Guam Industry Forum highlights US$11b in projects

Jul 1, 2024 | 2024, Blog, Guam, News, Pacific

The Guam Industry Forum 2024, hosted by the Society of American Military Engineers (S.A.M.E.) Guam Post, has underscored the massive economic impact of ongoing and upcoming US military construction projects across the Micronesia subregion. The forum, scheduled from November 14-15, 2024, at the Dusit Thani Guam Resort, will bring together government and industry representatives to discuss the strategic defence investments totalling over $11 billion earmarked for the region over the next five years.

These projects are part of a broader effort to enhance United States’ military readiness in the Indo-Pacific region. They include significant upgrades and new constructions on Guam, Northern Mariana Islands, Palau, and the Federated States of Micronesia. Approximately $2 billion of the total investment is specifically allocated for projects on Guam, where military construction efforts are already underway. These efforts include developing facilities at Camp Blaz, a new Marine Corps base, and extensive upgrades at Andersen Air Force Base​.

The forum aims to attract businesses from the US and allied nations to participate in this unprecedented construction boom, which offers vast opportunities for contractors, architects, engineers, and suppliers. Participants will have the chance to network with military decision-makers, government officials, and key local businesses, facilitating collaborations that could drive significant economic growth in the region.

Captain Robert Stiles, the officer in command of construction at Marine Corps Marianas, highlighted that the projects range from live-fire training ranges to various support facilities, emphasizing the scale and complexity of the work involved. This historic investment is expected to provide a substantial boost to the local construction industry and supply chains, creating jobs and promoting economic stability in Guam and surrounding areas​.

These developments underscore the strategic importance of the Pacific Islands in US defence planning, particularly in light of rising geopolitical tensions in the Indo-Pacific region. The Guam Industry Forum will play a crucial role in ensuring that these ambitious projects are successfully implemented, benefiting both the local economy and the broader goals of US military strategy.

A small delegation of Executives of the Australia Pacific Islands Business Council will be visiting Guam in July. Click here for details.