Hagåtña, Guam – Efforts to attract foreign investors and diversify Guam’s economy continue. In May of this year, a Guam delegation led by Governor Lou Leon Guerrero participated in the 2023 SelectUSA Investment Summit in Maryland. To maintain visibility beyond the summit, the Guam Economic Development Authority (GEDA), in partnership with the University of Guam Global Learning and Engagement Department,  hosted a virtual meeting on August 10 with 20 potential investors. Participants included delegates from Japan, South Korea, the Philippines, and the United Arab Emirates. Additionally, a representative from the United States Department of Commerce also attended. 

The meeting allowed potential investors to hear from Governor Leon Guerrero, GEDA, and the Department of Revenue and Taxation (DRT) about doing business in Guam and potential investment opportunities. GEDA also announced an in-person investor conference is in development and currently scheduled for November 2023. 

“While tourism and defense spending are well established, there is room for new industries, including additive manufacturing, sustainable aquaculture, and others,” said Governor Leon Guerrero.  “Our administration is committed to creating a more diverse and wide-ranging economy that provides more stability and opportunities for the people of Guam.” 

GEDA Chairman David John also addressed attendees stating, “This virtual meeting is a positive next step towards encouraging increased investment in Guam. Moving forward, we plan to welcome high potential investors to the island to introduce them to stakeholders, including immigration attorneys, finance and taxation experts, and real estate professionals.  An in-person organized and comprehensive investor conference will help facilitate investor due diligence to get investment dollars flowing into our island at an accelerated pace.” 

At the invitation of Secretary of Commerce Gina Raimondo, Governor Leon Guerero participated in the 2023 SelectUSA Investment Summit last May. The event is sponsored by the U.S. Department of Commerce and plays a vital role in attracting and facilitating foreign business investments throughout the nation and territories. During the summit, the Guam delegation touted the island as the “bridge between Asia and the United States” and noted that the ongoing military buildup would increase the need for affordable housing, aquaculture development, agriculture, transshipment, and agri-tech. 

Details on the in-person investor conference are forthcoming. For more information, contact GEDA at 671-647-4332.


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