Economic Impact of the Guam Buildup |
Your Guam Chamber and our partner organizations gave a brief update to the Guam Legislature's Committee on the Guam Buildup and Regional Affairs on Tuesday, May 10th at the Guam Congress Building. The private sector organizations were invited to provide testimony on the "Economic Impact of the Guam Buildup." Additional presentation sessions were provided by the Government of Guam, the East- West Center; and, Joint Region Marianas.
We would like to thank George Chiu, President, Chinese Chamber of Commerce Guam; Mary Rhodes, President, Guam Hotel & Restaurant Association, and James Martinez, President, Guam Contractors Associations who joined Catherine Castro, President, Guam Chamber of Commerce, and Phillip Santos, Armed Forces Committee Chairman, for speaking at this informational briefing.
View the recordings on the
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Above: AFC Chairman Phil Santos thanked all participants and the Guam Legislature for the opportunity to present the views of the private sector at the May 10th Informational Briefing.
Below: Catherine Castro, Chamber President opened the private sector session with the Chamber's statement.
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2022 - 2023 Dave J. Santos Scholarship |
In honor of the late Dave J. Santos, past Chamber Board Chairman and Guam's 1993 Small Business Person of the Year, and a strong advocate of local entrepreneurship, a scholarship fund was established to assist business students enrolled in the University of Guam's School of Business and Public Administration.
The program was put on hiatus due to the pandemic but is being offered again starting this Fall. The scholarship is open to full-time Juniors or Seniors enrolled at the UOG School of Business & Public Administration. Students with a genuine interest in promoting entrepreneurship are invited to apply.
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General Membership Meeting
Wednesday, May 25, 2022
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Your General Membership Meeting is scheduled on Wednesday, May 25, 2022, 11:30 a.m., at the Micronesia Ballroom, Hilton Guam Resort & Spa. This month's meeting will feature Melanie Mendiola, Administrator/CEO of Guam Economic Development Authority, who will speak on public finance opportunities.
Don't forget to bring your business cards and arrive early to meet and mingle with fellow members! We look forward to seeing you at the meeting.
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Virtual Door Knock 4: ASEAN Summit and IPEF (May 31 SIN) |
The AmChams of Asia Pacific will hold the fourth in its 2022 Virtual Door Knock Series that will focus on the Indo-Pacific Economic Framework, Trade, and ASEAN.
Ambassador Ashok Mirpuri, Singapore Ambassador to the US, will provide his view on the US-ASEAN Special Summit and the evolving engagement between the United States and the region, especially as it related to the Indo-Pacific Economic Framework (IPEF).
Dr. Deborah Elms, Founder and Executive Director of the Asian Trade Centre, will provide her insights on how the IPEF will be incorporated into the existing regional trade architecture.
Ambassador (ret) Rufus Yerxa, former Deputy USTR, will provide the context of how the IPEF will compare to existing US trade agreements.
Any member of any AmCham in the Asia-Pacific region can register. Please rsvp to rebekah@guamchamber.com.gu
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Guam Human Rights Initiative – UOG Survey |
Dear Survey Participant,
The Guam Human Rights Initiative will be conducting a study regarding Corporate Social Responsibility.
You will be asked to voluntarily complete a survey that will take approximately 15 minutes to complete. A few questions will be demographic data for statistical purposes. Please feel free to decline to answer any questions that you may be uncomfortable with.
Risks are minimal to none. Data will be collected online and confidentiality will be maintained. No names or other identifiers, such as IP addresses, will not be collected.
You are free to withdraw from this project at any time without penalty or loss of benefits to which you would otherwise be entitled. All the information you provide will be treated confidentially. Further information can be obtained from the Office of Research and Sponsored Programs at the University of Guam concerning pertinent questions about the research and an explanation of your rights as a research subject. The Research and Sponsored Programs serves as the official contact office in the event of research related injury to you 671-735-2672.
Thank You,
Erika Anderson, ABD, MPA (Co-Investigator)
Guam Human Rights Initiative
University of Guam
Mary Kate Soliva, MPA (Co-Investigator)
Guam Human Rights Initiative
University of Guam
John J. Rivera, Ph.D. (Faculty Mentor)
Associate Professor, Public Administration
Director, Regional Center for Public Policy
University of Guam
CHRS# 22-70
Survey Deadline: May 20th
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Streaming now
on Spotify and YouTube!
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In this first episode, we introduce the podcast host, Catherine Castro, President of the Guam Chamber of Commerce, and our 2022 Chairman of the Board, Ed Untalan, who discuss what the Guam Chamber of Commerce has in store in the coming months and what to look forward to in future podcast episodes.
Have a listen and let us know what topics you are interested in the Chamber covering in future episodes.
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DID YOU KNOW?
With your Chamber Health Insurance Plan, you can register/login to your member portal at www.calvos.net and have immediate access to your claims history, plan benefits, and deductible accumulator?
Ask us more about our group Health Insurance Plan! Call (671) 472-6311 for details.
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Roll Back Guam's BPT For All Businesses!
Sign the Petition Today!
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Action PAC, Inc. invites all legal voting-age residents of Guam to sign the petition to roll back the Business Privilege Tax (PBT) from 5% to 4% or more immediately and have their voices heard by our elected officials.
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2021 Guam Business Magazine Executive of the Year |
We would like to congratulate Chairman Untalan for receiving the 2021 Guam Business Magazine Executive of the Year. Kudos to all nominees for their great achievements in our community. |
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Photo courtesy of MBJ (Photo taken by Justin Green). |
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Historic Levels of Inflation Aren’t Going Away
Yesterday, we learned the price of consumer goods rose 0.3% last month and 8.3% in the last year.
Be smart: While the Federal Reserve focuses on the demand side through raising rates to cool the economy, only the administration and Congress can address the policy sides affecting inflation – workforce, energy, and tariffs are three key places to start.
- Worker shortage: The U.S. economy has 11.5 million open jobs, but three million fewer workers than if labor force participation was equal to the pre-pandemic level. Getting people back to work and expanding legal immigration is key.
- Energy prices: Record-high gas prices are hurting businesses and families. We need additional U.S. energy production, but that requires investment that is possible only if the administration sends clear signals that they will support domestic production not just in the near-term, but over the medium term.
- Tariffs: The U.S. is imposing record levels of tariffs – which are just taxes. These distort markets and cost American families about $1,200 a year, according to the Congressional Budget Office. It is time to begin providing tariff relief to American families and businesses.
Bottom line: Congress and the President must focus on the solutions that only they can deliver.
HIGH INFLATION PERSISTS
Prices rose 0.3% in April from March and 8.3% over the last year according to the Bureau of Labor Statistics.
Why it matters: The big drop in monthly inflation and the slight dip in annual inflation may cause some to say we’ve turned a corner. However, gas dropped more than 6% last month, which took some steam out of overall inflation.
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But: Core inflation, which takes out volatile food and energy prices, surged 0.6% in April – double its March reading. That’s 6.2% on an annual basis, the highest in 40 years. We aren’t out of the woods yet.
By the numbers:
- The 0.3% increase from March to April was a big decline from February to March (1.2%). The annual number dipped too, from 8.6% in March.
- The biggest contributors to inflation in April were housing (5.1% annually), food (9.4%), airline fares (18.6%), and new vehicles (13%).
Be smart: The Fed’s actions to curb inflation – higher interest rates and selling its holdings of securities – will bring inflation down, but it will take several more months to see its effects.
- In the meantime, increased prices for services, housing, energy, and food are likely to keep inflation around its current high level for at least a few more months.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
Articles of Interest:
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2022 Pacific Defense Contracting Summit |
You are invited to attend the 2022 Pacific Defense Contracting Summit September 27-29, 2022 Honolulu, Hawaii. Take advantage of early registration rates register now.
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If you would like to vote but are not registered, you can register online at the Guam Election Commission's website. You will need to have either a valid Guam Drivers License or Guam identification card to register electronically.
Dates to remember:
Guam Primary Election: Saturday, August 27, 2022 [Polls open: 7 am - 8 pm]
General Election: Tuesday, November 8, 2022
[Polls open: 7 am - 8 pm]
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I Bisinun Mami- Malesso' & Humåtak |
Friendly reminderI Bisinun Mami- Malesso' & Humåtak next training will be at the Malesso Senior Citizen Center on Saturday, May 14, from 9am to 12pm.
Below is the link to register for I Bisinun Mami and our Village Training Calendar.
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