VFIPA undertakes Aftercare Service to selected strategic investors
Aftercare and Advocacy is an activity that the Vanuatu Foreign Investment Promotion Agency (VFIPA) will actively be focusing on in 2024 and beyond. This shift in focus demonstrates VFIPA’s response to the prevailing global uncertainty coupled with domestic crisis that are affecting investors confidence and slowing down or delaying foreign direct investment (FDI) plans since 2019.
Therefore, proactive engagement in Aftercare and Advocacy for retention and expansion of through a coordinated approach with key partner agencies will be a focused activity for the Agency in 2024.
PDI Lelepa Ltd, a registered local company owned by the Royal Caribbean’s 100% owned UK subsidiary, RCL Cruises Ltd was registered by VFIPA in 2019. Since then, the company has not been fully implemented until recently, mainly due to the covid-19 pandemic and other global crisis.
VFIPA’s visit was to learn if the company is still to progress its proposal and if there is anything the Agency can do to assist. Mr. Jaime A Lopez Diaz confirms Lelepa remains critical for the Royal Caribbean tourism destination for the Pacific, therefore the company remains committed to its proposal. VFIPA was happy to note that the company will progress development in 2024 through a phasing approach citing the redesign of the project that needs to be presented to the Government and completing of an environment impact assessment study as priority. A good understanding has been reached during the discussion and VFIPA stands ready to assist whenever as necessary.
PDI Lelepa LTD proposes to develop a day resort on the island of Lelepa for the Royal Caribbean’s cruise guests that tak3 a South Pacific destination cruise. This proposal worth of nearly VT0.5 million will offer accommodation and Food Services including entertainments that of world standard and over 100 local employment opportunities.
PDI Lelepa Ltd is one investment that is of strategic importance to VFIPA, the tourism industry and Vanuatu. On 5th December, 2023, VFIPA arranged and met with the Companies representatives, Jaime A Lopez Diaz, Director for Business Development and Land Acquisition, Mr. Jason Mayes and Mr. Lindsay, SFAI Barrett & Partners, Service Provider for PDI company.
