Nauru - Foreign investment
Apart from the investment in the phosphate industry, now owned by the government of Nauru, there has been little investment on the island. The government of Nauru has large investments overseas in long-term funds financed from phosphate royalties. Nauru also has invested in commercial property development, notably a 53-story office building in Melbourne, Australia.
Plans were approved in 1985 to build an industrial, commercial, and residential complex in Honolulu and, with the help of Japanese companies, a 19-story, 450-room hotel on Guam. Nauru received US $6.7 million from the Japanese government to build the new Anibare Community Boat Harbor at Yaren, scheduled to open in the spring of 2000. In 2002–03, the government is scheduled to receive up to A $30 million for allowing Australia to use the island as a processing centre for asylum seekers.