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Palacios urges Indian investors to consider the NMI as part of their investment strategy
Arnold I. Palacios
As one of the fastest growing economies in the world, India’s investors should consider the CNMI as part of their investment and growth strategy.
That was the message of Gov. Arnold I. Palacios in his speech at the India Embassy in Washington, D.C., last Wednesday, during which Palacios talked about investment opportunities in the CNMI and its proximity to Asia.
Palacios, who was in Washington D.C. for the four-day 2023 SelectUSA Investment Summit, hopes that Indian companies consider the CNMI as part of their investment strategies, whether that includes expanding globally, or tapping other markets and leveraging the Commonwealth as an element in the global supply management system.
As part of his sales pitch, Palacios mentioned several business incentives that have attracted foreign direct investment in the CNMI, including tax structures that are favorable to businesses such as zero property tax, zero sales tax, lower excise or import taxes compared to other territories, and having a qualifying certificate program.
Palacios also noted the CNMI’s exemption from the Jones Act, having access to foreign workforce, exemption from the H visa cap, and having the CNMI-Only Transitional Work Program.
