VNPF to invest $7m in building embassy in Fiji

VNPF general manager Parmod Achary. Picture: VANUATU DAILY POST

The Vanuatu National Provident Fund (VNPF) will spend $7million on the construction of the Vanuatu High Commission building in Suva.

This, according to VNPF’s CEO and general manager Parmod Achary during an interview at the Ministry of Economy in Suva.

“The new Vanuatu High Commission will cost around 350 million vatu which is equivalent to $F7 million,” Mr Archary said.

“We will be doing the groundbreaking ceremony in a month or six weeks’ time.

“The construction works will begin next year, later in January.”

He said the Fijian Government had given a piece of land to the Vanuatu government for the construction of its high commission.

Meanwhile, Mr Achary said they had about $500 million invested with Unit Trust which was equivalent to 1 billion vatu.

He said they were planning to invest 10 per cent of the fund’s 24 billion vatu portfolio in Unit Trust of Fiji.

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