Mogethin, and warm greetings.

he State of Yap is interested in and intends to encourage investments, particularly foreign investment. To actively encourage such investment, the State must, among other things, provide for potential investors relevant and adequate information. This investment promotion internet site is an attempt to accomplish this objective.

This "on-line" guide provides information regarding investment prospects in Yap State, investment incentives, and state and national requirements with which prospective investors must be familiar. It also discusses trade agreements our national government has with certain countries including the United States.

Additional information and further clarifications may be acquired from government contacts whose addresses and telephone numbers are also provided in this guide.

Some explanation with respect to our development and foreign investments policies is in order at the outset. To run its operation and to continue to provide such public services as are currently available, Yap State Government is almost totally dependent upon the U.S. Government for financial and economic assistance. Such assistance is available but for a 15 year period (1987-2000) according to the terms of the Compact of Free Association between the FSM and US.

We wish to reduce our dependence, financial or otherwise, on any government other than our own, as much and as quickly as possible. It is our aspiration and also our ultimate goal to achieve economic self-sufficiency. We realize this goal is both costly and difficult to achieve.

Both our government and private sector combined lack the capability to finance all the types of developments we need. Hence, it is our established policy to encourage foreign investors to invest in our private sector and thereby assist in the development and growth of our state economy. The government could then concentrate its effort and meager financial resources on further development of basic infrastructure in order to support the private sector and to stimulate/facilitate further growth of that sector.

The government of Yap State is fully committed to the development of the private sector and views foreign investments as the single most essential element for such development. It is for this reason that the government encourages and welcomes foreign investments.

The State offers numerous investment opportunities. Our vast ocean area (EEZ and state territorial waters) and our abundant marine resources, for instance, hold tremendous potential for ventures in commercial fishing, fish processing, tuna transshipment operation, mariculture, commercial exploration of ocean beds for minerals, etc. Investment opportunities also exist in agriculture and related areas. Our unique and mostly un-changed traditional heritage and tropical setting are ideal for the development of a tourism industry and related activities.

For such reasons as are stated above, your investment is most welcome, and for your purposes, I hope this guide is useful. At your request, we are ready and willing to send you additional information.

Kefel ma Kammagar!

Sebastian L. Anefal
Governor
State of Yap