This initiative is the result of a fruitful meeting he had with the authorities of Ishigaki Prefecture last month.

According to Mr. Remengesau, pearl farming is a thriving industry in Ishigaki and would be perfectly suited to Palau’s climate. Although a similar project had been discussed in the past, negotiations had not succeeded. This year, the group behind Ishigaki’s success will travel to Palau to meet with local authorities and explore the possibility of creating a joint venture.

A feasibility study conducted by this group has identified four sites suitable for pearl farming. Mr. Remengesau noted that it takes an average of eight years to produce black pearls, emphasizing the importance of long-term investment.