Vanuatu joins Japan-Pacific Investment Forum for post-COVID growth

October 30, 2024 9:54 pm | Posted in Business News | Share now Twitter Facebook

The Department of Tourism (DoT) recently attended the Japan-Pacific Islands Regional Investment Seminar, supported by the Pacific Islands Forum (PIF) Secretariat, held in Suva, Fiji, from 28–29 October 2024.

The DoT reported that 17 Japanese companies, representing five priority sectors, were invited to present their business profiles and explore partnerships with Pacific Island government and private-sector stakeholders who are ready for investment.

This event offered an invaluable networking opportunity, linking government stakeholders with international investment firms to encourage collaboration.

The seminar is part of the Japan-supported project, “Economic Recovery through the Promotion of Trade, Investment, and Tourism in Forum Island Countries.”

“The $1.07 million project, introduced by the Government of Japan, is a vital component in our post-COVID-19 economic recovery strategy,” stated the DoT. “Its purpose is to build resilience and drive growth by boosting trade, fostering investment, and revitalising tourism between Forum Island Countries and Japan.”

This project aligns with the goals of Pacific Islands Forum Leaders, who emphasised these priorities in the Resource and Economic Development theme of the 2050 Strategy for the Blue Pacific.

The project has four core objectives:

Promote tourism and exports from Forum Island Countries to Japan;
Increase Japanese investment in Forum Island Countries;
Boost exports from Forum Island Countries to Japan; and
Establish an online platform to connect stakeholders from Japan and Forum Island Countries.

The PIF Secretariat coordinated the two-day seminar, where participants from various Pacific Island countries presented their investment priorities and engaged with Japanese companies across five sectors—Tourism, Renewable Energy, Agriculture (including food processing), Fisheries, and Livestock.

Countries in attendance included Vanuatu, Fiji, Tonga, Papua New Guinea, Solomon Islands, New Caledonia, Cook Islands, and Samoa.