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Vanuatu is setting up a five-year plan and regulatory framework for its E-Nation project

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Vanuatu is setting up a five-year plan and regulatory framework for its E-Nation project

PR Newswire

SHANGHAI, Aug. 20, 2018 /PRNewswire/ -- Vanuatu is setting up a five-year plan and regulatory framework for its E-Nation project by commissioning the Vanuatu National Digital Currency Research Institute. This aims to help its government to have strategic planning, regulatory system and market access mechanism ready for digital economy.  

The Vanuatu National Digital Currency Research Institute was officially established at the Vanuatu National Convention Center on March 15, 2018. The Deputy Prime Minister and the Minister of Finance attended the unveiling ceremony.

Joe Natuman, Chairman of the Vanuaaku Party of the Republic of Vanuatu and the Honorary Chairman of Vanuatu National Digital Currency Research Institute, said, "Vanuatu's 2016-2030 National Sustainable Development Plan points out that stability, sustainability and prosperity will be the country's big vision. Vanuatu's E-Nation project will improve the country's financial infrastructure and e-government system. To provide important financing channels to other infrastructure projects in Vanuatu, this project also aims to provide more local jobs in the high-tech industry, so as to speed up the inflows of global elites to Vanuatu. Great significance has been attached to the E-Nation project to promote local economic development."

"Vanuatu National Digital Currency Research Institute is going to research for developmental solutions as well as building up regulatory frameworks, in order to find a balance between innovative development and risk control. This Institute therefore creates new opportunities for fintech companies who come with investments. We hope it will soon thrive beyond our expectation," said Maki Simelum, former Finance Minister of Vanuatu and Chairman of the National Institute of Digital Currency.

Vanuatu National Digital Currency Research Institute will focus in the fields of science and technology, finance, talent training, and blockchain application. This project will help Vanuatu to build up an advanced authority based on digital technology, whereby the nation seeks new solutions to push up national GDP, and last but not least, to upgrade its national facilities and public services.

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SOURCE Vanuatu National Digital Currency Research Institute

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