THE Saipan Chamber of Commerce “strongly supports” House Bill 22-21, which proposes to transform the Commonwealth Development Authority into the Commonwealth Economic Development Authority, a government agency that will be “proactive in pursuing industries and investments” to strengthen the CNMI economy.
The legislation aims to “strengthen the tools and powers of the CNMI government to promote and expand economic development.”
In his letter to the bill’s author, Rep. Angel A. Demapan, chamber president Joe C. Guerrero said, “We believe that the Commonwealth Development Authority is best positioned to promote, expand, and enhance economic development in the CNMI.”
He added that through its transition to CEDA, this new entity “will have the tools it needs to support new business development, promote the expansion and retention of existing businesses, and allow the CNMI’s private sector to thrive.”
H.B. 22-21, Guerrero said, “is truly a revenue-generating bill, as it allows for new dollars to enter the Commonwealth to grow our economy and support our families.”
During its session on Tuesday, the House of Representatives placed H.B. 22-21 on the bill calendar for action in the next session set for Friday.
Demapan envisions CEDA to be “the primary agency tasked with the economic development of the Commonwealth, and to be empowered to undertake this mandate with the flexibility to become proactive in the pursuit of industries and investments that will strengthen the CNMI economy.”
Rep. Angel Demapan, left, confers with Rep. John Paul Sablan during a break from a House session on Tuesday.
Photo by Emmanuel T. Erediano
