19 Jan 2006

Strong year for foreign investment in Vanuatu

10:15 am on 19 January 2006

Vanuatu experienced a sharp increase in foreign investments in 2005.

Vanuatu Investment Promotion Authority figures show it has also been a record year for approvals for new investment projects.

The total number of new investments last year including new investments, variations and existing investments totalled 182.

The biggest market for foreign investors that come to invest in the country is Australia, followed by China, France and others.

Most of the projects approved last year have been in the tourism sector.

The total amount of the proposed investments approved by VIPA Board in 2005, is over US$200 million.