Vanuatu looks to Hong Kong to support digital finance plans, economic transformation
Advertisement
The country is entering a new era of economic stability with a renewed focus on infrastructure, digital transformation and international commercial engagement, according to Deputy Prime Minister Johnny Koanapo Rasou.
'We've gone through years of [political] instability, but now we have a government that's stable and serious,' he said in an interview with the Post in Hong Kong on Friday. 'We want to deepen our engagement, especially in digital finance. The goal is to create a well-regulated environment that allows responsible innovation, and Hong Kong is a role model in that space.'
He said the government was building airports, upgrading roads and investing in new townships. More importantly, it had passed legislation to pursue its ambitions, including the country's first public-private partnership law and land reforms allowing investors to lease state-owned properties for up to 99 years from 75, he added.
Deputy Prime Minister Johnny Koanapo Rasou says Vanuatu is ready to embrace more foreign investors. Photo: Edmond So
'I've come to Hong Kong to say Vanuatu is ready,' said Rasou, who is also the minister of finance and economic management. 'I feel it is the time to invite companies, investors from mainland China, Hong Kong, Singapore, across Asia, Europe and other places to come to Vanuatu and have meaningful commercial engagements.'
Advertisement
Vanuatu, a nation of about 330,000 people spread across an archipelago of 83 islands. To lay the digital groundwork, the government recently introduced the Virtual Assets Services Providers (VASP) Act, a legal framework aimed at regulating businesses involved in blockchain-based assets and stablecoins.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
17 minutes ago
- South China Morning Post
WAIC Shanghai: China reveals new great leap forward with 1,509 AI models
China is now home to 1,509 AI models, which accounted for more than 40 per cent of the world's total, according to data from the World Artificial Intelligence Conference (WAIC) in Shanghai , showing the country's great leap forward in the fast-growing technology. That number accounted for more than 40 per cent of the 3,755 total AI models known worldwide, according to a Xinhua report on Monday, citing WAIC data. 'We see AI enabling scalable and cost-efficient production of multimodal content across text, images, audio and video,' said UBS Securities analyst Wei Xiong, who pointed out that Chinese models were 'showing early success in AI video generation'. The number of AI models reflected the country's big strides in transforming into an AI powerhouse through various private and publicly backed open-source development initiatives, narrowing the gap with the US. The open-source approach gives public access to a programme's source code, allowing third-party software developers to modify or share its design, fix broken links or scale up its capabilities.
South China Morning Post
33 minutes ago
- South China Morning Post
Hong Kong lawmakers finish scrutinising same-sex couples bill clauses in 2 days
Hong Kong lawmakers have taken two days to complete a clause-by-clause examination of a bill to recognise certain rights for same-sex couples, despite strong opposition in the city's legislature. Legislators raised 33 questions during two bills committee meetings on Monday, with their concerns including criminal offences associated with the proposed registration regime for same-sex couples. Twenty-eight questions were raised when the bill was first discussed on Friday. The Registration of Same-sex Partnerships Bill is the government's answer to a 2023 ruling from the Court of Final Appeal that gave authorities two years to draw up laws setting out 'core rights' for same-sex couples, but did not outline what they might be. A source earlier told the Post that the government would apply to the court for an extension in fulfilling the ruling, as its deadline of October 27 was drawing near. Lawmaker Chan Yung said the bills committee that he chaired would report to the Legislative Council's House Committee to propose a date for resuming the second reading.
South China Morning Post
an hour ago
- South China Morning Post
China, US begin third round of trade talks in Swedish capital
Top economic officials from China and the United States have begun their third round of trade talks in Stockholm. Advertisement The Chinese and American delegations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – arrived at Rosenbad early Monday evening. The historic building also serves as the Swedish government headquarters and the office of the country's prime minister. Media from both countries – as well as Japan's Kyodo News, France's AFP and several Swedish outlets – began gathering in front of the building early Monday morning, where the Chinese and American flags had been raised. While the Chinese delegation arrived on Sunday afternoon, their American counterparts landed in the Swedish capital on Monday. Swedish authorities had blocked off the area surrounding the building for security reasons and swept the area for explosives, prompting questions about the commotion from passersby to the assembled police officers and journalists. Advertisement As with past rounds in Geneva and London, the negotiations are expected to run multiple days.
