The people of the Republic of Vanuatu are primarily engaged in primary industry production activities, mostly involving agriculture, with crops supplying approximately 65% of Vanuatu's needs. In addition, fishing and animal husbandry are also among the main economic activities in Vanuatu. Tourism is also very important in Vanuatu and is one of the basic sources of government revenue.
Politics
Vanuatu became independent on July 30, 1980, established diplomatic relations with the People's Republic of China in the same year, and became a member of the Commonwealth of Nations, enjoying political stability.
It joined the United Nations in 1981 and the Non-Aligned Movement in 1983. Vanuatu has joined many international organizations, including the World Bank, the Asian Development Bank, the International Monetary Fund, the Agency for Cultural and Technical Cooperation, and the Organisation internationale de la Francophonie.
Parliament
Vanuatu implements a parliamentary democracy that guarantees human rights and has a sound legal system. Its head of state is the President, Baldwin Lonsdale, who took office on September 22, 2014, for a five-year term. The President is elected by Parliament, and a candidate must obtain two-thirds of the votes to be elected. The political head of Vanuatu is the Prime Minister, currently Joe Natuman.
The Parliament of Vanuatu is unicameral, consisting of 52 members who are elected by the people for a four-year term.
Population
Approximately 260,000 people, including indigenous residents, Europeans, Pacific Islanders, and Asians. About 80% of the population practices Christianity.
Time Zone
Close to the time in China, only three hours ahead.
Official Languages
English, French, and Bislama.
Vanuatu Tourism
Vanuatu features rich, lush tropical rainforests, volcanoes, shimmering blue lagoons, turquoise oceans, hanging waterfalls, and colorful beaches. Surrounding the land is a magical turquoise ocean, where in the fascinating underwater world, colorful tropical fish swim around vast coral reefs. Vanuatu has been named the "Happiest place on planet" four times by a British organization.
Ideal Investment Destination
Vanuatu has abundant resources and vast industrial potential, making it the best investment opportunity.
Relaxed Economic Environment
A free economy with no asset ownership or foreign exchange controls, allowing investment profits to be easily repatriated.
Zero-Tax Investment Paradise
Vanuatu is known as a "tax-free paradise." Investing in Vanuatu requires no income tax, capital gains tax, or inheritance tax, and there is no global taxation.