Business Resources~
I. Investment in Yap State:
The Yap State foreign investment policy has been developed to encourage investment in Yap and ensure that such investment is consistent with the needs of this island community. Therefore, its policy is to welcome foreign investors and invite them to participate in economic development projects in cooperation with the Yap business community.
Excellent opportunities for investment in Yap State exist in various sectors of the economy including tourism and leisure, information technology, and financial services. There are also investment opportunities in the agricultural industry for activities in agro-processing and export.
Vast spans of ocean surrounding the islands in its economic zones offer resources for large scale ventures such as commercial fisheries, fish processing, marine culture, and commercial exploration of ocean beds for minerals.
The Yap State Government is fully committed to promoting the development of a healthy private sector and recognizes the importance of private sector investment to achieve sustainable economic growth, employment creation, and development of strategic state and national resources. There has been a rapid, yet careful, move towards deregulation and liberalization. Yap State foreign investment policies have been significantly simplified and streamlined to attract a variety of foreign investors.
II. Geographical Location and Access:
Yap is one of four states comprising the Federated States of Micronesia. It covers an expansive 78,000 square mile area of the Western Pacific (7 to10 degrees North and 137 to140 degrees East). The State of Yap is made up of five volcanically raised islands and eight major atolls. These and other uninhabited islands constitute 46 square miles of land. Yap is reached from the East via Guam, and from the West via Palau. Continental Micronesia offers flights to Yap from both Guam and Palau. Distances to Yap from Guam and from Palau are 500 and 280 miles respectively. Local time is GMT + 10.
III. Infrastructure:
A. Air Services:
Air service to Yap State is provided by Continental Micronesia Airlines.