The Director of External Trade Sumbe Antas says a mechanism is being worked out to make sure foreign investors do not leave the country

, without first fulfilling their obligations particularly to their staff and their banks.

He made the revelations during PACER Plus consultations at Warwick Le Lagon Resort this week, after a female representative of non-state actors told the session how an investor opened a street front bar and restaurant in town then slipped out of the country without paying his staff or completing his financial obligation with his bank.

The outcome was that the bank is now running the business.

However to ensure the country attracts money bags to the country and not empty pockets, the woman suggested the VIPA bond should be increased for all incoming investors from the current Vt5 million to prompt them to think twice before leaving.

The Director of Trade said a system is being worked out to also have the names of all investors logged on at the airport computers to verify the names of all investors to make sure they are clean to travel out.

He said it is hoped such a system will prevent any more investors from leaving without fulfilling their obligations.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.