Sen. Corina Magofna smiles during the 23rd Senate’s sine die session on Jan. 3, 2025.
TWO members of the 24th Legislature leadership have joined the Department of Commerce in promoting a “business-friendly” CNMI.
Last week, Commerce, with assistance from the Economic Recovery Corps, launched a business readiness initiative to help local businesses track and boost their sales.
Commerce Secretary Remedio C. Mafnas and Registrar of Corporations John David A. Reyes also announced the reduction of business filing fees by 25%.
Mafnas said they are now working with the 24th Legislature to reduce penalty fees for businesses that have failed to file, register or submit required documents.
Sen. Corina Magofna, who chairs the Senate Committee on Resources, Economic Development, and Workforce, and Rep. Thomas John Manglona, chair of the House Committee on Commerce, recently met with Mafnas to discuss “initiatives aimed at promoting economic development and improving business processes in the CNMI.”
Magofna said the meeting, which lasted approximately three hours, included members of the business community, who shared challenges related to starting and renewing businesses.
“As chairs of the Senate Economic Development and House Commerce committees, we are collaborating with Commerce and other government agencies on initiatives to promote and foster a business-friendly CNMI,” Magofna said.
She said they will also collaborate with Commerce in hosting a town hall meeting soon, “so that all businesses can participate and share their concerns as well.”
“We’re hoping and planning to hold the town hall meeting sometime next month. The objective is to get a better understanding and pulse of our business community so that we can work with the appropriate government stakeholders to improve and enhance the business experience. It’s part of our initiative in promoting and fostering a business-friendly CNMI,” she said.
