Congress of the Federated States of Micronesia

FSM Congress News, May 14, 2004

PALIKIR, Pohnpei (FSM Congress): May 14, 2004 - Vice Speaker Claude Phillip presided in this morning's session, while Speaker Peter Christian is off island to address a group of students graduating from the Xavier High School in the State of Chuuk.

Congress adopted a resolution this morning authorizing the President to re-submit the nomination of Mr. James Naich to the position of Deputy Chief of Mission for the FSM Embassy in Washington D.C.

The position has been vacant since Congress voted against Mr. Naich's nomination to the same position nearly seven months ago on October 13, 2003.

On behalf of the Chuuk Congressional Delegation, Senator Jack Fritz expressed appreciation to Members for adopting the resolution authorizing the President to re-submit Mr. Naich's nomination and to the United States Government for approving the amendments to the Compact and all assistance extended to the FSM during and after the Compact negotiations.

Congress deferred its 1st Reading action on the bill concerning the procedure for the admission of a new state into the Federated States of Micronesia after adopting the committee report regarding the same bill.

In today's hearings, the Committee on Resources and Development met with the Department of Economic Affairs, Pohnpei State and some local business officials regarding C.B. No. 13-42, a bill designate to reform the FSM foreign investment laws and regulations.

A mixture of concerns and opinions were raised in the hearing. Among other things, the issue of duration of validity of investment and entry permits and the broader issue of whether or not we really should be attempting to regulate foreign investment at all, were discussed. Also raised were questions about the proposed character criteria that investors wold have to meet.

The committee advised the witnesses to look into the various issues because the next time they'll meet the subjects should be re-addressed with a clear vision.

In the meantime, all the committees continue to prepare for extensive public hearings regarding the fiscal year 2005 budget and other pending matters. Congress will meet again in session on Monday, May 17, at 10:00 in the morning.

For further information on this release, please contact:

Congress of the Federated States of Micronesia
Public Information Office
P.O Box PS-3
Palikir Station, Pohnpei, FM 96941
Tel.: (691) 320-2324/2325
Fax.: (691) 320-5122