Morning sessions began with a panel of government speakers discussing the range of government programs and structures to promote economic development.
A crowded auditorium greeted the panelists, who represented four of the 10 federal agencies present at the conference, including the Department of the Interior, the Department of Agriculture, the Environmental Protection Agency, and the Small Business Administration.
The plenary session titled the “Business Round Table” featured businesspeople not originally from the islands who moved to the islands and established successful businesses.
They shared with potential investors and partners the stories of their success, illustrating some of the challenges and, more importantly, the benefits of doing business in the islands.
Speakers also offered lessons from their experience to interested partners with limited exposure to the different island business climates, repeatedly emphasizing the need to understand and respect the island cultures in order to be successful.
Two members of the U.S. House of Representatives, Madeleine Z. Bordallo of Guam and Eni F.H. Faleomavaega of American Samoa, were the keynote speakers during the conference luncheon.
Bordallo spoke about the need for developing new sources of energy in the islands.
Faleomavaega echoed his colleague’s comments by also emphasizing the need for alternative energy solutions and noting some remarkable developments in wind energy that may have practical applications in the islands — particularly in outer islands that do not need to generate massive amounts of electricity.
Afternoon sessions consisted of presentations developed by the island delegations.
These dedicated sessions, with each island jurisdiction having its own hour-long block, allowed island leaders to provide conference attendees with a deeper look at the variety of business opportunities and incentives for doing business available in their islands.
The panel for the CNMI’s session consisted of Secretary of Commerce Michael Ada, Lynn Knight, chairwoman of the Commonwealth Economic Development Commission, and Arthur Smith, president of Management Analysis Incorporated.
According to Knight, “There has never been a more business friendly environment” in the CNMI, citing the recent work of Gov. Benigno R. Fitial and Ada.
Ada continued the presentation by detailing the Comprehensive Economic Development Strategy for the CNMI.
The strategy, he noted, “will lay the foundation for economic development for the next five years.”
Smith offered more details on the public-private partnerships offered in the CNMI, including the development of Pinatang Beach Park on Rota, the renovation and improvement of the Tinian and Rota seaports, modernization and optimization of Saipan’s Power Plant 1, alternative energy solutions, and the redevelopment of an 80,000 square meter property in Garapan.
The conference ended on Wednesday, April 8, with a full day of business-to-business meetings facilitated by Interior staff, allowing attendees to meet individually to develop joint ventures and secure partnerships following the previous days of networking.
Over 300 meetings were scheduled, and even more were expected to occur as participants made multiple new connections at the conference.
Nik Pula, acting deputy assistant secretary for insular affairs, in his closing remarks, thanked the leaders of the delegations, the dignitaries from the diplomatic community, and the members of the U.S. Congress who traveled to the conference.
Pula also extended his appreciation to all of the businesses and organizations from the islands and around the world who attended.
“Your presence here is all the more impressive in these tough economic times,” he stated, “and it gives us all great encouragement as we face these challenges and opportunities together.”
The 2009 Conference on Business Opportunities in the Islands is the Department of the Interior’s flagship event to promote economic development in the U.S. territories and freely associated states and is featuring discussions of new developments in renewable energy, infrastructure projects, and tourism opportunities.
Attendees will have the opportunity to develop their networks, while learning about the growing business sectors and investment opportunities in American Samoa, the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, Guam, the Republic of the Marshall Islands, the Republic of Palau, and the U.S. Virgin Islands.
