Vanuatu under the Yen
p. 30 · Read in the full issue
VANUATU generally and Port Vila in particular are experiencing a substantial increase in the level of Japanese own ership, reports the newsletter issued by Pacific International Trust Co Ltd (PIT CO). It says already the largest hotel in Vanuatu is owned by the Tokyu Cor
poration and the Japanese have purch
ased several smaller hotels.
In addition, a substantial portion of the high end of the residential housing
market has been bought by Japanese in vestors who aie leasing the homes to ex patriate workers. There has been some feeling of uncertainty within government circles as to the future impact of this major change and there have been sug gestions aimed at slowing down the rate of this investment. PITCO says the busi ness community considers the fresh in vestment as a welcome benefit to the country. ' □