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The reports in this section provide an analysis of the economic and financial forces influencing Guam, the Western Pacific and the surrounding region.
While industrial East Asia has largely recovered from the 1997-98 financial crisis, the prolonged Japanese economic stagnation and the September 2001 terrorist attacks on New York and Washington,D.C., have had continued unfavorable effects on Guam and the rest of the area.
The Guam economy is in the midst of a strong economic expansion owing largely to its booming tourism, the construction industry and the huge U.S. military presence. Various projects and initiatives are continually being developed by both the public agencies and private companies to promote growth and progress in the abovementioned sectors. To provide a more stable and diversified economic base, the government has likewise started “cultivating” other sectors such as bonded warehousing, captive insurance and legal arbitration. Guam is committed to developing the island as the hub of economic activities in the Marianas. We look forward to working with expanding local and multinational companies and new firms interested in making Guam as their home.
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