FSM ECONOMY IS POOR. WHAT CAN WE DO TO HELP BOOST OUR ECONOMY MY FELLOW BROTHERS AND SISTERS?

I THINK WE NEED TO FIND A REALLY GOOD SOURCE OF MAKING MONEY.
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  • THATS JUST THE PROBLEM FOR FSM..WE DONT HAVE MUCH TO BEGIN WITH..EXCEPT FOR OUR EEZ
  • edited July 2016
    I have said it once, twice, many times.....Tourism is the stepping stone to future success in each of your respective islands. This vision could not be denied as the beauty and unique environment of the Micronesian Islands are indeed special and one of a kind in the whole world. We are too beautiful to not share our gift to the whole world to enjoy, and spend lots of $$$$$ to have a chance to experience something that they can only dream about.

    Build your infrastructures, legislate laws and policies that will entice and invite foreign investors to conduct businesses in your islands, initiate government funded programs that empowers and lends financial assistance to locals to set up small to large ventures to accommodate tourism, and equip and promote the visitors bureau in your State governments to advertise your islands to the world through social media in hopes that it will attract visitors to your islands. First thing first though, infrastructure is a key component to set the wheels in motion.
  • LAST TIME WE TRIED TO ALLOW FOREIGNERS TO CONDUCT BUSINESS IN OUR COUNTRY THE PEOPLE MADE A HUGE PROTEST LOL
  • ahhahahh..lol@"HUGE PROTEST"...i like your thinking belas...thank you
  • One of the main reasons FSM has a poor economy is corruption by our leaders especially our Congressmen. Every year, the FSM National Government receives millions of dollars from the fishing right fees. Instead of using the funds for viable and sustainable projects, the Congressmen used or abused the fishing right money for political projects so that they continue to be in office year after year. Some of the uses of the funds as identified in the annual audit reports issued by the FSM Public Auditor are clearly illegal but yet, the FSM AG is not prosecuting them because he is such a coward or corrupt official himself. This also goes with the President. What I do not understand is why the prosecuting arm of the FSM Public Auditor's Office is not prosecuting these criminals? They might as well close that office and the AG office and hire independent prosecutors to do their jobs if they can not act it. In short, the main reason for our poor economy is corruption, corruption and corruption. Until this sickness is resolved, then, we can see the light at the end of the tunnel.
  • ok noname.thank you for sharing...i think corruption is one of the most general issues we havein our midst now. i will go with no name on this one and try to eliminate the threat...
  • sorry to break it to you no name but corruption is inevitable..there is no perfect system
  • yes, everywhere around the world..that is called balance. where there is good, there must be evil also..to balance our way of life...
  • YEP NIGHT AND DAY
  • and there is no country in the world that does not try to eliminate the bad seeds. it may take a while to achieve a better governance and suitable economy but never give in folks not yet. be vigilant and never back down you or me the last man standing on the right wing fighting without the other hand or foot. That is what I yearned to see stands at the far end of this challenging world. Thank our Belas I salute you for our great thought for I truly believe that mindset is in the head of our leaders but like others have said, they (elected leaders mostly) only cares about what to give to the people to solidify their behind in the congress. Soon this nation people will come to a point where they would say, enough is enough and let's remove these selfish leaders by physical force like other countries doing today.

  • edited July 2016
    We might as well say that corruption is as common as the air we breathe. But let us face reality which is all depending on the essence of time. How long will you ignore the opportunities of the chance to profit from the tourism industry that is clearly being enjoyed by your neighbors such as Saipan, Guam, and Palau? It is a fact that these island nations have changed drastically economically for the better in terms of creating jobs and putting money in the pockets of its people to meet the demands of today's world which undeniably, we are all part of this global economy. So to be part of it, we have to somehow, someway, go along with the tides of change, and with that said, we have to make ends meet.

    It almost sounds like it is up to your younger generations to make a difference if it seems like you see it from a defeatist standpoint. I just want to add one of the many dialogue that strikes me as quite disappointing when I speak to some of my friends from the islands. There are times when they mention of the lack of regular flights to the islands and the expensive fares that is quite a burden to your people. But let us face it, it all boils down to the airline that also needs to make profit so they limit their flights out of necessity. And this is the domino effect that it entails, as the reason for the limitation is perhaps due to the fact that there is not enough economical drive in the islands to allow the airline industry to fly regularly to your destination.

    This is my honest opinion on the subject and I hope I do not sound to hard on the ears, but there is no room to theorize and speculate on this matter any more than it has already done so. Plainly speaking, you need to seriously "Prioritize" on your tourism sector to become successful as Guam, Palau, and Saipan. The time is now.
  • young people,old people.it doesn't matter so long as we work together to make our great nation an even more greater and brighter nation. generally, we will need every hand that can be lend so we will succeed..
  • My personal prediction that around 90% of FSM nation voters are in the unrecoverable state of mind. Most of these folks can't see the far end of a 4 ft rope. Like family first and sacrifice the looming consequences they will reap due this old outdated mindset. Like Belas pointed out that this issue has been up and down and up and so on for probably decades yet seems our people still didn't get it. Like you also said we have seen and knew well that the right answer is just waiting to put in practice. I was one truly believe that if our people want to have a better life to compete with world around us, we should re-consider the fact that we can't continue to hold the old ways of thinking but to adapt that is if you and I truly want the change.

    However, if we wish to keep the our old ways like custom and culture, there is nothing we should be afraid of because we have blessed with brains to use so that new age maintain the stream of custom and culture while protecting deliberate abuses that we know already could damage or weakened both our ways of life we desires to keep and the adaptation of the new age necessities. In other words, first to learn the right monopoly and good knowledge on how to do it. Secondly, stops this ignorant mind without good reasoning and do as much as it is necessary to take us out of our bondage (chained by the thought of want to have better life and yet keep gripping on the mindset that will never take us anywhere but stuck in it).
  • yes you are right.you are right too belas..viva la fsm..
  • Culture and customs can exist with the new coming tide. We are doing it in my island. Yes, sometimes it can be abused, but let us be fair and say, the western democratic system, in which we all have adapted, is also not perfect.

    As a matter of fact, it is the beauty of one's culture and traditions that tourists come to enjoy and experience. It all points to "sound policies" and commitment to these policies that will bring much more to the table, rather than the current stagnant state in which you face. Look to your neighbors and learn what makes them successful, what makes them less successful, and put them into use. That is one advantage you have right now. No time to play out the political rhetorics which really gets old after a while.
  • ok,ok..thanks for the good advise...
  • Stop Eating and Get Back to Work
  • ahahha...who is eating??
  • www.pacificislandtrade.com

    Spread the word will help our FSM Economy
  • You are one of us too, Olly_Mars.
  • edited July 2016
    Tourism is one source of income that could have boost the economy but nobody wants to come because limited accommodations and entertainment, inconvenient transportation, unreliable medical services, and chunk restaurants. You name it. But I think if we target the rich reckless tourists and allow marijuana entertainment use for tourist only. These type of tourist will fly in regardless of high airfare, not enough hotels, chunk food, and unreliable hospitals. They will keep coming to enjoy the islands. After we improve our service we stop marijuana and allow it only on the outer islands to start bringing development to the islands. I'm high ;-)
  • i am very high ;-) ..
  • The time is now. As soon as your tourism industry hits into high gear, the sooner you can accommodate some of these tourists who are coming to Palau which at times, are overwhelming our infrastructures. Yes, we find ways to manage, but wouldn't it be nice if we share the profits throughout all our respective nations. I guess time will tell.
  • In my humble opinion, the FSM needs to either outsource to a qualified entity or find suitably qualified local individuals relative to developing a strong tourism and promotional drive for the islands. There is nothing that says 'unprofessional' or 'zero motivation' more than the lifeless social media profiles and websites of currently ordained FSM governmental tourism departments than of those we see at this time. This is especially sad to see when the natural resources and aesthetic of the FSM as a whole is the epitome of paradise.
  • We have to zero in on the facts.
    Eliminate unnecessary spending.
    Operate within our only available funding.
    Implement the approved plans and modify it as needed.
    Do have continuity within our limits.
  • edited July 2016
    Why trouble yourself over the poor economic performance? The leaders don't care.
  • The first step is to make our congress be paid only part time only the Speaker gets to be paid full time. Cut their allowance down to $1000 each.
    That would be a start...
  • All we need is to be honest amongst ourselves, and lend a hand in keeping our country clean and healthy. Then everyone doing business much pay TAX! Lastly, lets go fishing full blast. We must have fishing boats owned by Micronesians and Shore facilities. The Ocean is our life and we must harvest what is in it so that we can improve our Economy. NORMA had only provided the tip of the ice-berg as far as income is concerned. We need to do fishing, ten times more than what NORMA is getting for us.
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