ASG working towards formalizing a Public-Private framework
Governor Lemanu Palepoi Sialega Mauga says efforts to diversify the local economy and the American Samoa Government are working towards formalizing a Public-Private framework allowing investment by the territory’s business development.
The governor’s statement is outlined in his June 05 letter to the U.S. Government Accountability Office in response to the American Samoa segment in the Public Debt Outlook 2023 Update report.
According to the GAO, American Samoa’s economy is stable but depends almost entirely on the activity generated by the Starkist Samoa Co. tuna cannery and government employment.
The governor said ASG will be launching the American Samoa State Small Business Credit Initiative, which will allow local businesses access to capital prioritizing.
Also, they are working towards developing the broadband industry and plan to build an innovation and technology Park to attract IT businesses to utilize 200gb broadband capacity. Plans and design to construct a medical plaza facility are underway as a tech hub in the south pacific region.
The governor said the local construction industry is booming, with ten specified projects under the downtown revitalization master plan.
This effort upgrades critical infrastructure from Utulei to Pago Pago, and one of the key projects in that space includes a commercial boardwalk for more businesses towards formalizing a public partnership framework.
These are prime examples of how ASG strategically diversifies the local economy.