Rogue investors

Vanuatu aims to ensure investors do not abscond

RNZ reports Mr Antas made the assurance after the foreign owner of a restaurant and bar in Port Vila slipped out of the country without paying his local staff or meeting his commitments to his bank.

While the bank is now running the business to try and offset their losses.

It has prompted a recommendation for the government to consider increasing the bond foreign investors have to deposit with the Vanuatu Investment Promotion Authority.

Presently that is an amount of five million vatu, or $US46,737.