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EAGI confirms 2 FTZ board members
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Posted on Jan 17 2001
The Senate Committee on Executive Appointment and Government Investigations confirmed the appointments of Theresa T. Ogumoro and George M. Fleming as members of the Free Trade Zone Authority Board.
Their appointment completes the nine-member board that will administer the implementation of the free trade zones. Ms. Ogumoro is representing the Carolinians while Mr. Fleming is representing Saipan from the private sector.
Former Rep. Karl T. Reyes, who helped craft the legislation that led to the creation of these special economic sites earlier got the Senate’s nod. Other members are SGMA Executive Director Richard A. Pierce, Triple J. Motors executive Jay Jones, Philip Long from Tinian and Joaquin Atalig from Rota.
The board is expected to begin work immediately on the establishment of FTZ’s in Saipan, Rota and Tinian by drawing up rules and regulations as provided in the law.
The ambitious plan to set up special economic zones was approved by the governor in September after nearly two years of legislative process. Public Law 12-20 or the “NMI Free Trade Zone Act” will help diversify the local economy, create jobs for the people and pump more revenues into the government coffers.
Designed to entice potential investors in other industries other than tourism and garment manufacturing, the FTZ investors will be encouraged to set up their businesses in especially-designated economic sites with such perks as tax incentives and lower land lease fees. (Lindablue F. Romero)
