Cooperative Investment Agreement Between Yap State and Chengdu Century City New International Convention and Exhibition Center Company Ltd

Cooperative Investment Agreement Between Yap State and Chengdu Century City New International Convention and Exhibition Center Company Ltd (Report). Colonia, Yap: Yap State Government. 2012-08-11.

• Has attachment: File:QAIFJ59U.pdf

Abstract: The fully executed cooperative investment agreement dated August 11, 2012 between the State of Yap, Federated States of Micronesia, and Chengdu Century City New International Convention and Exhibition Center Company Ltd., an entity associated with the Exhibition and Travel Group (ETG) led by Deng Hong; establishes a comprehensive framework for large-scale tourism, commercial, and real estate development across Yap State; defines ETG’s rights to develop and operate the project under a Master Plan with broad authority over construction, management, and associated business entities; includes provisions for long-term land leases, infrastructure development including roads, utilities, airport and port upgrades, and construction of public facilities such as hospitals, schools, and a new state capitol; outlines commitments to environmental compliance, employment of Yapese citizens, and support for local goods and services; grants significant protections to ETG including limitations on expropriation, rights to international arbitration through ICSID, and commitments by the State to pursue legal and regulatory changes favorable to the project. This document represents the definitive legal embodiment of the ETG project at its peak formalization and became a central focus of criticism by legislators, traditional leaders, and citizen groups.