proposed a military barracks.
But what about Saipan? What about Rota?
Tinian seemed to be catching the investment influx. Even the latest Chinese investors are looking at Tinian to put up their casino. But the biggest concern for the Chinese investors was: what was it that made previous investors here fail? Can they put their fingers on that factor? Do we need expertise? What kind? Is there anything wrong with our economy or is it just the temper of the season? Not enough spending? Why?
Not enough innovative entertainments to retain the interest of the tourists so that they come back for another swig at Saipan’s offering?
We need a buying public, lots of them, both locals and tourists. We need investors. Lots of them. Market our islands again? Maybe we need a marketing expert, again. like what Continental Airlines did back in the 1970’s. They hired marketing expert Dr. Martin Pray from Hawaii. It worked. Dr. Pray and the rest of the Marianas Visitors Bureau took the Marianas to Japan to showcase us there.
The bureau fashioned several decals and mini-banners which stated: “MIKE WHO? MICRONESIA,” along with a large poster of the long stretch of white sand, the blue-green ocean, with a single lady sunbathing. It’s an invitation to come and join the lady on the long stretch of beach, enjoy the warm sun and swim in our cool colorful ocean water.
Saipan has nothing but “sun, ocean, and sand” as advertised by MVB. But is tourism our only remedy? Casino? How much could it help?
Investors want stability. But they are also waiting for Nov. 2011. If the guest workers cannot get a better status or be granted permanent residency, for sure they will go home. More dwindling revenue from their exodus.
Who is going to work for the businesses when they’re gone? How fast could the business recover from the exodus of foreign workers? Can we raise investment fees and taxes? That is not sound when our economy is floundering. We need investors.
May God bless the CNMI.
TEDDY GUIAO
Lower Navy Hill, Saipan
