8 Apr 2004

Vanuatu PM confident of keeping company clear of political interference

11:04 am on 8 April 2004

A spokesman for Vanuatu's Prime Minister Edward Natapei is confident that his newly-launched consultancy company to secure and invest in public funds on behalf of the government can stay clear of political interference.

The company, which is also called Vanuatu Holdings, replaces the original company by the same name which was set up by the Korman government in 1994.

Mr Natapei said he abolished the original company because it had failed to meet government objectives due to political interference.

His spokesman, Daniel Bangtor says the intention of the relaunched company is to have an appropriate legal framework in place to avoid its predeccesor's failures.

"The previously established Holdings was mainly on a policy level. There was no legal framework at all that would have assisted the entity to be operated pofessionally and profitably."