Plans to renovate and expand the Roman Tmetuchl International Airport also known as the Palau International Airport is in the works after the nation’s president Tommy Remengesau Jr. gave his thumbs up to the legislation that supports public and private partnerships for the project.
Remengesau said that the plan is a good example of an innovative way to gain major infrastructure developments without any cost to the government.
The economy of the Pacific island nation relies on the steady flow of visitors from all over the world. The airport expansion project would help the local tourism industry cope with the increasing numbers of visitors from China, Japan, and South Korea.
To encourage private investors to support the project, the government plans to introduce tax exemptions to the contractor to bring down the cost of the construction. The Japan International Cooperation Agency has already issued a U.S. $7.8 million twenty-eight point seven million loan to the Palau government to fund the airport improvements.