Foreign Investment in Pohnpei.

Whats going on guys????
Opening everything, casino, sea cucumber, tuna farming, Chinese shop expanding.
It looks to my like things are going down really fast.
Keep going like this and you will have more Chinese in Kolonia in 10 years then Micronesians.
Looks fishy to me, really fishy.

Comments

  • edited October 2018
    The profit from harvested resources and the added value of local labor becomes capital outflow, resources are depleted, and environment degraded.
    The casinos will enable further impoverishment of those most vulnerable and there will be overwhelming foreign influence on legislative actions.
    Is that "Whats Going On?"

  • Imagine this: There are a few tens of thousands people on Pohnpei, including non-residents. The amount of money on Pohnpe i is not that much. Why would the Chinese investors come in great numbers to Pohnpei, and any other locale, for that matter. Could it be possible that there would be illegal forms of business disguised as legal fronts to launder illegal money?
  • Even big countries need foreign investment. Sensible foreign investment is necessary to wake-up the sleeping market. The few business owners willing to "force" the government to make them the only businesses owners are already rich and are committing the worst types of atrocities against their employees (look at the wages, hours, abusive treatment, etc.). We need to figure this out because the status quo is not working.
  • I hope it is not true the few business owners in Pohnpei are not banding together to prevent free market and free enter in a free country. But responsible leaders should be very sensitive to the survival of their own people, to the point that they need to protect them from an economic takeover by already filthy rich people who only want to become even more extremely filthy rich.

    If they care that much about their people they must even sacrifice jump-starting economic growth and invest in their own people by providing for an environment conducive to quality education and good health, engines which can help move the people toward a better quality of life. Slow progress can be desirable and perhaps is the responsible approach in this instance.

    The fear of the end of funding from the compact in 2023 is just that. A fear. It will not be the end of the world. The fear should be used to instill a sense of urgency in the leaders to think for the masses instead of self, motivate leaders, parents, young people to value education and good health and hard work, and curtail unwise use of funds, both public and private.
  • How do fish stock harvesting contracts work?
    Is there much poaching going on within FSM's Exclusive Economic Zone?
  • Foreign Investment and competition is very healthy for any economy. To ensure the economy of scale is leveled out properly in any business. Our small business owners in Pohnpei are mainly concerned about one thing and one thing only. They are concerned that Pohnpeians will realize that they've been milking the consumers for a long time.

    As a consumer, I don't have a choice, but to buy from what is available through our small business. We complain about foreigners coming into our islands, but yet, when we travel to Guam and Hawaii, we go straight and do our business at a foreign investment business. Competition is very healthy for any economy.

    I'm sure the FIB Law being amended doesn't mean that anyone can just come in without any controls in place. Lets be positive.
  • edited October 2018
    Self-investment pays the greatest returns.
    Foreign investment results in profit from harvested resources and added value of local labor becoming capital outflow, resources are depleted, and environment degraded.
    Do you know who is harvesting your fish?
    Are you getting the best deal you can?
    FSM has one of the largest Exclusive Economic Zones on the planet. If the people are not protecting it then you will probably be exploited and left impoverished.
    Perhaps a healthy fishery is more valuable than oil and gold.
    Who hold the contracts for harvesting the fish in FSM EEZ?
    How much poaching is taking place?
    The foreigners in town are not the folks to be worrying about. It is the trawlers off your shores.
  • Gav,
    To answer some of your questions,

    NORMA is the ultimate authority to issue fishing rights to fishing companies. So NORMA is the entity that has the authority to sell the fishing days to these fishing companies.

    As far as the poachers are concerned, we will need to activate our FSM Surveillance and Office of Fish and Wildlife.
  • Paclands;
    Thanks for the info. Has FSM ever asked the US Navy or Coast Guard to assist in identifying and siezing poaching vessels?
  • Gavi,
    Not that I know of. The fish migrate from region to region depending on the weather and current I believe. I guess FSM Government reserves their requests to NAVY & CG for drift aways and others.
  • This is a big problem that must be addressedimage
  • Hmm...Interesting points. Why would you try to prevent free market. All you need is taxation on these foreign investments. The process was a bit of a doozy for me. No online information or application. You go to PNI state to get information and everything, I mean EVERYTHING is in paper trail. Great to get away from Online fraud, only, if only they have great clerks and local filing systems. It's good for those with patience and can be persistence.
  • It sounds to me like the people do not understand the capital flows. That is good for those who exploit the resources but very bad for the people whose resources are being exploited.
  • The US Navy and the US Coast Guard have been providing FSM, RMI, Palau, and other small Pacific nations with maritime security and fisheries surveillance/enforcement assistance for many years now.

    Maritime Security: Across the Pacific, the United States is a key partner on maritime security through U.S. Coast Guard and the Oceania Maritime Security Initiative (OMSI) shiprider agreements with 10 Pacific Island countries, which allow local law enforcement officers to embark on U.S. Coast Guard and U.S. Navy vessels, in order to observe, protect, board, and search vessels suspected of violating laws or regulations within their Exclusive Economic Zones or on the high seas.

    In 2019, the U.S. Coast Guard will hold a five-day training course for Pacific Island shipriders aimed at combating illegal, unreported, and unregulated (IUU) fishing.

    The United States also supports maritime security through participation in the Pacific Islands Forum Fisheries Agency’s regional surveillance operations, high seas boardings, and inspections and other activities under the Western and Central Pacific Fisheries Commission.

    Australia, France, New Zealand, and the United States cooperate as the Quadrilateral Defense Coordination Group to coordinate maritime security efforts in the region, including joint operations.


  • edited January 6
    US foreign policy always supports their corporate interests. They have fishing fleets in the Pacific too. We should find a more reliable partner to help patrol and harvest our waters -- a nation that currently has minimal fishing boats in our region. In the colonial days, we harvested and patrolled our waters with European countries like Spain and Germany. Perhaps we should consider a different solution to a growing problem. How about Norway or maybe Russia?
  • yup, sounds like a banker trying to persuade a shopaholic teenage girl how to shop wisely using her credit card lol
  • FM, yea some security. How many idiots believe that? The security promise in the Compact is a joke. The last time the US Government kept promises to indigents, they allowed the US Army to relocated the American Indians forcefully and treaty after treaty were breached. N. Korea was threatening to send missiles around Guam waters and the military was diligently all over Guam and Saipan teaching people how to avoid looking into nuclear blasts and all. They were not here. I tell you what, they only come when their interests are at issue. We are doomed to be ground zero when China/N. Korea versus US starts blazing. We will be "oh well" collateral damage.
  • no way to Russia, are you crazy? they have not helped these islands from the beginning why would they suddenly be the guardian of us? stop your innuendos zzzz, your beginning to make me suspicious , are you the same ones meddling in the US election, please go away from this forum and stop pushing Russia's agenda all over the corners of the globe, we are fine with us and our compact status
  • Okay Errr. I retract Russia, because you are happy with the status quo. After all, Trump colluded to give away Crimea and US uranium. Your views are so refined. Truth is Russia and Mexico receives too much US Foreign aid to become our partner. I just placed it there to expose your democrat Micronesian hypocrisy. You see, Russia is no longer a communist country -- China is.
  • KEEP IT GOING....
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