Vanuatu Foreign Investment Board

The Vanuatu Foreign Investment Board (VFIB), also Vanuatu Foreign Investment Promotion Board , is an investment organization based in Vanuatu. It was established in 1998 to "promote foreign investment by simplifying the approvals process." By the end of 1999 the board had a projected 13 million vatu in investments into Vanuatu lined up, roughly $100 million.The Vanuatu Foreign Policy and Government Guide describes its function as follows: "In determining an application for a foreign investment approval certificate, the Vanuatu Foreign Investment Promotion Board assesses whether the proposal is for a reserved or prohibited activity. If the investment proposed is acceptable in this regard, the proposal is further assessed for economic feasibility, whether the applicants are fit and proper persons and whether the financial resources for the venture are adrquate. The Board will make its decision within 7 working days of the receipt of a completed application."