Natural resources
Aquaculture: Pohnpei and the other FSM states control approximately one million square miles of some of the most bountiful areas of the Pacific Ocean. Many varieties of commercially marketable fish are abundantly available: red snapper, grouper, skip jack, reef fish, etc. In addition, the uniquely delicious mangrove crabs are plentiful on the coastline, as are shrimp, lobster, seaweed, giant clam, sponge, trochus, tropical fish and sea cucumber in the bays and lagoons. Pohnpei is fertile ground for aquaculture projects.
Agriculture: Pohnpei's tropical climate offers rich agricultural potential due to good annual rainfall and rich volcanic soils. Bananas, mangoes, papaya, and pineapple are among the tropical fruit indigenous to the island. Numerous varieties of yam, taro, pepper, and cava are also presently being cultivated.
Environment & historic treasures: From scuba diving to hiking among World War II armaments to swimming below a spectacular waterfall to unique bird watching to relaxing amidst a Pacific sunset, Pohnpei's natural beauty appeals to a variety of tastes.
The rich and unique Pohnpeian culture remains largely in tact. Traditional ceremonies, featuring cooking in an earthen oven, pounding cava root to make sakau, and performing native dances continue throughout the island.
One of the great archeological wonders, the NAN MADOL ruins stand as a fascinating testament to an advanced ancient civilization - the tombs and residences of a developed community believed to have existed over 1500 years ago stand stoically on 95 manmade islets. The structures were built entirely with enormous pentagonal basalt columns--the source of the basalt and the means used to construct these elaborate structures remains a mystery. Fascinating legends and folklore--many of which have been substantiated through archeological findings--add to the the mystique of Nan Madol.
Vestiges of the Spanish, German, and Japanese period can be seen throughout the island. Perhaps most daunting are the munitions and bunkers which still exist along Sokehs Ridge as a stark reminder of Pohnpei's involvement as a strategic Japanese base during World War II. The WWH remains also provide some interesting historical treasures. Traditional and cultural shows and festivities amaze visitors with Pohnpei's unique and interesting customs.
Land ownership and use
Pohnpei's constitution limits land ownership to citizens only. However, land is available to non-citizen individuals and businesses on long-term leases. Recently, the land lease tenure has been increased from 25 to 55 years, with options to renew. Obtaining the use of land may secure local interests in a foreign investment business.
Infrastructure
Power: Pohnpei generates its power from diesel-fueled and the hydro-electric power generators. Pohnpei proper is powered 24 hours a day with available generating capacity around fifteen(15) megawatts. Water & sewerage: Pohnpei's capital center has public sewerage and water systems which need some upgrading. Water is always plentiful in Pohnpei but it is the delivery system that needs extension and upgrading.
Transportation: Pohnpei's international airport is capable of accommodating medium-sized jet aircrafts. The current seaport is capable of providing containerized cargo handling, some warehousing and transshipment handling.
Telecommunications: The FSM Telecommunications Corporation located in Pohnpei has a very good telecommunications system and satellite for facsimile, telephone and telex to anywhere in the world.
Banking: The three banks currently operating in Pohnpei are protected by FDIC. The fourth is a development bank, the establishment of which was necessary due to the regular commercial banks' reluctance to loan capitals where certificate of deposit to fully collateralize the loan, is not available.
Taxes
Applicable taxes in Pohnpei include Gross Receipt Tax(GRT), Wages & Salaries Tax(WST), Social Security Tax, and Duties & Customs. The GRT is $80 on the first $10,000 of gross earnings and 3% on any excess earned for the calendar year. Every employer is obligated to withhold from employee salaries and wages tax based on the FSM social security system, under which scheme the employer contributes for the retirement flind fifty percent(50%) and the employee the other 50%. The duties & customs tax applies generally to all imported items varying by products. Food stuff is taxed 3%, cosmetics and cigarette products 25% and 50% respectively and most other products at 4%.
Labor
Although the hiring of expatriates is subject to hiring preference for locals, expatriate workers are easily issued work and entry permits but upon proper application being filed by the local employer. Investors who manage their own businesses can reside in Pohnpei for the length of their investments. The prevailing minimum wage in Pohnpei is $1.35 an hour.
Foreign investment attitudes
Pohnpei is re-examining its foreign investment laws and regulations to provide a more liberal foreign investment environment and permit review process. Current foreign investment regulations are based on laws established in 1979 (amended in 1986) for the administration of foreign investment in Pohnpei. The original law was more regulatory than it was promotional of foreign investment, but policies have since been more favorable toward attracting and encouraging foreign investors.
Proximity
Pohnpei's proximity to markets like Japan, Guam, Hawaii and other South Pacific markets provides competitive advantages for investors.
he State of Pohnpei is approximately 135 square miles land area, including the main volcanic island and 25 smaller islands within the pristine and diverse barrier reef. Beyond the reef lie more than 100 coral atolls with lush coconut palms, white sandy beaches and tropical lagoons. Dense jungle and rain forest covering the rugged mountains on the main island lead to spectacular waterfalls through deep valleys to the mangroves which dominate the shoreline. The abundant undisturbed forest, protected lagoons, and massive reefs contribute to Pohnpei's biodiversity--from tropical fish, rays, tuna, sharks, trochus, lobsters, sponges, clams and turtles to Pohnpei's State Bird, the serehd, which can only be found in Pohnpei.
