Economy, Culture and Society

HUD Announces $1.5 Million For Community Development and Affordable Housing In American Samoa
August 2, 2012

Economic development plans for the Manu’a Island group in American Samoa will be included in the territory’s Comprehensive Economic Development Strategy, a project of the Department of Commerce working with the Territorial Planning Commission.

A contractor for the project, Lewis Wolman has for the last four months, interviewed private and public sector leaders and other community members for their input on the blue print for the territory’s economic development over the next decade.

A weak American Samoa economy, lack of new investment and work opportunities are some of the issues the local Chamber of Commerce will raise with federal officials during a meeting later this month for this year’s economic census.

The economic census is carried out every five years by the U.S. Census Bureau, with senior officials on island next week to meet with the public and private sector.

Chamber chairman David Robinson says there is a serious weakness in the local economy due to the lack of new investment and new job opportunities.

The American Samoa governor, Togiola Tulafono, is proposing a huge budget increase in the coming year, raising it to close to 500 million US dollars.

The governor’s budget proposal would be nearly 115 million more than the current budget.

It was submitted to the Fono today.

Half the money is expected to come from federal grants and aid through the US Department of Interior.

The rest is from revenue generating agencies, such as the utility company.

The American Samoa Chamber of Commerce is distributing a letter to members with facts and advice on the lending policies of the two commercial banks, ANZ and Bank of Hawaii, and the semi independent Development Bank of American Samoa.

The Executive Board’s letter is in response to concerns from members regarding difficulties in obtaining personal and business loans from the banks.

The letter says commercial banks consider American Samoa a more expensive place to issue loans compared to other locations where they operate.

Officials of ANZ America Samoa Bank and the Bank of Hawaii have been questioned by the House Ways and Means Committee concerning their loan policies.

Chairman Toeaina Faufano Autele says members of the public have complained that the banks are very strict and requiring more documentation and taking more time to approve loans.

Steve Watson of ANZ says they have had to tighten its loan underwriting because there’s less money in the economy.

American Samoa Seeks More Pacific Tuna
Cook Islands delivers first shipment for processing

WELLINGTON, New Zealand (Radio New Zealand International, Sept. 9, 2012) – American Samoa’s Governor Togiola Tulafono is hopeful that other island countries will ship their tuna to be canned in the Territory as the Cook Islands has done.

New Developments Possible For Am. Samoa’s Manu’a Islands
Agricultural, transportation strategies considered

By Fili Sagapolutele

The Department of Commerce and the Territorial Planning Commission is undertaking the first major revision of American Samoa’s Comprehensive Economic Development Strategy (CEDS) in more than a decade.

This strategy is required by the U.S. Economic Development Administration (USEDA) to qualify American Samoa for economic development grants and technical assistance.

American Samoa Visitors Bureau Homepage: An example of an effort to increase tourism as part of an Economic Development Strategy for American Samoa.