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‘Chamber will work with govt on tax incentives’
The Saipan Chamber of Commerce is willing to sit down with the administration of Gov. Eloy S. Inos to discuss potential incentives, including tax breaks, for private firms willing to hire public sector workers.
Chamber president Alex A. Sablan, speaking during the monthly meeting of the group on Wednesday, said the Chamber’s board of directors “looks forward to working with the Inos/Torres administration to effectively move progressive ideas forward to enhance our economy and livelihood for all that call the CNMI home.”
He added that the administration “has some great ideas as well, more specifically with regard to pursuing a transition of public sector workers into the private sector.”
“Some of the initial ideas such as tax credits or rebates for businesses to help defray the costs of this transition are noteworthy and we look forward to continuing this dialogue to develop a viable program that makes sense for all concerned.”
In an earlier interview, Lt. Gov. Ralph DLG. Torres mentioned that the government is looking at incentives, such as tax breaks, to be given to private firms that will hire government workers.
Torres said the government “encourages the transition to a more diversified labor force through the assistance of the CNMI tax structure.”
Torres, in a speech at the Chamber meeting, said he continues to encourage investments to come to the Commonwealth.
“The recent years have seen the CNMI Legislature remove long-held restrictions to viable business ventures, allowing the seeds of entrepreneurship to find new fertile ground in the CNMI.”
The official cited upcoming investments in the Commonwealth, including one “that is larger than any we have ever seen in the CNMI and unleashed because your government decided not to prevent the spirit of entrepreneurship from achieving its potential,” referring to the entry of casino proponent Best Sunshine International Ltd.
