Doing business in Tuvalu
Tuvalu is an isolated small island state of only 11 000 people on 27 km of land comprising nine islands, made up of four reef islands and five true atolls in the South Pacific, halfway between Hawaii and Australia. The country has on open marginally developed economy with a per capita income of A$ 3,754 which puts it in the group of upper middle income countries.
The economic base is narrow and fragile, being at the very low end of the fisheries and other sector value chains, and relying mostly on revenue from fishing license fees and development assistance.
Tuvalu’s wealth is concentrated in its fairly large exclusive economic zone of over 900, 000 sq. km teeming with all kinds of marine resources. The priority economic sectors are Agriculture, Fisheries, Tourism and Migrant Labor. Now that Tuvalu’s maritime boundaries have been set, a long term plan has been put in place for the orderly exploration and development of mineral deposits and other renewable resources within its territorial waters.
The government of Tuvalu is actively seeking investors and partners to develop and diversify the economy with a focus initially on ecotourism and the processing of organic agricultural and fishery products for niche markets in the Asia-Pacific region. It is currently reviewing its investment framework with a view to creating a more business-friendly and secure investment climate for investors.
Tuvalu is a party the Pacific Agreement on Closer Economic Relations (PACER) Plus. This represents a total market of over A$2 trillion and a population of about 40 million. This archipelago with its opportunities to investors and a once-in-a-lifetime experience for the adventurous tourist.
Welcome. Tuvalu is truly open for business!