Senate Floor Leader Corina Magofna speaks during the 23rd Senate’s sine die session on Friday.
THE chairman and the vice chairman of Senate Committee on Resources, Economic Development & Programs & Gaming last week expressed their gratitude to Coral Ocean Resort owner, Suwaso Corp. for partnership that “reflects a shared vision of progress and prosperity for the people of the CNMI.”
Senate Floor Leader Corina L. Magofna who joined Gov. Arnold I. Palacios and Lt. Gov. David M. Apatang in signing the new 40-year land lease deal with NMI government on Dec. 27, 2024, said that the efforts of Suwaso Corp., the subsidiary of Micronesian Resort, Inc. “have already contributed significantly to our local economy, creating valuable job opportunities for our residents and fostering economic development that strengthens the foundation of our Commonwealth.
Also present at the Office of the Governor’s conference room were Department of Public Lands Secretary Teresita Santos, House Committee on Natural Resources chairman, Rep. Angelo Camacho, Saipan and Norther Islands Legislative Delegation chairman, Rep. John Paul Sablan and Suwaso Corp. officials.
Magofna said that on behalf of the people of the CNMI, “we extend our utmost gratitude to Suwaso Corporation for its unwavering commitment to our community through its continued business investments. Your dedication to our partnership reflects a shared vision of progress and prosperity for the people of the CNMI.”
She also noted that beyond business, Suwaso Corp. “has demonstrated its commitment to the well-being of our community and enhancing the quality of life for our people through meaningful contributions and initiatives such as the community benefits outlined in the lease agreement.”
“As we look ahead, we are excited about the future opportunities this partnership will bring. Together, we are building a resilient, vibrant, and thriving CNMI that will benefit generations to come,” Magofna said.
“Thank you, Suwaso Corporation, for believing in the potential of the CNMI and for choosing to invest in our people and our future. We look forward to continuing this productive and mutually beneficial relationship,” she added.
Sen. Paul A. Manglona smiles as he delivers his remarks during the 23rd Senate’s sine die session on Jan. 3, 2025.
In a separate interview, Sen. Paul A. Manglona, the vice chairman of REDP committee also thanked Suwaso Corp. for the continued partnership. He said he supported the new 40-year land lease with Suwaso Corp., noting that the corporation has option to extend the lease for another 15 years, “so I’m okay with that.”
Manglona, as president of the 17th Senate, played a key role in the Legislature’s approval of the 15-year extension in 2009.
He recalled that he helped Suwaso Corp. get the 17th Legislature’s approval of the land lease deal that included a requirement to build additional 100 rooms. However, Suwaso Corp. under its previous board, was not able to comply with this requirement within the 15-year extension period, “and that was the reason I pushed for that provision in the new lease,” he said.
