COVID-19 impact

Vanuatu agriculture to receive VT1 billion as business feels COVID-19 impact

This was confirmed by the Economic Stabilisation Package team leader, Rex Willie.

He said this money will be removed from the Employment Stabilisation Package.

“If we have problems with imports of goods or jobs losses, we have agriculture to substitute,” said Willie.

At the recent opening of the Agriculture Show in Port Vila the Prime Minister announced 21% of next year’s national budget will be put into Ministry of Agriculture.

As Vanuatu government redirects it focus, other businesses in Vanuatu and around the region continue to suffer.

New areas for Pacific investment identified in wake of COVID-19

The acting Trade Commissioner, Glynis Miller, said investment was a key driver of sustainable economic growth and the Pacific needed foreign direct investment.

The organisation said this was more important than ever given the Pacific's reliance on tourism and the way the sector had been decimated by the coronavirus pandemic.

Chief Investment Officer, Manuel Valdez, said Pacific Trade Invest New Zealand held a rich database of information on what he called "bankable investment projects" across several industries.

Uncertainty the key challenge facing Pacific businesses

The results have been published in the fourth  PTI Pacific Business Monitor Report.  The PTI Pacific Business Monitor is a regular survey that tracks the sentiment of businesses from across the Pacific region.

Air Vanuatu announces way forward as airline feels impact of global coronavirus pandemic

At a meeting, Wednesday, the Board acknowledged the efforts made by all the employees in Vanuatu, Australia and New Zealand, from the flight crew and engineers to the front-line airport and sales personnel for their commitments during these challenging times.

Chairman Sam Firi described the strategy as “New Era, New Look,”.

COVID-19 and its likely impact on the tuna industry in the Pacific Islands

Approximately 60 percent of the raw material for the global tuna canning market comes from the WCPO. There are two reasons why COVID-19’s impact on the tuna industry should be monitored.

First, shelf-stable foods, such as canned tuna, have taken on a new level of significance for food security. Second, Pacific island countries are dependent on revenues from the licensing of fishing vessels.