The former Chairman of the VFIPA Board, Mr Collins Gesa (Deputy Director Department of Customs and Inland Revenue) made the official handing over of the Agency's strategic documents to the new Chairman, DG Roy Mikey Joy yesterday during the new Board of Directors first meeting since the gazetting of the new Act.

Director Gesa informed the new Chair and members present on the achievements that have been made by the previous board and called for the urgency to recruit a Chief Executive Officer due to the post being vacant for almost 5 years.

Gesa also outlined key documents that had been achieved through the direction of the previous Board including the final Foreign Investment Act that went before Parliament and was gazetted, the National Investment Policy Statement, VFIPA's Corporate Plan 2020-2024 and updated and approved Audit Reports on the agency's finances.

The new Chairman when accepting the handover praised the former Board of Directors for the work accomplished and stated their excitement on working a new slate to further the agency's developments.

VFIPA's new board comes with an increased representation of the private sector having 3 representatives from the VCCI and two key private sector associations and will be focused on policy matters that should improve Vanuatu's doing business environment.

Key Government policies such as the Decentralisation Policy can be addressed with the representation of the Department of Local Authorities on the Board to ensure Foreign Direct Investment moves into other provinces as well.

The first Board Meeting of the newly established Board happened right after the hand over to commence the work that the new Board and the Management will be working together for this year and onward.