Industrial Development Act No. 19 of 2014.

The Industrial Development Act 2014 of Vanuatu aims to support the growth of sustainable and value added industries in the country by implementing the National Industrial Policy. The Act covers various aspects, including interpretation, consultation with government bodies and the private sector, financial provisions, powers of the Department, and miscellaneous provisions. One key aspect is the establishment of the Industrial Development Fund, which is to be used for industrial policy research, project monitoring, and financing Industrial Development Programs. The Act also allows for the imposition of export levies on primary products to encourage value addition within the domestic industry. The Act outlines the process for obtaining and renewing industrial permits for operating industrial and internationally traded services undertakings in Vanuatu. It also includes provisions for the suspension and cancellation of permits in case of non-compliance with terms and conditions. Additionally, the Act mandates the Department to review the National Industrial Policy every five years and make necessary proposals for changes. It also requires holders of industrial permits to provide annual reports to the Department.