Foreign Direct Investment in Kiribati – A Brief Guide to Chinese Investors基里巴斯投资指南

⬆ Typical beauty of Kiribati islands – birds singing and flying over white beaches with a backdrop of greenish lagoon and clear blue sky. The I-Kiribati are so blessed living in Kiribati!

 
Kiribati-China Friendship in Brief

Kiribati (pronounced kiribas) is a unique Pacific Island country. It’s the only country in the Pacific with two different time zones and the first to welcome and see a sunrise of all New Years. Its unique people (I-Kiribati) of over 119,000 live on low-lying atolls (land area of 811 square kilometers) that formed the three main groups of islands known as the Gilbert Group, Phoenix Group and the Line Group that are proudly founded in an ocean area of 3.5 million square kilometers in the central Pacific Ocean.

Kiribati initially established its diplomatic relations with the People’s Republic of China in 1980, one year after its independence from the United Kingdom. This significant friendship was severed in 2003 by the previous administration but was resumed in September 2019 under the current leadership of His Excellency President Taneti Maamau, three years after being in Office since 2016.

Since resumption of diplomatic relations, Kiribati and China have deepened their friendship and strengthened partnerships to achieve mutual benefits for the peoples of the two countries. These have been underscored by the recent first visit of State Councilor and Foreign Minister Want Yi to Kiribati, in late May this year, where a warmth welcome and constructive itamaomao (goal-oriented friendly dialogue) and signing of MoUs were the success outcomes. Additionally, the establishment of the Kiribati Embassy in Beijing, China (KEC) this year signals Kiribati’s commitment to strengthening the itamamao and inanoi (mutual agreement) to elevate the friendship between the two countries and peoples to new constructive levels.

In its embryonic stage and among the many visions and objectives of the Kiribati Embassy, economic diplomacy and cooperation is critically important. Investment, trade, tourism, including other economic activities are crucial components for the Embassy’s work to explore, promote and execute in and with the support and grace of the Chinese central and local governments, institutions and the private sector.

   Kiribati Vision for 20 Years & Kiribati Development Plan 2020-2023

In setting the context for the promotion, facilitation and coordination of foreign direct investment (FDI) in Kiribati, it is important for investors to have a brief understanding of the Kiribati’s long-term vision for the next 20 years (from 2016, the year the current government took the political leadership) and the medium-term implementation plan to realize those long-term goals.

It is important to know that the Maamau Administration is the first in the history of Kiribati political leadership to develop a long-term plan known as the KV20 or the Kiribati Vision for 20 Years. The KV20, launched in 2016, is an ambitious long term development plan that aims for Kiribati to become a wealthier, healthier and a peaceful nation, the three overarching goals of the KV20.

The KV20, as an economic-driven long-term plan, realizes the importance of foreign direct investment (FDI) as a ‘good ingredient for private sector development’, with the aim to reach over 100 impactful and sustainable foreign investment operations by 2036.

The Kiribati Development Plan 2020-2023 is a medium-term implementation plan for the KV20. The KDP underscores the FDI as an ‘essential pillar in increasing private sector development and fostering economic growth in Kiribati’. To this end, the KDP calls on all relevant Government of Kiribati’s (GoK) Ministries, the Private Sector and stakeholders to effectively implement the national investment policy framework and to create a conducive and enabling environment for business development.

Kiribati FDI Objectives, Regulations & Administration

In progressing efforts to realize the promotion of FDI as set out in the KV20, the Government of Kiribati in 2018, developed the National Investment Policy Framework (NIPF) 2018-2028 and established the FDI regulations through the Foreign Investment Act 2018 (FIA18). This demonstrates the GoK’s commitment to improving and strengthening the FDI sector to attract foreign investors.

The GoK envisages the FDI to enhance the economic development objectives of Kiribati including with the industrialized society with adequate direct investment to encourage the creation of employment, technology transfer, capacity building, value addition to natural resources and foreign currency generation; reduce unemployment, poverty and economic inequality; and accelerates the growth and diversification of the Kiribati economy.

Under the law, the FDI is administered by the Investment Promotion Division (IPD) of the Ministry of Tourism, Commerce, Industry and Cooperatives (MTCIC). All interested foreign investors are to apply to the Registrar of the Foreign Investment to register their interest to invest in Kiribati. The Registrar will undertake due diligence to assess the applications but under strict confidential procedures. Investors with over A$250,000 worth of investment will have their applications considered by Cabinet after the due diligence review by the Registrar.

Investors with successful applications will be issued with the Foreign Investment Certificate (FIC) by the Registrar. This certificate legally authorizes investors to commence their businesses in the sector and within the scope of what they have applied for. It should be understood that the FDI regulations aims for the safe and secure environment and treatments of the investors commencing their enterprises in Kiribati.

Moreover, Kiribati cherishes all foreign investors around the world and upholds fair and equitable principles when assessing their applications. As such, there are procedures under the law where unsatisfied investors – whether those whose applications have not been favourably considered or those starting or already operating their enterprises – have the right to appeal for their grievances. These grievances would be reviewed and considered by the Investment Appeal Panel or could progressed to the judicial levels.

 
Kiribati FDI Priorities
Kiribati adopts a focused approach to determining the FDI priorities. These priorities are guided by the National Investment Policy Framework (NIPF) and the Foreign Investment Act 2018 (FIA18). Currently, there are seven (7) priority sectors open for FDI in Kiribati including manufacturing; aquaculture; add-value coconut products; maritime services; renewable energy; hospitality and communications. The detailed sub-sectoral information of these priority sectors would be elaborated to interested and potential Chinese investors upon request. As such, interested Chinese investors are encouraged to contact the MTCIC (contact is given further below) for further information and details.

FDI Conditions
Kiribati policies and regulations also set the terms and conditions of the FDI. The seven FDI sector priorities mentioned earlier have different terms and conditions. These terms and conditions could include a joint-venture or unilateral business arrangements.

Joint-Venture Investment (JVI)
The Joint-Venture Investment arrangement is where foreign investors must have local business partners who are I-Kiribati. These local business partners could be private business individuals, State-owned Enterprises or a relevant ministry from the Government of Kiribati.

The Chinese investors will be responsible for seeking and securing their local business partners from Kiribati. However, the KEC, Ministry of Tourism, Commerce, Industry and Cooperatives (MTCIC) and the Kiribati Chamber of Commerce and Industry (KCCI) are willing and ready to assist our friends and investors from PRC upon request.

Unilateral Business Investment
Unilateral business arrangement is where investors decide to invest and do business in Kiribati without local partners. In undertaking this arrangement, interested Chinese investors – after their applications have been approved – will be expected to make all the necessary arrangements for in-country set ups and establishment of facilities (office, land, etc) by themselves, noting that the Government of Kiribati will provide assistance and support where required.

Equality and Fairness
We wish to emphasize again the importance of equality and fairness when dealing with our foreign investors from China and around the world. As mentioned earlier, Kiribati’s FDI regulations and policies promote equality and fairness. This ensures that the institutions established under the Foreign Investment Act 2018 for reviewing, appraising and addressing foreign investors’ applications and grievances adhere strictly to the regulations therein. As such, we wish to assure our Chinese investors that they will be cared for and treated equally and fairly.

Support to Chinese Investors
We sincerely value our Chinese investors and friends. Ensuring effective and efficient support to our Chinese investors is one of the Kiribati Embassy’s paramount objectives. This support would strengthen business-to-business (B2B), business-to-customers (B2C) and people-to-people (P2P) relationships. Effective communication and flow of information between the Chinese investors’ side and the Government of Kiribati’s side are crucial. To this end, simple procedures outlined below will ensure the Kiribati’s side provide effective support so that our Chinese investors receive efficient assistance in registering their interests with the Government of Kiribati; undertake productive and successful excursions to Kiribati where necessary and commence their enterprises’ operations in Kiribati smoothly and swiftly.

Registration of Interests
• Interested Chinese investors are to contact the Ministry of Tourism, Commerce, Industry and Cooperatives (on email: ntokanikai@commerce.gov.ki) and the Kiribati Embassy in China (kiribatiembassytca@outlook.com) for further information and advice including any inquiries about the issues discussed in this article.

• The KEC will undertake due diligence assessment of the investors through the Chinese national system of authentication and might take verification visits to the investors’ HQs and relevant sites.

• Investors whose applications that have been considered positively may want to undertake an excursion visit to Kiribati.

Excursion Visits to Kiribati
• Excursion visits to Kiribati is invaluable to seek or secure agreements with local partners under the JVI conditions, as well as first-hand sight and experience of Kiribati.

• Investors who decide to undertake an excursion visit to Kiribati must register their interests with the KEC on same email address provided above.

• The KEC will facilitate visas to Kiribati and provide necessary assistance to ensure the trip will be an informative, productive and successful one.

Operation of Enterprises
• Investors who wish to operate their enterprises in Kiribati will coordinate with the Investment Promotion Division to finalize all arrangements.

• The KEC will facilitate and coordinate all necessary support to investors as, when and where required to ensure the investors have long term and positive experiences that would bring mutual benefits for both sides.

Conclusion
I personally see a bright and prosperous future between Kiribati and China in the FDI sector, quoting from one of the recently signed Memorandum of Understanding by the two sides which states:
“China is willing to strengthen cooperation in the field of manufacturing, encourage more Chinese enterprises to investment in Kiribati, and help Kiribati promote its industrialization level”.

基里巴斯与中国的友谊简介

基里巴斯是一个独特的太平洋岛国。它是太平洋上唯一一个拥有两个不同时区的国家，也是每一个新年到来时第一个迎接和看到日出的国家。其独特的民族拥有11.9万多人，他们居住在低洼的环礁上（陆地面积811平方公里），这些环礁形成了三个主要的岛屿群，即吉尔伯特群岛、菲尼克斯群岛和莱恩群岛，它们自豪地矗立在太平洋中心350万平方公里的海洋区域。

从英国独立一年后，基里巴斯最初于1980年与中华人民共和国建立外交关系。这一重要的友谊在2003年被前政府断送，不过2016年塔内希·马茂总统开始执政，在其领导下，三年后的2019年，两国恢复了关系。

自恢复外交关系以来，基里巴斯和中国的友谊得到了加深，伙伴关系也得到了加强，两国人民之间实现了互利共赢。今年5月下旬，中国国务委员兼外交部长王毅首次访问基里巴斯，他在那里受到热烈欢迎，与基里巴斯领导人举行了以目标为导向的建设性的友好对话，并签署了谅解备忘录。这些丰硕成果进一步深化了两国间的各种关系。此外，今年基里巴斯在北京正式设立了驻中国大使馆，这意味着基里巴斯将致力于加强双方的友好对话和签署的共同协议，努力将两国和两国人民之间的友谊提升到新的建设性的高度。

在大使馆刚刚建馆的阶段，同时也在其众多愿景和目标中，经济外交与合作至关重要。投资、贸易、旅游，包括其他经济活动，是大使馆探索、推广和执行工作的关键组成部分，它需要得到中国中央和地方政府、相关机构和私营部门的支持和帮助。

 
⬆ 一个男孩和一个女孩展示基里巴斯男女传统舞蹈服装。表演基里巴斯传统舞蹈是所有青年男女都需要的技能

基里巴斯20年愿景和基里巴斯2020-2023年发展计划

在促进、简化和协调外国对基里巴斯直接投资的背景下，投资者首先必须简要了解基里巴斯未来20年的长期愿景（从2016年起，即现任政府开始执政的那一年）和为了实现这些长期目标而制定的中期实施计划。

在基里巴斯政治领导层的历史上，马茂政府是第一个制定长期计划的政府，该计划被称为KV20或基里巴斯20年愿景，了解这一点非常重要。20年愿景于2016年启动，是一项雄心勃勃的长期发展计划，旨在使基里巴斯成为一个更富裕、更健康、更和平的国家，这是20年愿景的三大首要目标。

20年愿景作为一项经济驱动的长期计划，充分认识到外国直接投资（FDI）作为“私营部门发展的有益要素”的重要性，因此，它的目标是到2036年，基里巴斯能拥有100多个有影响力和可持续的外国投资运营企业。

基里巴斯2020-2023年发展计划是20年愿景的中期实施计划。这一发展计划强调，外国直接投资是“促进基里巴斯私营部门发展和拉动国家经济增长的重要支柱”。为此，发展计划呼吁基里巴斯政府的所有相关部委、私营部门和利益攸关方能够有效实施国家投资政策框架，并为企业发展创造有利的和扶持性的环境。

⬆ 位于北岛Tabiteuea的Eita村的Maneaba是一个传统的社区会堂，村里的福利和决策在此开会做出，也是专门娱乐的地方

 基里巴斯外国直接投资的目标、法规和管理）

在努力实现20年愿景中设定的促进外国直接投资目标的过程中，基里巴斯政府于2018年制定了2018-2028年国家投资政策框架，并在2018年外国投资法中确立了外国直接投资条例。这充分证明了基里巴斯政府致力于改善和加强外国直接投资部门，以吸引外国投资者的决心。

基里巴斯政府认为，外国直接投资将促进基里巴斯的经济发展目标，包括为向工业化社会转型提供充足的直接投资，这样就可以鼓励创造就业、技术转让、能力建设、自然资源增值和增加外汇收入，同时还能够减少失业、贫困和经济不平等，从而加速基里巴斯经济的增长和多样化。

根据该法案，外国直接投资由旅游、商业、工业和合作部下属的投资促进司管理。所有感兴趣的外国投资者都应向外国投资登记处申请登记其在基里巴斯投资的权益。登记处的负责人会在严格保密的程序下展开尽职调查，对申请进行评估。尽职调查结束后，投资价值超过25万澳元的投资者的申请需要经内阁审议。

申请成功的投资者将获得登记处颁发的外国投资证书。这一证书授权投资者可以合法地在其申请的行业范围内开展业务。应当明白，外国直接投资条例旨在为在基里巴斯兴办企业的投资者提供安全可靠的环境和待遇。

此外，基里巴斯会保护世界各地的所有外国投资者，并在评估其申请时坚持公平和公正的原则。所以，法律规定了一些程序，不满意的投资者——无论是其申请未得到积极考虑的投资者，还是刚开始或已经在经营其企业的投资者——都有权就其不满提出上诉。投资上诉小组会对这些申诉进行复核和审议，或将其提交到司法机构。

 
基里巴斯外国直接投资的优先事项

基里巴斯在确定外国直接投资的优先事项时采取了重点突出的办法。 这些优先事项受到国家投资政策框架和《2018年外国投资法》的指导。目前，基里巴斯有七个领域对外国直接投资开放，它们是制造业、水产养殖、椰子产品的增值、海事服务、可再生能源、服务业和通信。感兴趣和潜在的中国投资者如果有需求，我们可以就这些优先领域的子领域的信息提供详细阐述。总之，我们鼓励感兴趣的中国投资者与基里巴斯旅游、商业、工业和合作部联系，以获取更多的信息和详情。

 
外国直接投资的条件

基里巴斯的政策和条例还规定了外国直接投资的条款和条件。上面提到的外国直接投资的七个优先领域也有不同的条款和条件。它们还包括对合资企业或独资企业的安排。

合资企业投资
在对合资企业投资的安排中，外国投资者必须有当地的商业伙伴，他们需要是基里巴斯人。这些当地商业伙伴可以是个体私人企业、国有企业或基里巴斯政府的相关部门。

中国投资者要自己负责在基里巴斯寻找并锁定其当地的商业伙伴。不过，基里巴斯驻中国大使馆、基里巴斯旅游、商业、工业和合作部和基里巴斯工商会都愿意并做好准备，会应要求协助我们的中国朋友和投资者。

独资企业投资
对独资企业的安排是投资者需要在没有当地合作伙伴的情况下自己决定在基里巴斯的投资并开展业务。按照这一安排，有兴趣的中国投资者在其申请获得批准后，将自行在基里巴斯国内筹备和设立所有所需的设施（办公室、土地等），但基里巴斯政府一定会在需要时提供援助和支持。

平等和公正
我们想再次强调在与来自中国和世界各地的外国投资者交往时平等和公平的重要性。如前所述，基里巴斯的外国直接投资条例和政策就是为了体现平等和公平。它确保了根据《2018年外国投资法》设立的机构，在审查、评估和解决外国投资者的申请和申诉时，必须严格遵守其中的规定。因此，我们向中国投资者保证，他们将在基里巴斯得到平等和公平的关照和对待。

 
对中国投资者的支持

我们真诚地重视我们的中国朋友和投资者。确保向中国投资者提供有效和迅速的支持是基里巴斯驻华大使馆的首要目标之一。因为这样的支持能够加强企业与企业、企业与客户以及人与人之间的关系。中国投资者和基里巴斯政府之间的有效沟通和信息交流至关重要。为此，下面提供了一些简要的程序介绍，它们涉及基里巴斯方面能够给予的有效支持，以便中国投资者在基里巴斯政府登记其权益时获得协助；如需前往基里巴斯，也可以取得富有成果的收获；并能够顺利、迅速地在基里巴斯开始他们的企业运营。

权益登记
· 感兴趣的中国投资者可以联系基里巴斯旅游、商业、工业和合作部（ntokanikai@commerce.gov.ki）和基里巴斯驻华大使馆（kiribatiembassytca@outlook.com）以获取更多的信息和建议，包括本文提及的任何事项的查询。

· 基里巴斯驻华大使馆将通过中国国家认证系统对投资者进行尽职调查评估，并可能对投资者的总部和相关场所进行实地考查访问。

· 申请得到积极考虑的投资者可能希望前往基里巴斯进行实地考查。

考查基里巴斯
· 对于在合资企业投资条件下寻找当地合作伙伴并能与之达成一致的投资者来说，亲自了解和体验基里巴斯的考查之旅是非常有必要的。

· 决定前往基里巴斯考查的投资者必须通过上面提供的电子邮件向基里巴斯驻华大使馆登记其意向。

· 基里巴斯驻华大使馆会为前往基里巴斯的投资者在签证方面提供便利，并提供必要的协助，确保其此行内容丰富、富有成效和取得成功。

企业经营
· 希望在基里巴斯经营企业的投资者要与投资促进司进行沟通配合，确定所有的最终安排。

· 基里巴斯驻华大使馆会在需要时促进和协调对投资者的所有必要支持，确保投资者能拥有长期和积极的体验，并使合作双方能实现互利。

 
结语

基里巴斯和中国在外国直接投资领域有着欣欣向荣的未来。最后我想引用双方最近签署的谅解备忘录中的一句话：
“中方愿意加强制造业领域的合作，并会鼓励更多的中国企业到基里巴斯投资，帮助基里巴斯提升工业化水平。”