April 25, 2020 12:00 am | Posted in Features
Internationally, Economists are predicting that the COVID-19 Crisis will result in the worst recession since the Great Depression in the 1920s.
Business owners are extremely worried about the long term implication of the crisis and survival of their businesses. The Vanuatu Government should be applauded for its plans to implement an economic stimulus package with the Employee Stabilisation Payment programme and Financial Institutions like the banks and the VNPF have announced policies to assist both employers and employees.
Read more» March 28, 2020 8:00 am | Posted in Features
As the Vanuatu Government closes the borders in response to the threat of COVID-19, the country’s Tourism and Hospitality sector has shut down. Air Vanuatu has suspended all flights in and out of the country indefinitely and cruise ship arrivals have completely stopped.
The business sector is extremely concerned on the short and long-term effects this will create to Tourism and Hospitality as it contributes over 40% to Vanuatu’s GDP and is a large employer.
Read more» February 29, 2020 11:39 am | Posted in Features
On 15 January 2020 the new Foreign Investment Act no. 25 of 2019 was gazetted, repealing the Vanuatu Promotion Investment Act Cap [248].
The Act is to establish the Foreign Investment Promotion Agency (replacing the Vanuatu Investment Promotion Authority – VIPA) which is composed by the Board, the Chief Executive Officer and other staff, to implement the functions and activities provided by the Act.
Read more» January 29, 2020 8:00 am | Posted in Features
The category 5 Cyclone Pam hit Vanuatu in March 2015. This was the biggest cyclone since Uma to have such a destructive effect on the nation.
Over the years since the disaster, we can see the people have recovered and continued with their lives. That is on a personal basis and results to vary between individuals.
Read more» October 14, 2016 3:08 pm | Posted in Features
We took the red pen to the government's tax proposal
The Consultation Paper for the Government’s proposed tax plan fails in many ways.
We showed it to multiple experts with significant experience in—and understanding of—Pacific island economies. We also canvassed local business owners and other stakeholders. Without exception, the plan was rejected. People characterised it as flawed, rushed and—more to the point— downright dangerous to the national economy.
Read more» September 16, 2016 11:46 am | Posted in Features
Nik Soni asks if we’re about to repeat the sins of the past
Two decades ago Vanuatu was in crisis. The Government, the National Provident Fund and the National Bank had run out of money. Around the region there was similar financial turmoil, and in their desperation many countries turned to the international community for help. The solution was to borrow more, introduce new taxes, spend less and sell the nation’s assets.
In a word: ‘austerity’.
Read more» September 16, 2016 11:45 am | Posted in Features
Vanuatu’s new strategic plan presents an inclusive vision for development. But is it too inclusive?
In October of 2013, a high-level gathering occurred that now seems set to define the progress of the nation for a generation.
Read more» August 4, 2016 2:26 pm | Posted in Features
Are Vanuatu‘s days as a tax haven numbered?
Before sunset we sat in a circle to drink kava. My friend Tim passed around some smol kaekae to wash away the taste. Gathered for a fundraiser to help a friend pay her daughter’s school fees, we chatted as group of children played nearby. Who belonged to which parent? Later, a plate of chicken legs and island cabbage followed – for everyone.
Read more» July 1, 2016 3:03 pm | Posted in Features
Ugly duckling, Goldilocks, Or Alice through the looking glass? How will Vanuatu’s economic story unfold?
Like Cinderella casting off her rags before the ball, Vanuatu is intent on writing itself a new story. Gone is the mindset that told us to sell the cow for a handful of beans. Today, we’re undergoing a transformation— an unprecedented level of infrastructure and development investment. But one lingering question remains: Are we Goldilocks getting things just right, or are we Alice, about to tumble down the rabbit hole?
Read more» June 16, 2016 10:30 am | Posted in Features
At first glance, the new Luganville wharf looks like a vast expanse of nothing. But that’s kind of the point.
Roughly 7,000 cubic metres of earth were moved in the construction process, and by the time construction is finished in June next year, the contractor will have constructed or refurbished 20 separate structures.
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