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offer Vanuatu real estate investment information for Port-Vila,
Forari, Lugarville, Ipota and the Islands of Efate, Epi, Malakula,
Maewo, Pentecote, Ambrym, Erromango and Tanna. Scroll down for
more information about the Vanuatu.
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About
Vanuatu
Vanuatu
Population: 202,609 (July 2004 est.)
Languages: English, French, pidgin (known as Bislama or Bichelama),
plus more than 100 local languages
Capital: Port-Vila (Efate)
Government Type: Parliamentary republic.
Independence Day: 30 July 1980 (from France and UK)
Legal System: Unified system being created from former dual
French and British systems.
Currency: vatu (VUV)
Executive
Branch:
Chief
of State: President Kalkot Matas KELEKELE (since 16 August 2004).
Head of Government: Prime Minister Serge VOHOR (since 29 July
2004); Deputy Prime Minister Ham LINI (since 18 August 2004).
American
Embassy: None
Mailing Address: None
Telephone: None
General Overview: The British and French, who settled the New
Hebrides in the 19th century, agreed in 1906 to an Anglo-French
Condominium, which administered the islands until independence
in 1980.
Economic
Overview: This South Pacific island economy is based primarily
on small-scale agriculture, which provides a living for 65%
of the population. Fishing, offshore financial services, and
tourism, with about 50,000 visitors in 1997, are other mainstays
of the economy. Mineral deposits are negligible; the country
has no known petroleum deposits. A small light industry sector
caters to the local market. Tax revenues come mainly from import
duties. Economic development is hindered by dependence on relatively
few commodity exports, vulnerability to natural disasters, and
long distances from main markets and between constituent islands.
A severe earthquake in November 1999 followed by a tsunami,
caused extensive damage to the northern island of Pentecote
and left thousands homeless. Another powerful earthquake in
January 2002 caused extensive damage in the capital, Port-Vila,
and surrounding areas, and also was followed by a tsunami. GDP
growth rose less than 3% on average in the 1990s. In response
to foreign concerns, the government has promised to tighten
regulation of its offshore financial center. In mid-2002 the
government stepped up efforts to boost tourism. Agriculture,
especially livestock farming, is a second target for growth.
Australia and New Zealand are the main suppliers of tourists
and foreign aid. Growth expanded moderately in 2003.
International
Disputes: Matthew and Hunter Islands east of New Caledonia claimed
by Vanuatu and France.
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