On October 10, officials from the Vanuatu Ministry of Internal Affairs and representatives from the Financial Services Commission stated in Hong Kong that Vanuatu offers an excellent business environment and hopes to attract more foreign investors, particularly from China, in the future.
While visiting Hong Kong, George Borg, the Secretary of the Vanuatu Ministry of Internal Affairs, and Bill Barney, the Chairman of the Vanuatu Financial Services Commission, gave an exclusive interview to Xinhua News Agency. Borg stated that Vanuatu's business environment is ideal, with abundant opportunities, and welcomes investors from all over the world, noting that the country's main industries are 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 use common law, and both English and French are officially recognized languages," Borg said, adding that this series of elements in line with international standards is conducive to attracting foreign investors.
According to Borg, Vanuatu has been recognized twice by international organizations as one of the 'happiest countries in the world', with good public safety, friendly and helpful citizens, and fresh air and clean oceans, earning the reputation of being a 'zero pollution' paradise—ideal for tourism and vacationing.
He noted that most travelers to Vanuatu currently come from neighboring Australia and New Zealand. Due to the absence of direct flights between China and Vanuatu, the number of Chinese travelers only maintains at around 200 to 300 annually. The Vanuatu government hopes to discuss establishing direct flights between the two countries, and discussions are ongoing.
"We sincerely hope to attract more Chinese investors to invest in Vanuatu; we can provide numerous investment opportunities and hope that investment from Chinese enterprises can stimulate economic development in Vanuatu," Barney said. He added that Vanuatu has numerous advantages compared to other offshore financial centers and can offer a variety of products, including insurance and financial agency services.
This year marks the 30th anniversary of diplomatic relations between Vanuatu and China. Borg expressed that Vanuatu and China are long-time friends and believes that the relationship between the two countries will become increasingly closer.
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WorldWay Immigration Editorial