Guam trade mission to meet local biz leaders

Written by Ma. Stella F. Arnaldo / Special to the BusinessMirror

AROUND 150 business leaders from some of the country’s major companies are expected to participate in a three-day conference with a Guam trade mission, from Tuesday to Thursday at the Renaissance Hotel in Makati.

Guam Gov. Felix Camacho will lead the trade mission of prominent Guam businessmen, some of whom already have business ties with Filipino companies. In an interview with the BusinessMirror, Peter Sgro Jr., president and chairman of the International Group Inc., and a key organizer of the trade mission, said the conference will reach out to Philippine business leaders interested in the island and who have not met or dealt with Guam representatives nor have visited the island.

Referring to members of the trade mission, Sgro added: “Our companies have been doing business in the Philippines for close to 10 years now, and we are often asked about business opportunities on Guam.” He said recent credit-rating reports and economic assessments by Standard&Poor’s, Fitch Ratings Agency and Moody’s Investors’ Service “all indicate the Philippines remains economically stable despite the global financial crisis, and our interactions have included serious expressions of interest to invest in Guam.”

Beginning June 30, a variety of experts will discuss opportunities on Guam in the areas of technology, medical services, real estate and construction, agriculture, captive insurance and the coming military buildup.

An estimated 8,000 jobs are seen to be opened for Filipino skilled workers once the US Marines begins transferring its base from Okinawa, Japan, to Guam. The transfer—including the construction of housing facilities, infrastructure, recreational facilities, schools and the like—is estimated to cost about $787 million.

One featured speaker is Jose Ricardo “Ricky” Delgado Jr., president and chief executive officer of Manila-based Citadel Holdings, who oversees the company’s telecommunications subsidiaries in Guam and the Northern Marianas Islands.

He will talk on his experiences and success at doing business in Guam.

According to Sgro, some of the Manila-based firms which confirmed their participation in the conference are Stradcom Corp., Petron Corp., Philippine Long Distance Telephone Co., Citadel Holdings Inc., Penta Capital Investment Corp., HP Diagnostic, Chemical Industries of the Philippines, Land Registration Systems Inc., Saludo Fernandez Aquino & Taleon Law Offices, and the office of the Philippine representative of the Asian Development Bank.

“Our focus is to invite executive-level individuals to the conference that are already familiar with Guam, but need additional information and encouragement to include Guam in their plans to invest abroad,” Sgro said.

Governor Camacho, while not on an official visit to the Philippines, will meet with chief executive officers of Philippine companies interested in Guam.

Joining Sgro in the trade mission to Manila is Franklin Arriola, chief executive officer of Pacific Rim Brokers Inc., which imports and distributes the Mama Sita’s line of marinades, mixes and sauces in Guam. He will discuss opportunities in agriculture and aquaculture.

David Silva, resident manager for Century Insurance Co. (Guam) Ltd., a subsidiary of Tan Holdings Corp., which has offices in Manila, will discuss the captive insurance and financial-services markets in Guam.

“Over the last few years, several of us, in different capacities have met with business professionals in Manila. We’ve gone through the Guam 101, telling of the three-hour flight, US laws and good banking and telecommunications infrastructure. With the Guam buildup and the many calls I’ve been getting about opportunities here, the timing is appropriate for Guam 202. We hope to connect specific Guam business opportunities to Manila businesses,” he said.

Also a prime mover of the trade mission, Maureen Maratita, publisher of Glimpses Publications, said the Manila conference is timely. “I was approached by a prestigious medical expert in the Philippines who is interested in a closer relationship with the medical community in Guam. I am glad there is an opportunity for him and others we are in contact with to hear firsthand how they can invest in Guam and bring their unique expertise to the island at the same time.”