The president however did not make clear what provisions in the regulation he wants to be amended but said he will make the regulations simple.
He said these changes will not need to be in a measure form but can be amended through a simple regulation.
He said the proposed changes will still be within the confines of the law but will make it more investor friendly.
Toribiong has been pushing for a new foreign investment law but efforts have been blocked by members of Congress.
Toribiong’s major economic development policy is to welcome new foreign investments.
“We need to bring Palau within the sphere of trade and commerce of the Asia Pacific region and the world we should not be afraid of foreign investors,” President Toribiong added.
He said what Palau needs is a broader base of foreign investment and assistance.
