Government of the Federated States of Micronesia

FSM Resolved to Continue Foreign Investment Laws and Regulations' Reform

Palikir, Pohnpei (FSM Information Services): July 23, 2009 - The FSM Department of Resources and Development will organize on August 4th and 5th, 2009, in Kosrae, the second annual symposium on foreign investment laws and regulations applicable in the FSM; after the first one that was held last April 2009, in Palikir.

Participants from the private sector and civil society organizations will meet with national and state officials to continue discussions on improving the business legal framework in the FSM, with the view to make it more conducive to foreign investments. In the current context of the global economic slowdown, FSM National and State Governments have resolved to direct their efforts towards modernizing the existing business climate in the country, with the view of keeping the domestic economy on the right track.

During this gathering, attention will be focused on streamlining and harmonizing the definition of concepts and the reporting format in all the five investment regimes in force in the FSM, and analyzing options for a National Investment Policy as well as a National Export Strategy.

The second symposium will benefit from the technical assistance of the Pacific Forum Secretariat and the Hub and Spokes Project under the Commonwealth Secretariat.

For more information, please contact the Department of Resources and Development at telephone number (691) 320-5133.

For further information on this release, please contact:

FSM Office of the President
Public Information: Press, Radio, Video
P.O Box 34
Palikir Station, Pohnpei, FM 96941
Tel.: (691) 320-2548/2092
Fax.: (691) 320-4356