HAGATNA — It is an opportune time for U.S. officials to visit the island, Guam Chamber of Commerce Chairman Carl Peterson said. “I think it will be a good idea because they (U.S. officials) will set a mandatory structure which all parties would have to abide by in order for a bail-out to be given to Guam.
“This would mean it would probably have to structure the government to make it more efficient, more cost-effective and smaller,” Peterson said.
The U. S. officials will have a firsthand impression of how Guam’s economy has been affected by the low numbers of tourists visiting the island.
Financial advisors from the Department of Interior plan to arrive on Guam in about two to three weeks to review the island’s private and public sectors.
Doug Baker, Commerce deputy assistant secretary for service industry tourism and finance, and Helen Marano, director of the Office of Travel and Tourism, will also be on Guam and Saipan for at least four days meeting with tourism and elected officials, according to Cong. Robert A. Underwood.
The Chamber will host an economic conference on Friday at Hilton Guam Resort & Spa to discuss options that may be suggested by the private sector to augment the present financial crisis in the government.
The mandatory structure will include restructuring Guam’s tourism promotion, and provide for ways to have better access to capital and greater incentives for investors.
Peterson said he is hopeful that all those invited can attend without a political agenda to open the door to frank discussions.
Guam Gov. Carl T. C. Gutierrez and his cabinet members, the Legislature, Board of Directors of the Chamber of Commerce, and members of the business community are expected to participate at the summit.
