Ministry of Trade, Tourism, Commerce and Industry
The Ministry of Trade, Tourism, Commerce and Industry co-ordinates the formulation and implementation of government’s policy for the development of tourism, commerce and industry through promoting and facilitating increased investment and trade by local and foreign investors. Government policy on investment and trade is to:
- Promote and facilitate inter-island trade and marketing of goods and services
- Develop an export trade capability for Vanuatu within the overall framework of regional and international trade agreements
- Promote and facilitate increased investment in Vanuatu by foreign investors
- Promote tourism development
- Promote the establishment of processing and manufacturing industries
The Ministry coordinates the functions performed by:
- Department of Trade, Industry and Commerce
- National Tourism Development Office
- Food Technology Centre
It also maintains close working relationship with:
- Vanuatu Tourism Office
- Vanuatu Chamber of Commerce and Industry
- Vanuatu Investment Promotion Authority
- Vanuatu Commodities Marketing Board
Objectives
The objective of the Ministry is to ensure that the policies of the government of the day are implemented to achieve increased socio-economic advancement of the people of this country through increased investment and trade.This will be achieved through the following programmes:
Programme 1: Strengthen planning and implementation (within and between Ministries and the privatesector)
Programme 2: Promotion of Foreign Investment
Programme 3: Tourism promotion and development
Programme 4: Promote and facilitate the establishment of processing and manufacturing industries with a special focus on agro-processing
Programme 5: Trade promotion and facilitation
These programmes will be implemented to achieve the above objective and to address three gaps in the economy:
(a)Savings gap – the lack of investment funds from domestic savings
(b)Imbalance of trade – the excess of imports over exports
(c)Fiscal gap – the gap between recurrent revenue and expenditure