Deputy Prime Minister and Minister of Finance Johnny Koanapo has urged Ifira Trustees Limited (ITL) to move beyond its traditional business activities and venture into new investment horizons, as the government seeks to deepen public-private partnerships to strengthen the national economy.
He made the remarks in mid-December while receiving a government dividend from Ifira Ports Development Services Ltd (IPDSL), speaking in the presence of ITL Chairman Pa’au Nimanu Teriki Mantoi Kalsakau III, Prime Minister Jotham Napat, ITL executive directors, board members, and shareholders.
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PDSL operates as a key stevedoring and port services company at Lapetasi Wharf in Port Vila, providing cargo handling, container operations, and vessel loading and unloading services critical to Vanuatu’s trade and supply chain.
The company is structured as a public-private partnership, with the Vanuatu Government holding a 49 per cent stake and ITL owning the remaining 51 per cent. This arrangement allows both the state and customary landowners to benefit directly while ensuring professional and efficient management.
Minister Koanapo said IPDSL’s consistent profitability and regular dividend payments demonstrate the strength of this shared-ownership model, which serves as a benchmark for effective collaboration between government and landowners.
He encouraged ITL to build on this success by pursuing diversified investments across new economic sectors, including infrastructure, aviation, commercial hubs, and value-adding industries.
The Minister reaffirmed the government’s commitment to supporting such ventures through policy and investment facilitation, noting that Vanuatu’s economic recovery and future growth depend on moving beyond business as usual to create jobs, strengthen resilience, and expand the national economy.
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