Torres says he will sign CEDA bill

Gov. Ralph DLG Torres said Friday he will sign into law a bill that the Senate passed last Tuesday that will transform the Commonwealth Development Authority into the Commonwealth Economic Development Authority.

When asked for comments about the CEDA bill during a radio news briefing, Torres said he is just waiting for Attorney General Edward Manibusan’s recommendation to sign House Bill 22-21.

The governor congratulated the bill’s author, Rep. Angel Demapan (R-Saipan), and the Legislature for pushing this “really critical bill.”

“It’s [going to] be a great movement and I hope that this CEDA will entice good U.S. companies to come in and make that investment here in the CNMI,” he said.

Torres also commended Mike Sablan, chairperson of the Domestic Policy and Recovery Committee of the Governor’s Council of Economic of Advisors, and his team for “working so hard” on what they can do to entice private partners across the globe.

He said Sablan and his team at GCEA focuses on economic development. “They looked at just the permitting [and] easiest access, making it convenient for our business partners,” Torres said.

The governor said Sablan and his team, through the GCEA, have done a phenomenal job, and that the Saipan Chamber of Commerce also supported this legislation.

With all nine senators voteing “yes” Tuesday to pass H.B. 22-21, House Draft 1, the legislation now goes to Torres for his signature. The bill seeks to strengthen the tools and powers of the CNMI government to promote and expand economic development and to establish the CEDA.

Demapan said last week that the CEDA bill is a huge step forward for everyone who lives, works, and visits the Marianas. “As we work hard to overcome the challenges of the pandemic, I am focused on working with my colleagues to reinvigorate the economy, seek new revenue, and create more jobs for our people,” Demapan said.

The House unanimously passed the bill last March 25.

CDA’s current mandate does not include a proactive outreach and promotion of the CNMI as a location for private investment. The creation of CEDA establishes a central authority for the pursuit of the CNMI’s economic development priorities and is a step toward modernizing the way in which the CNMI economy grows.