10 Jun 2013

Vanuatu government to curb Investment Authority

7:17 pm on 10 June 2013

The Vanuatu government is pushing ahead with a plan to transfer the functions of the Vanuatu Investment Authority into the Chamber of Commerce.

The plan was included by the Prime Minister Moana Carcasses Kalosil in his list of measures to be completed within his coalition's first 100 days in office.

The Minister for Tourism and Commerce, Marcellino Pipite, says that over the years VIPA has veered away from its original purpose which was to facilitate investment in the country.

He says there is concern that VIPA has instead taken on a regulator role, hence the government's move to review its functions

"What I already did is appoint a technical review team and they've already finalised a report and we are about to organise a forum that will expose all these ideas - supporting, against, everything - then we will find a way out."

Marcellino Pipite