Trade, Tourism, Commerce and Industry

The Ministry of Trade, Tourism, Industry and Commerce co-ordinates the formulation and implementation of government’s policy for the development of tourism, industry and commerce through promoting and facilitating increased investment and trade by local and foreign investors. Government policy on investment and trade is to:

 

Improve economic diversification and domestic value added through enhancing the productivity, competitiveness and the capacity of manufacturing sector to move up the value chain.

Enhance linkages and spill over’s among economic sectors.

Create enabling environment for the private sector as the main engine for economic growth and enhance it productivity, capacity utilization and trade capacity.

Promote tourism development.

Contribute to the improvement of the merchandise trade balance and balance of payments through enhancing Vanuatu’s exports, based on the country’s comparative advantage.

The Ministry coordinates the functions performed by:

–        Department of Trade, Commerce and Industry
–        Department of Tourism
–        Food Technology Centre
–         Vanuatu Government Office of the Registrar of Cooperatives &
Business Development Services

It also maintains close working relationship with:

–        Department of Tourism Vanuatu
–        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 programs:

Program 1:
Strengthen planning and implementation (within and between Ministries and the private sector)

Program 2:
Promotion of Foreign Investment

Program 3:
Tourism promotion and development

Program 4:
Promote and facilitate the establishment of processing and manufacturing industries with a special focus on agro-processing

Program 5:
Trade promotion and facilitation

These programs 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