Monday, July 29, 2013

Chief Justic Yinug to designate FSM Supreme Court representative on Services and Investment Facilitation subcommittee

FSMIS (July 29, 2013): As the Chairman of the Federated States of Micronesia National Trade Facilitation Committee (NTFC), Vice President Alik L. Alik has made correspondence with FSM Chief Justice Martin G. Yinug regarding the request for the FSM Supreme Court to be represented on the NTFC subcommittee on Services and Investment Facilitation.

According to Vice President Alik, the Services and Investment Facilitation Subcommittee is tentatively proposed to comprise of representatives from the following entities:

The FSM Association of Chambers of Commerce
The FSM Development Bank
The FSM Department of Finance and Administration
The FSM Department of Justice
The FSM Department of Resources and Development
The FSM Department of Transportation, Communication and Infrastructure
The FSM Banking Board
The FSM Insurance Board
The FSM National Oceanic Resources and Management Authority
The FSM Office of SBOC
The FSM Supreme Court

The creation of the subcommittee resulted from recommendations made at the Third FSM Investment Facilitation Symposium and adopted at the Sixth State and National Leadership Conference (SNLC), both during the month of May, 2013.

Among its duties, as explained by the Vice President, the subcommittee will:

Follow-up and monitor the implementation of options and strategies adopted at the Symposium and endorsed by the SNLC;
Mobilize all resources that are necessary for the implementation of the options and strategies on investment facilitation; and
Provide any other policy advice on investment facilitation-related matters as may be required from time to time by the National or any of the Sate Governments.

It is also expected that the subcommittee will regularly consult with government agencies, the private sector, ngo's and other stakeholders as the FSM progresses in cross-cutting strengthening and updating of investment facilitation programs, policies and legislation.

For more information, email fsmpio@mail.fm or call the FSM Public Information Office at 320-2548.

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