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Things to Know About the Business for Takeover Kiribati
Kiribati is Sovereign Island in Micronesia in the Central Pacific Ocean. Kiribati spreads roughly 1,800 miles eastward from the 16 Gilbert Islands to the Line Islands with only 20 of the 33 islands inhabited. The capital and political centers are at Ambo, Bairiki, and Betio, with each islet of South Tarawa in the northern Gilberts.
Kiribati is ethnically inhabited by Micronesians, although Fijians, Tongan, and Samoans represent a homogenous population. The official language is English and the Oceanic language of Gilbertese. The population is estimated to be approximately 117,746 inhabitants.
Over time, Kiribati has developed several strong regional and international relations and attracted considerable external aid both bilaterally and multilaterally. Despite ranked as one of the poorest and remotest microstates in the pacific, its political stability and fiscal prudence makes doing business in Kiribati sound and promising. Kiribati depends on its sovereign wealth fund termed as Revenue Equalization Reserve Fund (RERF) which relates to phosphate mining and prosperous investment overseas making its economy precarious. The fact that the public sector dominates the economy accounting for over half of GDP, much of the income is volatile, making long-term planning by the government difficult.
Doing business in Kiribati is affected by several hurdles as there is minimal foreign direct investment, poorly developed private sector, unemployment, and over-reliance on imports. Kiribati remains at a high risk to international economic instability due to several economic issues that affect its growth.
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