ADB supports Vanuatu SOE changes Posted at 02:49 on 01 November, 2013 UTC The Asian Development Bank says the Vanuatu government’s new state-owned enterprises policy will place the agencies on a fully commercial and transparent footing. The Bank says the SOEs place a heavy burden on Vanuatu’s economy. It says they absorb large amounts of scarce capital, provide poor returns, divert government resources away from vital social investments in health and education, and can drive up the costs of doing business. The ADB has been supporting efforts to reform the sector. An official, Andrea Iffland, says the new policy and subsequent legislation will enable the SOEs to make a positive contribution to inclusive economic growth. News Content © Radio New Zealand International PO Box 123, Wellington, New Zealand
Posted on: Fri, 01 Nov 2013 03:19:11 +0000
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