Foreign investor interest in Vanuatu is increasing according to the 2008 annual report of the Vanuatu Investment Promotion Authority.
The Daily Post quotes the report as saying that compared to 2007, there was an increase of 15% in new applications.
30% of the total number of applications were approved.
They include new projects and renewals of existing or private investor applications.
The five major contributing sectors with highest proposed investment value were joint ventures between foreign investors and locals with 27%, investors from Australia 26%, Ireland 20%, France 14% and other European countries at 8%.
A total of 2,245 new local jobs were reportedly created but the figures are set to continue to increase.
The highest value of investment was in the telecommunication sector.
Port Vila remained the biggest target for investors in 2008 with 66% of all applications, Luganville came next at 16%, while Shefa province attracted 11%.