Morin and Steen off to Asia
Investors welcome

by Nancy Gardiner
Northern News Services

NNSL (Apr 09/97) - The territorial government should create a better investment climate for the private sector if it wants to improve the economy.

That's what Northern industry representatives say and that's what Premier Don Morin says he's trying to do.

He's leaving this Friday, bound for Asia with stops in Taipei, Seoul and Hong Kong. Accompanying him will be Nunakput MLA Vince Steen (left), who will represent both the eastern and western NWT on the trip.

It's a trip to seek overseas investors for the Northwest Territories.

Morin missed a previous trip to Asia when he injured a leg just prior to the trip.

Morin will try to attract investors to support the Aurora Fund, an immigrant investment fund incorporated federally and being marketed overseas.

In John Todd's budget address of 1997, he noted the fund has the potential for up to $21 million of reasonably priced debt financing to be available to Northern businesses in the coming construction season.

Units can be sold in the pool of funds with each unit worth $250,000, says GNWT press secretary Val Mellesmoen.

So far, some units have been sold. The government won't say how many, but it hopes to have all the units sold by the end of June.

Morin discussed his upcoming trip to Asia at a news conference Sunday afternoon at the legislature.