|
 |
IFC Supports Community Consultations on Foreign Direct Investment in Vanuatu
In Sydney:
Sara King
Phone: (+61) 412887645
E-mail: Sking@ifc.org
Port Vila, Vanuatu, November 6, 2009—IFC,
a member of the World Bank Group, is helping the government of Vanuatu
conduct consultations to improve the investment climate there by informing
the public and local officials of the parameters and benefits of direct
foreign investment and facilitating a dialogue on the subject.
Officials from the Ministry of Trade,
Commerce, Industry, and Tourism; the Vanuatu Investment Promotion Authority;
and IFC will carry out extensive consultations on the topic in Tanna, Luganville,
Lakatoro, and Port Vila. Members of the provincial government, the business
community, and civil society will be invited to attend the forums. Participants
will discuss the existing system for foreign direct investment and its
role in generating sustainable economic benefits for Vanuatu.
“This is an excellent opportunity for
the government to engage with the community on an issue that affects them,”
said Smith Tebu, CEO of the Vanuatu Investment Promotion Authority. “We
believe that when foreign direct investment is done in the right way, it
can be a vehicle for delivering more jobs, generating higher levels of
income for people, and increasing government revenues.”
Jimmy Andeng, World Bank Group Advisor
on Investment Climate, said, “We are delighted to be assisting the government
of Vanuatu in its consultations with communities. The outcomes of these
consultations will better inform government efforts in this key reform
area.”
IFC promotes private sector participation
to foster sustainable economic growth in Vanuatu and is funded by the governments
of Australia, New Zealand, and Japan. The first community consultation
will be held in Tanna from November 9 to November 11, followed by Luganville
from November 16 to November 17, and Lakatoro from November 18 to November
20. Workshops also will be held in Port Vila in December.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $14.5
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
|
|