2010年-世界发展银行全球_Enterprise_Surveys___Vanuatu_Country_Profile_2009_15页_1mb

Vanuatu Country Profile 2009 Summary

Core Content Overview

This document provides a detailed analysis of the business environment in Vanuatu based on the World Bank's Enterprise Surveys. It covers various aspects including infrastructure, trade, regulations, taxes, business licensing, corruption, crime, informality, finance, innovation, and workforce characteristics. The data is benchmarked against the East Asia & Pacific region and the lower middle income group, offering a comparative perspective on Vanuatu's economic conditions.

Key Business Environment Indicators

Corruption

• Incidence of Graft Index: 8.4 (Vanuatu) vs. 19.1 (East Asia & Pacific) vs. 13.7 (Lower middle income)
• Gifts to Tax Inspectors: 4.6% of firms in Vanuatu expected to give gifts, lower than the regional and income group averages.
• Gifts to Secure Government Contracts: 8.8% of firms in Vanuatu expected to give gifts, compared to 31.5% in the East Asia & Pacific and 26.3% in the Lower middle income group.
• Gifts for Construction Permits: 13.0% of firms in Vanuatu expected to give gifts, which is lower than the regional average of 31.8%.
• Gifts for Import Licenses: 4.3% of firms in Vanuatu expected to give gifts, lower than the regional average of 19.2%.
• Gifts for Operating Licenses: 6.5% of firms in Vanuatu expected to give gifts, lower than the regional average of 17.7%.

Regulations, Taxes, and Business Licensing

• Days to Obtain Import License: 13.2 days (Vanuatu) vs. 16.4 days (East Asia & Pacific) vs. 19.6 days (Lower middle income)
• Days to Obtain Construction-related Permit: 47.5 days (Vanuatu) vs. 46.1 days (East Asia & Pacific) vs. 64.8 days (Lower middle income)
• Days to Obtain Operating License: 17.8 days (Vanuatu) vs. 16.3 days (East Asia & Pacific) vs. 27.0 days (Lower middle income)
• Senior Management Time Spent on Government Regulation: 7.9% (Vanuatu) vs. 7.3% (East Asia & Pacific) vs. 8.0% (Lower middle income)
• Average Number of Tax Meetings: 1.8 (Vanuatu) vs. 2.3 (East Asia & Pacific) vs. 2.3 (Lower middle income)
• Legal Forms:
  • Open Shareholding Company: 1.5% (Vanuatu) vs. 8.2% (East Asia & Pacific) vs. 6.6% (Lower middle income)
  • Closed Shareholding Company: 12.8% (Vanuatu) vs. 26.1% (East Asia & Pacific) vs. 41.5% (Lower middle income)
  • Sole Proprietorship: 67.2% (Vanuatu) vs. 44.6% (East Asia & Pacific) vs. 32.6% (Lower middle income)
  • Partnership: 9.4% (Vanuatu) vs. 6.8% (East Asia & Pacific) vs. 8.0% (Lower middle income)
  • Limited Partnership: 7.6% (Vanuatu) vs. 7.5% (East Asia & Pacific) vs. 3.5% (Lower middle income)
  • Other: 1.5% (Vanuatu) vs. 6.1% (East Asia & Pacific) vs. 4.9% (Lower middle income)

Average Firm

• Age: 15.6 years (Vanuatu) vs. 14.4 years (East Asia & Pacific) vs. 15.6 years (Lower middle income)
• Female Participation in Ownership: 51.4% (Vanuatu) vs. 54.3% (East Asia & Pacific) vs. 35.2% (Lower middle income)
• Ownership Composition:
  • Private Domestic: 69.2% (Vanuatu) vs. 84.5% (East Asia & Pacific) vs. 86.5% (Lower middle income)
  • Private Foreign: 30.3% (Vanuatu) vs. 12.7% (East Asia & Pacific) vs. 10.0% (Lower middle income)
  • Government/State: 0.0% (Vanuatu) vs. 1.9% (East Asia & Pacific) vs. 1.2% (Lower middle income)
  • Other: 0.4% (Vanuatu) vs. 0.9% (East Asia & Pacific) vs. 2.3% (Lower middle income)

Finance

• Internal Finance for Investment: 59.8% (Vanuatu) vs. 63.6% (East Asia & Pacific) vs. 68.1% (Lower middle income)
• Bank Finance for Investment: 27.1% (Vanuatu) vs. 19.6% (East Asia & Pacific) vs. 17.0% (Lower middle income)
• Trade Credit for Investment: 0.6% (Vanuatu) vs. 2.8% (East Asia & Pacific) vs. 3.9% (Lower middle income)
• Equity, Sale of Stock for Investment: 11.8% (Vanuatu) vs. 5.7% (East Asia & Pacific) vs. 4.9% (Lower middle income)
• Other Financing for Investment: 0.7% (Vanuatu) vs. 8.4% (East Asia & Pacific) vs. 6.2% (Lower middle income)
• External Working Capital Financing: 26.9% (Vanuatu) vs. 33.4% (East Asia & Pacific) vs. 31.0% (Lower middle income)
• Collateral Value for Loans (% of Loan Amount): 191.3% (Vanuatu) vs. 171.0% (East Asia & Pacific) vs. 142.0% (Lower middle income)
• Firms with Bank Loans/Line of Credit: 45.8% (Vanuatu) vs. 40.4% (East Asia & Pacific) vs. 33.9% (Lower middle income)
• Firms with Checking or Savings Accounts: 96.0% (Vanuatu) vs. 89.6% (East Asia & Pacific) vs. 87.3% (Lower middle income)

Main Points and Findings

• Corruption: While Vanuatu has a relatively low incidence of corruption compared to the East Asia & Pacific region, it still faces challenges, particularly with bribes for construction permits and government contracts.
• Regulatory Environment: The process of obtaining permits and licenses is time-consuming and costly, with delays in Vanuatu being higher than regional averages in some cases.
• Business Licensing: Vanuatu has a higher percentage of sole proprietorships compared to the East Asia & Pacific and lower middle income groups, indicating a less diversified business structure.
• Infrastructure: Vanuatu faces moderate infrastructure challenges, with power outages and water shortages affecting firm operations. Delays in obtaining infrastructure services are more pronounced than in the East Asia & Pacific region.
• Trade: Vanuatu has a high percentage of firms using foreign inputs, but the percentage of exporter firms is relatively low. The time to clear customs for imports is comparable to the regional average.
• Crime and Informality: Firms in Vanuatu perceive the court system as fair, but they still incur significant security costs. The percentage of firms that are formally registered is relatively high, indicating a moderate level of informality.
• Innovation and Workforce: Vanuatu firms have limited use of international quality certifications and external financial audits. Email usage is high, suggesting some level of digital engagement. The workforce is predominantly composed of permanent, full-time workers, with a notable presence of female workers in full-time employment.

Key Information and Implications

• Business Environment: Vanuatu's business environment is constrained by corruption, inefficient regulations, and infrastructure deficiencies, which affect firm productivity and performance.
• Firm Characteristics: The average firm in Vanuatu is relatively young and predominantly a sole proprietorship, which may reflect a less developed formal sector.
• Financial Access: Firms in Vanuatu rely heavily on internal finance and have limited access to external financing, including bank loans and trade credit.
• Workforce and Innovation: There is a low level of innovation and international quality certification, but a high level of email usage indicates some digital integration in business operations.
• Comparative Performance: Vanuatu performs better than the East Asia & Pacific region in some areas, such as female participation in ownership, but lags in others, such as the use of external financial audits and the number of permanent workers in large firms.

Conclusion

Vanuatu's business environment, as reflected in the Enterprise Surveys, is marked by moderate challenges in corruption and regulatory processes, coupled with infrastructure issues. The country's formal private sector is dominated by sole proprietorships, and financial access is limited. While there is some level of digital engagement, innovation and international standards are underdeveloped. These findings suggest that improving the business environment through better governance, infrastructure development, and financial market efficiency could enhance firm productivity and economic growth in Vanuatu.