On the 10th of October,, representatives from the Vanuatu Ministry of Internal Affairs and the Financial Services Commission stated in Hong Kong that Vanuatu has an excellent business environment and hopes to attract more foreign investors, especially Chinese investors, to conduct business in the future.
During their visit to Hong Kong, George Borgrey, the Secretary of the Vanuatu Ministry of Internal Affairs, and Bill Barney, the Chairman of the Vanuatu Financial Services Commission, were interviewed by Xinhua News Agency. Borgrey stated that Vanuatu's business environment is ideal, with opportunities everywhere, and welcomes investors from around the world to conduct business. The country's main industries include tourism, agriculture, finance, and manufacturing.
"Vanuatu implements a 'zero tax rate' policy, has an excellent banking system, and has established its own financial center. We follow common law, and both English and French are officially recognized languages," Borgrey said. This series of elements aligned with international standards is conducive to attracting foreign investors.
According to Borgrey, Vanuatu has been rated twice by international organizations as one of the "happiest countries in the world," with good public safety, friendly and helpful citizens. The local air is fresh, the ocean is clean, and it enjoys a reputation for being "zero" pollution, making it a great place for tourism and vacationing.
Currently, the majority of travelers to Vanuatu come from neighboring countries Australia and New Zealand. Due to the lack of direct flights between China and Vanuatu, the number of Chinese travelers remains at around 200 to 300 each year. The Vanuatu government hopes to discuss establishing direct flights between the two countries, and discussions are currently underway.
"We are very eager to attract more Chinese investors to invest and start businesses in Vanuatu. We have many investment areas to offer and hope that investments from Chinese enterprises will drive the economic development of Vanuatu," Barney said. Vanuatu has many advantages compared to other offshore financial centers and can provide a variety of products such as insurance and financial services agency.
This year marks the 30th anniversary of diplomatic relations between Vanuatu and China. Borgrey stated that Vanuatu and China are long-time friends and believes that the relationship between the two countries will become increasingly close.
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WorldWay Investment Immigration Editor