Page 38 - IB AUG 2018

Business Intelligence - PacIFIc

Guam gets nearly US$500M in defence aid

The NDAA authorises US$448.5 million for military con-
struction projects on Guam to support the ongoing progress of
the Marine realignment including US$75.6 million for x-Ray
Wharf Improvements. The law fully authorises US$141 mil-
lion for a machine gun range with half authorised to be spent
in fiscal year 2019. The law further builds on authorisations
in fiscal year 2018 NDAA and provides further flexibility for
the U.S. Customs and Immigration Services to administer the
H-2B visa programme on Guam.
Specifically, the agreement further extends the 2018 NDAA’s
exemption from the temporary work requirement until 31 De-
cember, 2023. It further allows for the admittance of healthcare
workers to Guam through the H-2B visa programme to aug-
ment the increased need for skilled healthcare supporting the
Guam’s delegate to congress Madeleine Bordallo. Photo: Rick Cruz-PDN. buildup at medical facilities that jointly serve members of the
Armed Forces, dependents, and civilians on Guam.
Guam’s Delegate to Congress, Madeleine Bordallo, has
HAGATNA - U.S President Donald Trump has signed into introduced H.R. 6480, the Guam Temporary Workforce Act,
law the John S. McCain National Defence Authorisation Act which would give the governor of Guam more control over
for Fiscal Year 2019, which authorises US$648 billion for the the temporary labour determination process by providing him
Department of Defense and defence-related programmes with with authority determine the need for temporary workers in
an additional US$69 billion for Overseas Contingency Opera- Guam’s civilian labour market. The bill would also provide the
tions funds for war operations and other anti-terror activities governor with the ability to safeguard the local economy from
for a total of US$717 billion. an overreliance on temporary workers. - Pacnews

Cook Islands in major surplus Nauru celebrates tuna fishery
RAROTONGA, Cook Islands - A massive surplus of US$24.2 YAREN, Nauru - Commencement of operations by two purse seine
million was recorded in the net operating balance of the general vessels flying the flag of Nauru signifies the country’s first ever
government sector for the 12 months ending June, 2018. In the participation in the lucrative Pacific purse seine fishery. The two
final quarterly report for the 2017/18 financial year released early vessels – Naoero Star and Naoero Sun – have left Fiji for Nauru
this month, the operating balance for the period ending June 30, on their maiden voyages under the Nauru flag. Baron Waqa,
2018 was US$24.6 million, compared to the government’s esti- President of Nauru, expressed support and congratulations for
mated figure of US$321,000. In a statement, the finance ministry this development on behalf of the country. “Nauru is blessed with
said the favourable result was driven mainly by higher revenue vast tuna resources – our waters are rich with skipjack, yellowfin
collection of US$18.6 million, followed by savings in overall and bigeye, and yet so far we have not been able to develop our
operating expenditure by US$5.7 million. “Taxation collection own fleet of fishing vessels to catch that tuna.” That situation has
accounted for US$14.6 million of the variance in revenue and now changed through a newly minted joint venture agreement
largely attributed to the additional tax collected as part of the tax between the Republic and Korean fishing company Silla.
amnesty programme implemented during the year in addition to
the increased economic activities evidenced by increased visitor
numbers,” the ministry said in its quarterly financial report. Talks to resolve mine dispute
NOUMEA, New Caledonia - Talks have been held in the north of
Samoa PM discourages loan write off New Caledonia to resolve the disputes which led to the closure
APIA, Samoa - A request to write off loans is an embarrassment of the nickel mine in Kouaoua. The SLN nickel company closed
and it does not look good for any country, says Samoa Prime its mining operations indefinitely amid a blockade of the site by
Minister Tuilaepa Sa’ilele Malielegaoi. Speaking during his weekly dozens of young people and after another arson attack on its
media conference, the Prime Minister said this in response to installations. The dispute includes disagreements between cus-
questions relating to the suggestion by Tonga’s Prime Minister tomary leaders who agreed to expand mining and young locals
‘Akalisi Pohiva that debts Pacific Island states owed China should who blocked access to the site to stop to the clearfelling of trees.
be on the agenda at next month’s Pacific Islands Forum (PIF)
Leaders’ Summit in Nauru and loans owed to China should be
written off. The Prime Minister said writing off debts is not a Supekalapoa market opens
new issue, but it could have implications as bigger states could Port Vila, Vanuatu – The country’s newly opened Supekalapoa
be reluctant to give low interest loans to smaller nations. “The Fish market is a first in the Pacific region — a small facility that
issue over Pacific Island nations owing debts to China has always has the processing capacity of 20 tons of fish — at any given time.
been an issue addressed at the global level. Tthe problem with It is also equipped with high standard processing equipment to
addressing this issue continuously is that the bigger countries vacuum-seal filleted fish as well as display live fish, store and
become reluctant to give loans with minor interests because this is export fish. Minister for Fishery, Matai Seremaiah officiated the
what will happen, a loan is granted with minor interest yet in five official operation of Supekalapoa Fish Market on Saturday, 18
years’ time a request is put in to write it off. That is embarrassing.” August in Luganville.

38 Islands Business, August 2018