Ministry of Finance moves to EX FOL for VT2.5M a month
January 27, 2025 10:42 pm | Posted in Business News | Share now TwitterFacebook
By Vourie Molivakoro.
The Ministry of Finance and Economic Management (MoFEM) has temporarily moved to the EX FOL complex under a VT2.5 million monthly rental agreement, starting this week.
Under the agreement with the Vanuatu National Sports Authority (VNSA), the ministry will use the complex for three months, from January to March this year. However, the authority confirmed it could be extended up to three years.
Located opposite the Port Vila’s main Market House, the ministry’s premises was deemed unsafe after last month’s earthquake. The building, along with the Presidential Palace, was a gift from the Chinese Government and was handed over to the Vanuatu Government in mid-last year.
Moving into the building would save the ministry rent cost, but they will now pay rent for the temporarily relocation due to the damage.
VNSA Chief Executive Officer, Trevor Toka, highlighted the evacuation centre’s vital role in supporting government ministries.
“We assist the ministry as one of the country’s key institutions, and given the longstanding relationship between our organizations, it is only fitting that the space is allocated to them. Moreover, their substantial financial contribution will significantly benefit the National Sports Authority,” he said.
The evacuation centre was funded by the Australian government and constructed by Roofing Vanuatu and Bramley Construction, both of which are local companies based in Port Vila.
The facility withstood the impact of the deadly earthquake, and CEO Toka expressed hope that similar resilient structures would be developed across the capital.
Other departments, including the Customs and Inland Revenue Department, also moved to the complex and have already commenced operations.
Currently, an new office space is being constructed within the evacuation centre compound for the high office to finally settle there for the next couple of months.
