SEDC unveils economic plan

Local officials are optimistic of better times ahead as the Strategic Economic Development Council begins to carry out steps aimed at enticing investors into the tourism industry and boosting the number of visitors to the islands.

Gov. Pedro P. Tenorio, House Speaker Benigno R. Fitial, Senate Vice President Thomas P. Villagomez and other members of the Legislature attended SEDC’s presentation of a five-year plan which it hammered out for the past 15 months.

It is the first phase of recommendations that both the government and the private sector will have to jointly undertake to give the CNMI a boost to the arm following years of economic slumber.

The local chief executive said it will bring benefits not only to the two sectors, but to the entire island community as well with the projected increase in business activities here.

“I’m very hopeful because the first phase will be implemented right away,” Mr. Tenorio said.

His administration has already identified funds to finance various projects and programs of the council, while the business community has contributed money to assist the island government.

While the plan’s implementation is targeted from 2001 to 2005, the governor expressed confidence that it will remain in place despite the end of his administration in 2002.

“It’s a good plan,” he explained, “and I hope whoever takes over [after the November 2001 elections] will follow the plan.”

Mr. Fitial described the SEDC plan as workable and a major accomplishment, saying “it will dictate the direction the Commonwealth will take to provide livelihood for the people.”

Its strategy is similar to the economic agenda laid out by the House leadership, he said.

“The economy of the CNMI appears to have a bright future… because we have a plan,” Mr. Fitial said at the one-hour presentation. “There’s no more out of the blue [decision-making].”

He called on his colleagues to continue to be active in the council and its future meetings, noting several lawmakers have been very helpful in coming up with the plan and in enacting legislation to achieve its goals.

Mr. Villagomez echoed his sentiment as he cited recently-signed laws such as the free trade zones and the qualifying certificate program that will offer tax breaks to potential investments and existing businesses.

He acknowledged, however, the difficulties being encountered by SEDC in drawing support from the Senate, but added members, such as Sen. Jose M. Dela Cruz, are beginning to realize the need to work together.

“We have to take a look into all of its recommendations. The plan is a good one that will promote the interests of our islands,” said Mr. Villagomez.

House Floor Leader Oscar M. Babauta, Rep. Malua T. Peter and Sen. Ramon S. Guerrero were also present during the unveiling of the plan which followed one and a half years of closed-door meetings and visits to Guam and Japan by the council and several CNMI officials.