Remengesau signs bill encouraging high-end foreign investments 

BY BERNADETTE H. CARREON

Palau Correspondent

  KOROR, Palau — Palau President Tommy E. Remenegsau Jr. signed a new bill encouraging high-end investments in hotel accommodations from foreign investors.

  The bill, which was signed into law March 29, also gives tax credit to foreign investors who will come in with their own designed water treatment system, power backups and renewable energy sources to lessen the strain to the environment and existing infrastructure of the country. 

  Under the new law, the Foreign Investment Board will be empowered to prioritize and incentivize high-end hotel resort developments . . .

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