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We
offer Palau real estate investment information for Koror, Chelbacheb,
Babelthuap, Sonsoral Islands, Pulo Anna, Merir, Tobi and the
Kayangel Islands. Scroll down for more information about Palau.
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About
Palau
Palau
Population: 20,016 (July 2004 est.)
Languages: English and Palauan official in all states except
Sonsoral (Sonsoralese and English are official), Tobi (Tobi
and English are official), and Angaur (Angaur, Japanese, and
English are official)
Capital: Koror
Government Type: Constitutional government in free association
with the US; the Compact of Free Association entered into force
1 October 1994.
Independence Day: 1 October 1994 (from the US-administered UN
Trusteeship)
Legal System: based on Trust Territory laws, acts of the legislature,
municipal, common, and customary laws.
Currency: US dollar (USD)
Executive
Branch:
Chief
of State: President Tommy Esang REMENGESAU, Jr. (since 19 January
2001) and Vice President Sandra PIERANTOZZI (since 19 January
2001); note - the president is both the chief of state and head
of government.
Head of Government: President Tommy Esang REMENGESAU, Jr. (since
19 January 2001) and Vice President Sandra PIERANTOZZI (since
19 January 2001); note - the president is both the chief of
state and head of government.
American
Embassy: Koror (no street address)
Mailing Address: P. O. Box 6028, Republic of Palau 96940
Telephone: [680] 488-2920, 2990 Fax: [680] 488-2911
General Overview: After three decades as part of the UN Trust
Territory of the Pacific under US administration, this westernmost
cluster of the Caroline Islands opted for independence in 1978
rather than join the Federated States of Micronesia. A Compact
of Free Association with the US was approved in 1986, but not
ratified until 1993. It entered into force the following year,
when the islands gained independence.
Economic
Overview: The economy consists primarily of tourism, subsistence
agriculture and fishing. The government is the major employer
of the work force, relying heavily on financial assistance from
the US. Business and tourist arrivals numbered 50,000 in FY00/01.
The population enjoys a per capita income twice that of the
Philippines and much of Micronesia. Long-run prospects for the
key tourist sector have been greatly bolstered by the expansion
of air travel in the Pacific, the rising prosperity of leading
East Asian countries, and the willingness of foreigners to finance
infrastructure development.
International
Disputes: None
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