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Get to Know About Vanuatu
Vanuatu, which is situated in the South Pacific Ocean, is a nation comprising of several islands. The country’s economy is developing well, and the sectors that are dominant here are the financial services and agriculture.
The agriculture sector has been growing and employs more than half of its inhabitants. Some of its products include fruits like pineapples, bananas, watermelons, and vegetables like radishes and carrots, to name a few. Tourism has been flourishing in recent years here with scuba diving being one of the main attractions among the tourists. Television reality shows have also been shot in the scenic locales of Vanuatu.
The tax system in Vanuatu is very favorable for investing companies here, and that is a significant attraction for doing business in Vanuatu. The costs of labor are also low here as compared to other nations. Banking services are also well developed here. The policies of the Vanuatu government favor the growth of foreign direct investment. There is also the benefit of easy availability of skilled and unskilled workforce.
For investors in Vanuatu, danger from natural calamities like earthquakes and tsunamis poses a threat. The spending power of consumers in Vanuatu is low and is a challenge for investors. There is also the disadvantage of a lack of natural resources here.