FLASHBACK March 27, 2000-2002

Bill revives financial aid to students[/B]

A new financial assistance scheme for local students pursuing higher education is under review in the House of Representatives again barely two years after the government cut funding for the existing program. Rep. Brigida Ichihara, chair of the Education Committee, has introduced a comprehensive measure that will set out the policy on various government-funded educational grants, including loans and aid Under House Bill 12-140, an assured funding of at least $3 million every year and a new scholarship office administered by the Northern Marianas College will be implemented to provide financial assistance to local students attending college here and elsewhere.

In what appeared to be the start of his political campaign, former Lt. Gov. Jesus C. Borja slammed the Republican Party for its failure to revive the economy, improve the quality of education and ease strains in CNMI-Federal relations. During Saturday’s fundraising event of the Democratic Party, Mr. Borja asked the people to begin asking what the present administration has achieved in all these three areas. “What is their plan to solve the economy? None. In improving relations with the federal government, what did they do? None. In education, what have they done? They may have done something but perhaps, they have taken us backward rather than forward,” he said. In evaluating the achievements of the Tenorio administration, he also urged the people to ask the same questions around.

59 foreign investors visit CNMI[/B]

With efforts geared toward the alleviation of the Commonwealth’s economic conditions, the CNMI played host to 59 foreign investors who traveled to the islands over the weekend for a two-day trade mission. The investors were invited over by Michael Kwan, chairman of the Hong Kong Entertainment Ltd., which operates the multi-million dollar facility Tinian Dynasty Hotel and Casino. The businessmen flew over from mainland China and Hong Kong to look around for possible investment opportunities in the Northern Marianas, said Tinian Dynasty Hotel General Manager Tom Liu. Mr. Liu said the delegation of 59 Chinese businessmen received warm welcome from local officials led by Gov. Pedro P. Tenorio and Tinian Mayor Francisco M. Borja.

Foreign investment to the CNMI continued its downward spiral as the Department of Commerce reported only three approved applications by foreign companies wishing to do business in the Commonwealth last year. On paper, the three companies represent only a total of $750,000 in foreign capital infusion to the Commonwealth. The foreign investment figure is far worse than the six registered in 1999 and the four approved foreign investments in 1998. Under Public Law 10-44, capital invested by foreign companies should not be less than $150,000 in a public organization and not less than $250,000 in a private investment. In addition to the foreign investment minimum, the Foreign Investment Office also levies a $100,000 security deposit for alien companies setting up businesses in the Commonwealth under PL 10-44.

Country of Peace baffles legislators[/B]

Questions over the intent of the Global Country of Peace to establish a “sovereign” state within Rota has left the Legislature with conflicting opinions about the organization, including unanswered questions whether it is a religion, a cult, or a legitimate scientific group. Most lawmakers interviewed after the presentation of the organization at the House of Representatives chamber expressed concern not so much with the doctrines and practices of the group or their plans to establish projects on Rota but on the political issue of sovereignty and the group’s request to be granted such. The group’s leader, whom they called His Majesty King Raja Nader Raam, led about 15 members of the group to the legislative presentation, where they were asked questions by lawmakers as to the group’s philosophy, intentions, and plans for Rota.