FSMPIO – Yap, Federated States of Micronesia, February 2, 2024 – The Federated States of Micronesia Department of Resources & Development successfully concluded the 3rd Resources and Development (R&D) Conference, held in the picturesque State of Yap from January 29th to February 2, 2024. The conference served as a platform to unite stakeholders from the public and commercial sectors in a collaborative effort to enhance productivity and foster economic growth over the next two years.
The week-long conference focused on establishing implementation and monitoring strategies to drive economic growth across various sectors, including trade, investment, statistics, energy, marine resources, agriculture, and tourism. With a comprehensive agenda aimed at reviewing key sectors and progress based on previous recommendations, the conference provided a vital forum for discussions on challenges and opportunities essential for the nation\’s development.
The event was graced by the presence of 165 representatives from the National, State, and Municipal Governments, private sector, banking institutions, civil society, NGOs, and esteemed development partners, including the Asian Development Bank, Secretariat of the Pacific Community, Micronesia Conservation Trust, the Waitt Institute, and the U.S. Agency for International Development.
Notable highlights of the conference included insightful presentations and discussions on various sectors:
Trade & Investment Sector: The focus was on exploring regional opportunities, policies, market access, investment promotion, and fostering collaborations to drive economic growth and promote export-led development.
Statistics Sector: Emphasized the importance of data-driven decision-making and highlighted the preliminary results of the 2023 Census, shedding light on migration trends and areas for data enhancement.
Energy Sector: Addressed renewable energy sources, energy efficiency, and sustainable solutions, with discussions on achieving energy targets and promoting affordability for households and businesses.
Marine Resources and Fisheries: Delved into sustainable fisheries management, marine conservation, and the blue economy, emphasizing the sustainable use of marine resources and the need for capacity building and funding support.
Agriculture Sector: Showcased innovative farming practices, precision agriculture, and policies to boost agricultural productivity, with a focus on capacity building and strategic planning.
Tourism Sector: Explored development strategies, marketing initiatives, and community-based tourism practices to enhance the tourism sector and attract visitors to the islands.
The conference concluded with a formal signing ceremony of the outcome document, reaffirming the commitment of national and state leaders to support the primary goals of each sector. The collaborative efforts and shared insights during the conference are poised to drive sustainable economic growth and development in the Federated States of Micronesia.
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