Investment Promotion Authority to drop business fees by 75%
By Thompson Marango
PORT VILA, Vanuatu (Vanuatu Daily Post, Dec. 7, 2016) – Since the country was struck by Tropical Cyclone Pam last year, businesses have voiced their concern about the struggle to recover, their voice has not fallen on deaf ears, the Vanuatu Investment Promotion Authority (VIPA) has announced its intention to drop business fees by 75%.
VIPA Acting Chief Executive Officer (CEO), Raymond Vuti told KIzzy Kalsakau of Buzz FM news that the initiative will start next year to allow struggling businesses to regain full operation. At the moment a new application to do business in Vanuatu stands at Vt 120,000 [US$1,100], the amount was increased last year straight after Cyclone Pam.
Recently VIPA was very concerned to learn that at least 40 businesses are said to be on shaky ground due to various factors affecting their operation.
“This news is very concerning to VIPA,...