23 Aug 2013

Vanuatu MP warns about new investment policies

3:06 pm on 23 August 2013

A Vanuatu MP, Paul Telukluk, has warned that the country could become a banana republic because of the government's investment policies.

Mr Telukluk has told the Daily Post newspaper that an amendment to the Immigration Visa Regulations Order to attract rich investors may end up bringing in poor people from places like Hong Kong.

He says what the amendment should concentrate on is to entice not millionaires but billionaires into the country.

Mr Telukluk says it is not fair to sell the country's citizenship to a foreign investor for 10, 000 US dollars because Vanuatu is not only selling the country's sovereignty but its very soul to the devil.