Vanuatu launches its CIIP-CNO Future Fund, linking citizenship by investment with sustainable development in the coconut oil sector. The fund will drive Vanuatu’s transition to renewable energy, create jobs for locals, and reduce greenhouse gas emissions.

Port Vila, Vanuatu – June 10, 2024 —

The Republic of Vanuatu unveils the Capital Investment Immigration Plan (CIIP) – Coconut Oil (CNO) Future Fund. This new program combines citizenship by investment with sustainable development in the coconut oil sector, offering investors a unique opportunity to support Vanuatu’s transition to renewable energy and contribute to the country’s sustainable growth.

The CNO Future Fund, managed by Vanuatu Investment Marketing Bureau (VIMB), will direct investments into various value-adding initiatives across the coconut oil industry. These initiatives include plantation automation, centralized drying infrastructure, transport infrastructure, milling, and whole nut utilization.

The fund will also invest in related sectors such as property development for plantations, milling infrastructure, and the supply chain for coconut production and transport. Manufacturing investments will focus on biofuel production, niche market products derived from coconuts, and extracting value from byproducts and waste. Meanwhile, specific investment initiatives include automated nut processing, green copra drying facilities, coconut oil mills, land and maritime supply chain infrastructure, a biofuel refinery, and coconut plantations.

Under Vanuatu’s Low Emissions Development Strategy (LEDS) for 2050, the coconut oil industry is set to substantially grow to substitute coconut oil for diesel in electricity generation. This transition is essential for achieving the targets outlined in Vanuatu’s National Energy Road Map (NERM) and Nationally Determined Contributions (NDCs) under the Paris Agreement. Substituting diesel with coconut oil is a key component of Vanuatu’s climate change mitigation commitments to the United Nations Framework Convention on Climate Change (UNFCCC).

” The CNO Future Fund is a significant advancement in aligning our citizenship by investment program with our nation’s sustainable development goals, ” said Daniel Agius, chief operating officer of VIMB. Agius also noted that investing in the coconut oil sector’s growth will create economic opportunities for Vanuatu’s communities and help climate change efforts.

The fund is expected to create thousands of jobs in the coconut oil sector by 2030, with a projected contribution of $50 million to Vanuatu’s GDP. The increased production of coconut oil is estimated to reduce Vanuatu’s diesel imports by 30% by 2030, significantly reducing greenhouse gas emissions.

The CNO Future Fund investors can gain Vanuatu citizenship while directly contributing to the country’s sustainable development and climate action goals. The minimum investment required is $165,000 for a single applicant, with additional fees for family members. Successful applicants will receive an emerald green Vanuatu passport, which offers visa-free or visa-on-arrival access to over 100 countries.

For more information about the CIIP-CNO Future Fund and how to apply, please visit the VIMB website at https://vimb.vu.