Hong Kong investors plan lavish investment in Saipan

Aim to build 2,000 hotel rooms.

Media on the island of Saipan, the largest island in the Commonwealth of the Northern Mariana Islands, reports that a group of unidentified Hong Kong businessmen plan to invest up to US$3 billion in the CNMI.

The HK investors intend to build hotels, villas and a private medical center on Saipan and on the two other major CNMI islands of Rota and Tinian, media quoted CNMI House floor leader, Ralph Demapan, who recently visited in Hong Kong with the Governot Eloy Inos on a a fact-finding trip.

CNMI, a Japanese colony until World War 2, relies heavily on tourism revenues. Its population consists of the indigenous Chamorro and Carolinian peoples and overseas foreign workers.