Exhibition & Travel Group's (ETG) investment and development plans in the State of Yap.
edited January 31
What's your opinion?
edited January 31
I'm for it, however safeguards need to be put in place. Tourism is our only other resource capable of sustaining our economy. By not taking advantage of foreign investment, we continue to restrict ourselves only to government aid and the reliance we have in it.
One word to describe this project - PROGRESS.
This is an opportunity of a lifetime! Yap government is kaput, look at the broken roads around colonia. These so called Governor and Senators use this road everyday and what do they do to fix it? These people don't have an ounce of shame in the hollow skulls period!
It's a great plan if you want Yap to be a subsidiary of China Incorporated.
Since Compact 1, there has been no significant USA related joint venture or owned private development project as large as the ones in Belau, Yap, or the ones which were proposed in both Pohnpei and Chuuk. Even most of the tourism development in Guam and Saipan are mostly non-USA related companies from Asia. So it is not a surprise to see major projects from Asian companies throughout the Pacific region.
- The ETG project in Yap is an economic development project, nothing about it is political nor related to Chinese government. In fact, the ETG group is even offering to help Yap improve their infrastructure to support their Casino resort.
Yap is an ideal location due to its proximity to Guam. Not to mention its cultural uniqueness but watch as they might eventually dissolve all that with the casinos. Check out the Native Americans reservations where casinos have been built. Never mind that, check the Native Americans period!
Yap is having serious second thoughts about Chinese tourism
January 26, 2018 By Joyce McClure
|The land on which Yap's Village View Resort sits was leased by its owners to ETG a few years ago. Today, the property is littered with trash and debris and the buildings that were damaged in a storm prior to the lease agreement continue to deteriorate. Families use the beach-side location for picnics but it is not being maintained by the Chinese developer and the landowners have no rights to the property according to the 99-year lease. (Photos: Joyce McClure)
Mysterious Chinese investor Deng Hong is out
of prison and back to making plans for the island
Colonia, Yap -- The coconut wireless has been buzzing in Yap with the arrival on Jan. 22 of Deng Hong and his party on a large private jet. Deng, once one of China’s richest men, is chairman of Chengdu’s Exhibition and Travel Group (ETG) and was charged in 2013 by the Chinese government with corruption. Rumors about the reason for his visit started flying even before the traditional dancers from Nimar village began rubbing turmeric and coconut oil on their bodies as they prepared to provide the evening’s entertainment at the Pine Restaurant and Bar next to the lagoon in Colonia. The restaurant was closed to the general public for the private dinner that was hosted by Yap Gov. Tony Ganngiyan.
Representatives of Deng first arrived in Yap several years ago and began offering leases to private landowners. The mega-resort and casino developer wanted to build what the company heralded as a 10,000 room hotel and several golf courses on the 38 and a half square mile island. Groups of Chinese tourists would be flown in on charter jets and land on a new runway extended and upgraded by ETG to accommodate the planes.
A few landowners entered into the 99-year leases but some are now attempting to void them after realizing that payment was not a lump sum upwards of $200,000 or more, but spread out over the 99 years. In one case, two brothers had built a hotel in the municipality of Maap, but with few tourists and a storm that destroyed the property, they were struggling to pay the mortgage. The ETG representatives were “very friendly, very sympathetic and they offered to pay off the loan for us and do a deal," the brothers said according to a May 2016 article on the Australian Broadcasting Corporation website.
After much public outcry by the Yapese about the Chinese company’s plans to take over more and more property, ETG scaled back its plans to 5,000 rooms and eventually to 2,500 rooms, according to reports. Yap proper has a population of only 7,000 and there was no guarantee of jobs or cash flow into the community. Rather, ETG said it intended to bring in Chinese workers to build and staff the resort since they would need to speak the Chinese language. The Yapese would be relegated to entertaining the Chinese tourists who would be flown in on charter flights, as has been done in Palau.
Yap’s residents and leaders have been watching Palau closely to see what the effect has been on both the environment and the people. Despite the increase in cash flow, many agree that it has not been as beneficial as hoped. Palau is now scaling back its tourism goals due to environmental concerns as well as the increase in housing prices combined with a lack of availability due to the takeover of apartment buildings and other accommodations on the island. Upon entering a Chinese restaurant in Palau last week, one American visitor who was accompanied by Yapese friends, reported a less-than-positive welcome by the owners, staff and patrons.
edited February 5
This is by far the largest private economic investment by a foreign investor into the FSM in history. So instead of dwelling on minor concerns which will only serve as barriers to progress, we should congratulate those responsible and encourage more of these types of economic development projects.
110% with you on this coconuts.
Building roads to create a more harmonious and prosperous world is noble work which transcends all ideologies and everything else.
United States will never build anything for Yap period. The japs did more in 15yrs during their time than the US 40 yrs admin. The US air force is looking into extending the run way and building hangers for their fighter planes, none for Yap! Only ETG is looking into developing the island, lets take that once in a life time opportunity, keep in mind that there is always bad sides of everything!
So it's a go for the ETG ! yayyy
Message Ina Chok
I don't really agree with Truthisthat's picture. You can find that anywhere in Yap, especially along deserted shorelines. Go to Sorol and you will find worse beaches with thousands and thousands of washed up debris. The picture above shows washed up debris, not littering from the land itself. Any islander knows the difference when you look at it. Not that I am a hundred percent for the ETG, but yes I do agree we should let them develop our state....with limitations :)
Money is good but if not carefully utilized, there will be terrible consequences.
Militegu, how about the millions of dollars from COFA and Federal grants money from the US funneling into Yap annually? You said united states will never build anything for Yap period. How does the saying goes again... "give a man a fish and he'll eat for a day..."