Region: East Asia and Pacific
Topic: Legal Framework
Sustaining Growth: A Private Sector Assessment for Vanuatu is the eleventh in a series of private sector assessments undertaken by the Pacific Department for its member countries over the past 6 years. This report updates the analysis of the earlier private sector assessment for Vanuatu published by ADB in 2004 and tracks the evolution through time of the business environment in the country.
This report contains a number of suggestions for reform. In the medium term, implementing them will raise the sustainable growth rate. To address the immediate binding constraints, the report recommends implementing the following reforms as priorities:
While the global financial crisis brings short- term uncertainty, these measures should increase Vanuatu’s ability to weather the storm and add to the future prosperity of the country. Significant progress has been made over the past few years in implementing measures that enhance growth prospects. The commitment of the government to reform continues, and if existing measures and future plans are implemented, Vanuatu will continue to be one of the fastest growing economies in the region.
Image by Pixabay
Updated: June 28, 2022