July-September 1990: “NMI Needs Foreign Investment—Inos”
November 12, 2025
•2 min read
Marianas Press presents “Micronesia Moment.” In this new series, we dig into the archives at the Northern Marianas College to share moments from Micronesia’s history.
Take a look at this 1990 article from The Senate entitled “NMI Needs Foreign Investment—Inos.”
“Senate President Joseph S. Inos said the Commonwealth government has to move carefully when contemplating legal moves affecting the economy because 'what may appear to be a good move may have an unintended harmful impact' on the economy,” it stated.
The article went on to report, “Appearing Monday (August 6) at the monthly meeting of the Saipan Chamber of Commerce held at the Oceana Room of the Hyatt Regency Hotel, Inos, in a prepared speech, said the Northern Marianas needs foreign investment, stressing foreign capital plays an important role in boosting the economy.”
It explained, “Although resource poor in general, Inos said, the CNMI possesses one resource very attractive to foreign investors — ‘an image as an unspoiled tropical island paradise.’ He said the investment climate in the Commonwealth is comparable to Guam and Hawaii, aided by its close proximity to poor Asian countries which supply the CNMI economy with cheap labor.”
Want to learn more? Contact CNMI Archivist Raymond M. Muña at raymond.muna@marianas.edu or call (670) 237-6883.
