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BoH is ‘cautiously optimistic’ about CNMI economy
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Posted on Feb 16 2006
From being quite wary over the pullout of Japan Airlines from the CNMI last year, a Bank of Hawaii top executive says he is now optimistic—albeit cautiously—with the economic situation of the Commonwealth.
“I’d say [we are] cautiously optimistic,” said Honolulu-based Bank of Hawaii executive vice president Ronald H. Leach in an interview during a cocktail reception at Hyatt Regency Wednesday night.
He said there were fears over the viability of the CNMI following the Japan Airlines pullout last October, but this was slowly reversed amid “encouraging” developments in the CNMI.
Leach said recent news about the introduction of three additional Northwest flights by April this year helped boost their confidence.
“We’re very pleased with NWA’s announcement of three additional flights…four months after the JAL pullout. We were really very [worried]..,” he said.
Further, Leach said that he is quite “impressed” with what he sees with the new administration.
He described the Fitial-Villagomez kind of leadership as “very open” and “business-like.”
“I’m seeing lots of energy. So there’s lots of confidence for 2006 and beyond,” he said.
In general, Leach said that BoH remains committed to doing business in the CNMI.
Wednesday night’s BoH reception was also attended by newly assigned Bank of Hawaii-CNMI district manager and senior vice president John Sheather.
Sheather replaced Stephen Brock who left the island last December.
