Developing a new leg of the economy to supplement military and tourism is long overdue, according to government officials and business leaders who endorsed the creation of the transshipment industry on Guam.
“The proposed transshipment industry and establishment of a manufacturing hub has merit and has been long talked about but has not been fully vetted as a potential revenue source and viable source for employment not only for our island residents but for all of the region," Catherine Castro, president of the Guam Chamber of Commerce, said in her written testimony in support of Bill 2-36, which was publicly heard Thursday.
Introduced by Vice Speaker Muña Barnes, Bill 2-36 proposes to create a roadmap to develop a transshipment industry on Guam as a means to expeditiously jump-start Guam's economy.
The bill, co-sponsored by Sens. Jose Terlaje and V. Anthony Ada, was introduced on the first day of the 36th Guam Legislature.
Castro said the creation of a task force would provide the opportunity for "further exploration and research in the area of transshipment as well as the development of a new manufacturing hub network which, by tapping into local and regional supplier networks could create and generate a new industry and financial resource for Guam and the region."
Karl Pangelinan, director of business development and marketing at