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Guam seems to be a promising investment area as far as the Filipino businessmen who attended the recent Guam Trade Mission conference are concerned. The conference which was held at the Renaissance Hotel attracted 172 Filipino executives and businessmen.

In the said conference, a Guam-Philippine Business Council was also formed to push forward and strengthen trade and investment ties between businessmen from both countries.

Jesus Francisco, one of those who attended the conference said, “I’m interested to look at the opportunities in Guam in the areas of eletro-mechanical building transmission lines, power plants… for Miescor. So I’m glad I attended this conference.”

Francisco was a former president of the Manila Electric Co. (Meralco), and is now chairing Meralco’s subsidiary, Meralco Industrial Engineering Services Corp. or Miescor.

Jorge Yulo, who is the president and chief executive officer of 1 Document Corp., also attended the conference. He said he is “investigating a number of opportunities in Guam in IT,” specifically in data conversion. His firm recently assisted Land Registration Systems, Inc. which implemented the Land Titling Computerization Projects of the Land Registration Authority.

Yulo said, the “proximity of Guam to the Philippines and its citizens’ similarities with us Filipinos” make the island an ideal investment area for Philippine companies.

However Filipino entrepreneurs investing in Guam is not entirely new. We have entrepreneurs from our country who already have stake at the said state. Lucio Tan, for example, have varied interest in malls, telecommunications and real estate, together with his family.

Mall chain king Henry Sy and family has an SM Department as well as real estate interests; Siggaoat ‘Manels Leathergoods Corp. has a shoe store, Shoemaker’s Shop Inc., owner of the Hush Puppies franchise in the Philippines, also owns the franchise of the shoe company on Guam. Yellow Cap Pizza Co. also has an outlet there.

One factor motivating the entrepreneurs now to invest in Guam is the relocation of some 40,000 US military personnel, dependents and civilian workers to the island over a five-year period.