Where We Want To Be

In the following few pages we present the broad direction that will be followed by the Commission in the short to medium term. Good planning and organization are essential to the successful operation of any organization. Here, we have set out the Vision, Mission, desired Key Outcomes of the Commission as well as our values and behavior, and our corporate objectives. Our challenge is to develop and implement the appropriate strategies to achieve these goals. We at the Commission know the benefits that a well managed and growing financial services sector can bring to Vanuatu and we are all committed to its implementation.

Message from the Chairman, Mr.Lennox Brian Vuti

VFSC Chairman

In the following few pages we present the broad direction that will be followed by the Commission in the short to medium term.

Good planning and organization are essential to the successful operation of any organization. Here, we have set out the Vision, Mission, desired Key Outcomes of the Commission as well as our values and behavior, and our corporate objectives. Our challenge is to develop and implement the appropriate strategies to achieve these goals.

We at the Commission know the benefits that a well managed and growing financial services sector can bring to Vanuatu and we are all committed to its implementation.

To make Vanuatu’s Finance Centre internationally recognized as well regulated and a preferred jurisdiction in which to do business.

To effectively and efficiently regulate and supervise Vanuatu’s Finance industry in accordance with government legislation and international standards so that Vanuatu is recognized as having an internationally reputable and commercially attractive Finance Centre.

An internationally reputable and commercially attractive Finance Centre Vanuatu’s Finance Centre is recognized internationally as being well regulated by us and as being commercially attractive and a preferred jurisdiction in which to do business.

A legislative framework that encourages best practice and innovation Vanuatu’s legislation for regulating the Finance Sector reflects international best practice and encourages the introduction of modern financing arrangements.

A constructive working relationship between the Commission and the Finance Centre.

We have a constructive working relationship with the Finance Centre that is reflected in the way we consult the Centre on necessary changes and the way we fairly and efficiently regulate the Centre. A fair and reasonable contribution to government revenues The Finance Centre is recognized as making a fair and reasonable contribution to government revenues through the fees and charges that we collect.

Our corporate objectives are:

    • To work as a team to improve our outcomes
      This involves recognizing and valuing the different roles of everyone in the Commission and working together to achieve the best possible results.
    • To provide a high level of customer service
      This involves meeting our clients’ needs and being fair to all customers.
    • To develop and make the best use of our staff
      We want to have qualified and skilled staff, with the appropriate expertise/technical knowledge and to develop our staff where there are gaps in our skills. We want to have adequate levels of staffing (human resources) in each of our main functional areas.
    • To quickly improve the legislation governing the scope, regulation and supervision of the finance centre
      Our aim is to have good, complete and up-to-date legislation and for our administrative jurisdiction to be recognized for this.
    • To make the best use of technology to improve services
      We aim to have on-line operations and to adopt technology that will facilitate and encourage on-line servicing of clients.
    • To improve the level of industry compliance
      We aim to implement strategies that will ensure a high level of industry compliance.
    • To improve promotion internationally of the finance centre
      We will put in place mechanisms for effective promotion of the finance centre at an international level.