Public Private Partnership VCCI & Vanuatu Government, Submit Vanuatu Agribusiness Profile PIPSO & Other News

INTRODUCTION OF PUBLIC PRIVATE PARTNERSHIP BETWEEN VCCI AND VANUATU GOVERNMENT

VCCI position on the Final Report on the Case for Revenue Reform and Modernisation from the Vanuatu Revenue Review Committee is to introduce a public private partnership between VCCI and the Vanuatu Government under a VCCI and Vanuatu Government Memorandum of Understanding (MOU).

Under the identified public private partnership opportunity, a concrete outcome of the proposed VCCI and Vanuatu Government MOU would be the setup of a working group with the private sector, by the Ministry of Finance, with representatives from agriculture, tourism, finance, manufacturing, large and small commerce, construction, air transport, land transport, shipping, and public utilities sectors, to conduct further consultations on tax reform.

One of the main objectives of such initiative is to identify and assess the impact of the changes, including the ability for these changes to be protected from being undermined by corruption, and the risks of revenues shortfalls under these changes. Such initiative would lead to minimise the risks for the government budget projections based on income projections that could prove to be incorrect, as it occurred in the late ‘90s when the VAT was introduced.

If the Vanuatu economy is just starting to recover from an extended economic downturn, it is even more important for the Vanuatu Government to adopt a cautious and prudent approach in order not to cause a negative impact on the new spending on infrastructure development projects including ongoing and future projects.

Furthermore there is no 5 year economic plan from 2018 to 2022 outlined to support the income projections stating clearly what the economic priority actions would be each year over 5 years in 2018, 2019, 2020, 2021 and 2022, including forecasted projections of GDP over the next 5 years supporting the economic priority actions. Each year, which economic industry sectors are given the priority for development to strengthen the private sector development in order to boost economic growth in Vanuatu? How will the Vanuatu economy be managed? Under what economic policy?

The economic strategy for Vanuatu is the basis to generate income projections in the next 5 years. What is the Vanuatu Government 5-10-15 year growth plan? Do they have one?

The market needs to know the ‘what’, ‘where’ and ‘how’ Vanuatu Government will deliver the platform for investment, financial and job growth in the Vanuatu economy. Businesses currently need to understand what they are investing in and what the next 5-10 years will bring. Most businesses are capital intensive, this usually requires a minimum 10+ year investment outlook so again investors require confidence in a bankable central Government plan. Investors currently seem largely disillusioned, many are wondering how they can exit or if they can afford to (many sadly want to exit but financially cannot) and if they stay what sort of viable future will there be?

It is incumbent on the Vanuatu Government to give the private sector (investors’ and job creators) confidence that the Government is a competent and responsible administrator. The Government’s failure to engage and consult on the tax reform with the economic industry sectors in a constructive Working Group leads to a negative impact on investors’ confidence in Vanuatu and the Government.

Is the private sector the engine of growth for the country or is it not? In short how do we go from here to avoid the no confidence – no investment – no job creation… and no prosperity for Vanuatu?

 

SUBMIT YOUR VANUATU AGRIBUSINESS PROFILE IN PIPSO WEBSITE TO GET GREAT EXPOSURE

To get a regional positioning, exposure and visibility while promoting your business and products made in Vanuatu, you are invited to follow the few steps to submit your Vanuatu agribusiness profile by connecting to the Pacific Islands Private Sector Organisation (PIPSO) website http://www.pipso.org.fj/for-pacific-businesses/

You can create your own agribusiness profile in 5 minutes online. For more information, please connect to PIPSO website www.pipso.org.fj

 

LARGE COMMERCE COUNCILLOR VACANT POSITION IN VCCI COUNCIL

The Vanuatu Chamber of Commerce (VCCI) is looking for a large commerce business to represent the Large Commerce sector in the VCCI Council, as the Large Commerce Councillor.

If you are interested to submit your candidacy for the Large Commerce Councillor position and wish to receive more information on this vacant position, you can complete and sign a VCCI Councillor Candidacy Form and return it to the VCCI Reception by contacting VCCI Reception by phone 27543, mobile 7123967 or by email at [email protected] before Wednesday 9 August 2017.

 

Going for gold – being the best you can be!

A series of short practical articles on transforming our society through business.

Businesses, especially very small, small and medium sized businesses are the lifeblood of the Pacific. They provide for our needs, employ our people, energise our communities, help us fulfil our potential and provide a future for our young people.  Businesses have the power to transform our world one step at a time. Business leaders have a responsibility to use that power wisely, ethically and responsibly. During this short series of articles Chris Elphick looks at the transformational power of business.

Today the focus is on vision and mission – how inspirational is yours?

It has long been understood that businesses need a vision and mission but there is often lack of clarity about what it is and who it is for!

A vision statement provides strategic direction and describes what the owners want the company to achieve in the future – what impact is it going to make in the world.

A mission statement describes an organisation’s purpose and answers the questions “What business are we in?” and “What is our business for?”

A Vision is something you want to become, to achieve, it is a seductive image of an ideal future – whereas a Mission explains the purpose of the organisation – why it exists – it captures the organisation’s soul.

They should link closely together and some organisations will have just one statement that captures both.  If you have a set of business values then they should also relate closely.

Many organisations have statements of their vision, mission and values on the wall, often in a nicely designed plaque! I wonder why we do that and what is the real value of these statements.  To be meaningful vision, mission and values need to be in daily use and be in the hearts and minds of our teams.

A vision/ mission statement should be no more than one-sentence describing the clear and inspirational long-term desired change resulting from an organisation’s work.  The best visions are inspirational, clear, memorable, and concise.

Here are a few examples from the not-for-profit world:

Oxfam: A just world without poverty; Human Rights Campaign: Equality for everyone; National Multiple Sclerosis Society: A World Free of MS; Alzheimer’s Association: Our vision is a world without Alzheimer’s; Habitat for Humanity: A world where everyone has a decent place to live; Oceana seeks to make our oceans as rich, healthy and abundant as they once were.

Here are a few more from some well know international companies:

“Bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.” Nike

“We save people money so they can live better.” Walmart

“To Improve Every Life through Innovative Giving in Education, Community and the Environment.” 3M “To refresh the world…To inspire moments of optimism and happiness…To create value and make a difference.” Coca Cola

“To enable people and businesses throughout the world to realize their full potential.” Microsoft “To organise the world’s information and make it universally accessible and useful.” Google

It is important not to get too worried about the difference between vision, mission and values!  What is important is that to be an inspirational business we need to inspire people and of course we don’t do that by our words but by our actions.

Engage your staff in developing your vision and mission – make sure it is meaningful to them and that they believe it!

Engage your customers, suppliers and other stakeholders – is it meaningful and believable to them?

Keep it alive – discuss it at team meetings, use it to promote the business and to recruit staff, create vision related projects that are helpful to your staff and your local community.

Develop a reputation as a value-led business that cares about its staff, its customers, its community and its environment – this is good business sense and it makes a real difference to the world in which you operate. Recent research shows that businesses with relevant and inspirational visions attract the best talent and bring in more customers!

‘I believe in businesses where you engage in creative thinking, and where you form some of your deepest relationships. If it isn’t about the production of the human spirit we are in big trouble’ Anita Roddick, founder of The Body Shop.

Coming next – part three of our Going for Gold series – planning that works!! Chris Elphick is Director of Learn.fast Pacific, supporting the development of a range of businesses and organisations in Vanuatu, Fiji, Solomons and other Pacific countries.  He is an experienced business mentor and has years of experience of working with Small & Medium Enterprises.  Learnfast Pacific works in close association with business support organisations throughout the Pacific.

If you have a business issue for Chris to comment on please contact him at [email protected]