Legislature OKs 3 bills backing Guam's economic diversification goal

Guam senators on Tuesday passed three bills that seek to pave the way for the creation of new industries on the territory, which has long been dependent on tourism and military.

Bill 217-35 would entice the potential of a commercial drone industry, Bill 218-35 would support the potential of a processing trade and distribution, transformation, or fulfillment center industries on Guam, while Bill 133-35 would reduce the cost of starting up a small business. All three bills were authored by Sen. James Moylan.

Bills 217-35 and 218-35, if signed into law, would add to the matrix of industries eligible for the Guam Economic Development Authority’s qualifying certificate Program.

Both bills have the potential to attract investors, whether it be through the island’s commerce community seeking to diversify or outside interests who would consider the many benefits which Guam provides from a geographical perspective. The measures also leave the establishment of any benefits for potential applicants under the responsibility of GEDA.