Welcome to the Website of the Republic of Vanuatu Trade Commission in the Hong Kong S.A.R. – the premiere destination for investment in the south west pacific region.
As Prime Minister, I bring you greetings from the Government and People of the Republic of Vanuatu.
I wish to extend a warm welcome to all those who wish to visit our shores and warmly welcome investors who intend to participate in the commercial development of our Nation through investment.
If you are thinking of starting a new investment or expanding your existing business activity, Vanuatu is your number one choice of investment destination. Our country has been voted twice as " the happiest place on the planet" by the happy planet index and has been ranked highest in the region on " ease of doing business" by a study conducted by the World Bank in 2009. Come invest to discover and experience the reality yourself.
Even if you have just a little idea about Vanuatu, you may have heard of the name " The New Hebrides" administered by British and France. This small island pacific nation emerged as an independent state in 1980 and called “Vanuatu”. It quickly gained popularity throughout the world as an Investment and Tourist destination because of its unique features rarely found in its neighboring pacific island countries and territories.
Of the many great reasons to invest in Vanuatu, here are some of the specific advantages:
Vanuatu is tax friendly
No income tax
No withholding tax
No capital gain tax
No death duties
No foreign exchange controls
Easy repatriation of profits
Strong financial center
Reasonable labor cost
Boasting a strong professional infrastructure that emanates from the Offshore Finance Centre and their ability to attract a core of highly experienced professionals to the country
Duty exemptions in imports in Tourism (hotel, island bungalow); Manufacturing/ Processing; Mineral Exploration and Extraction; Diesel fuel for generation of certain electric power; Fishing Industry Equipment for village and rural fishing projects
Vanuatu is endowed with a wide array of non-mineral resources and its productive sectors have significant untapped potential. Its world-renowned beef, first-class coffee, prized sandalwood oil, expansive fishing grounds and a plethora of exotic natural vegetable and sea life are examples of a few excellent investment opportunities. Recent development in the Fisheries sector has seen the establishment of a locally-owned Tuna Fishing Vanuatu company in 2009. Furthermore, a Chinese-backed fish cannery is being built, with the intention of processing big eye and yellowfin tuna for export. Other excellent opportunities are available and I welcome and encourage interested investors from Asia to visit Vanuatu and explore such opportunities.
Vanuatu has made significant economic and social gains since 2003, with the rate of economic growth averaging 6% from 2003 through 2008. The achievement of strong economic growth has occurred on the back of improved economic policy and effective fiscal management. Greater political stability has also been important, bringing with it improved investor confidence, better policy outcomes, and strong development partner support. Continued efforts to improve the enabling environment for private sector development will ensure sound economic and social outcomes as the nation continues to develop.
Recent developments (ADB report 2011 – Pacific Economic Monitor) have seen the country’s economy recorded an eighth consecutive year of growth of 3.0% in 2010, driven mainly by agriculture and construction spending. Tourism, Vanuatu’s main economic driver has seen a slight decrease due to a decline in the number of tourism arrivals. However, growth is forecasted at 4.2% for 2011. The driver is an expected recovery in tourist arrivals from Australia, boosted by the firm economy, a strong Australian dollar, and an increased number of flights. Agricultural production is expected to pick up in response to higher commodity prices.
Vanuatu will be the right destination to achieve your business goals in the pacific region effectively and efficiently. Vanuatu Investment Promotion Authority (VIPA), a government created Investment Promotion Agency, is always ready to serve potential investors interested to do business in Vanuatu. Or log on to their website (http://www.investvanuatu.org) for more information.
We look forward to serving you with your business plans in Vanuatu.