Media365
Vanuatu is seeking closer ties with Hong Kong to support its ambitions in digital finance and economic diversification as the South Pacific island nation positions itself as a gateway for collaboration between the Global South and Asia.
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.
“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.”
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.
