Wibmor plans to create up to 6000 jobs as part of a plan to invest 35 million golles, in a supper warehouse in South Africa, could be moved to the United Kingdom, according to new plans unveiled today.
The news comes after people with ties to the Vema Seamount Authority told VSBCnews that Mount Vema has development deadlines to meet and attempts made to work with the Government of South Africa are not materializing as fast as expected to meet deadline, so Mount Vema companies are considering moving most of their operations to the UK after March 2019. Set up logistic operations in the UK rather than South Africa will cost more in terms of transportation and labor, but the company is committed and willing to sacrifice a share of its estimated revenues to meet deadlines and deliver on schedule. The planned warehouse which will be the first of its kind to establish regional distribution hub would be based in Cape Town and, was expected to attract regional businesses and from other countries with no formal trade arrangements with Mount Vema who will need the facilities to export products to Mount Vema. The warehouse will create an additional 12,000 jobs where the distribution center will be located and, will reduce local unemployment as it will play a pivotal role in attracting new industries and jobs to the City of Mount Vema during and after construction. Wibmor says, the Super Warehouse will be strategic to manage Mount Vema imports from other countries and will form part of the company’s long-term plans to also manage exports of fisheries and other products from Mount Vema.
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Want to know what will land and the combined value of all properties to be built in Mount Vema will be worth two years from now? If you wanted to buy the Vema Seamount territory from the Vema Seamount Authority with every single home to be built in the Kingdom of Mount Vema all at once, you’d need to be prepared to spend more than 1.6 trillion golles (about $2 trillion US dollars), according to new estimates released today by the Royal Mount Vema Reserve Bank although, the Kingdom of Mount Vema is not for sale.
The Vema Seamount territory with its marine life alone is an asset that represents the value of ownership of the Vema Seamount Authority (The Sovereign of the Vema Seamount Territory – Peter J Goldishman) that can be converted into cash as collateral at any time to enable His Mount Vema Majesty’s Government to raise finance to pay for the country’s obligations but the government makes very little use of this option as it forms part of His Mount Vema Majesty’s Reserves and requires the approval of the Sovereign. Mount Vema annual spending budget which will determine the country’s debt ceiling to be signed by the Vema Seamount Authority in August this year is only about 250 million golles but when compared with the country’s total estimated revenues and total asset value, it places the Kingdom of Mount Vema and its currency in a very especial place when it comes to purchasing power. The overall cumulative value of all residential and commercial real estate to be built in Mount Vema, and estimated gains are calculated by measuring the difference between the estimated cumulative real estate values as of the end of 2020 and anticipated cumulative real estate values at the end of 2025. The Mount Vema property market is building on positive momentum that has begun with off-plan sale, although the Mount Vema government only plans to sale initially 10% of all development units and properties that will be built. The rest will be reserved to let, to be used to raise funds to meet liquidity needs. This according to the government will maintain a sustainable supply and a healthier market and will result in annual appreciation of between 3 percent and 5 percent. Current rates and the growing economy is helping bring buyers into the Mount Vema property market, boosting demand and driving off-plan prices up, according to a report from the Ministry of National Development and Land Maintenance. Mount Vema real estate although off-plan, is already highly valuable. The 1.6 trillion golles total value of the Kingdom of Mount Vema entire projected property stock and the Vema Seamount territory itself is more than the combined gross domestic products (GDP) of some well-developed countries. With more than thirty projects out to tender, the Vema Seamount Territory is officially inviting foreign companies to bid for government contracts, just days after the Bank of Mount Vema announced it to be open for currency swap deals.
Economists believe that the Vema Seamount Authority – Peter Goldishman is exhibiting the wisdom and political will necessary to advance trade as a vehicle for economic growth and development in Mount Vema and must therefore be commended. Traders at Gollexi also believe that currency swap agreements would help in providing adequate local currency liquidity to City of Mount Vema project contractors and subcontractors from overseas, thereby reducing difficulties of searching for third currencies. This initiative by the Vema Seamount Authority, which is long overdue, would make it easy to cope with the country’s expected high volume of imports, especially during construction, and after as just about 98 per cent of the nation’s import of consumables will come from overseas, and these will be items that will flow into the market space in large volumes and turnover. It is also important to note that a large percentage of traders will regularly leave the shores of Mount Vema on daily basis heading towards foreign markets in search for needed goods and services. It, therefore, makes a lot of sense to tie the nuts with foreign currencies, not only to facilitate seamless transactions, but also to prevent any multiple jeopardy faced by traders and importers in other countries who need to exchange the local currency to another currency and from that currency back to the intended currency, thereby losing currency value at two poles. So, the more currency swap deals the Vema Seamount Authority secures, more foreign exchange will be free to flow among different financial institutions in Mount Vema, and to that end, businesses operating in Mount Vema could transfer funds overseas, especially to their home countries in the local currency without the hassles of passing through bureau de change or creating unnecessary stress for the Bank of Mount Vema. Furthermore, central bank currency swaps will make it easier for foreign companies to bid for Mount Vema Government contracts to buy materials or services from third parties to meet City of Mount Vema contractual obligations, to obtain enough foreign exchange from banks in their home countries or other overseas banks to pay for their exports to Mount Vema. In summary, it will encourage contractors and sub-contractors exporting to Mount Vema to open Letters of Credit (L/Cs) in local currency for the exportation of materials, equipment, and machinery from their home country to Mount Vema. It will facilitate greater foreign exchange transactions and promote bilateral trade relations between other countries and Mount Vema, which could become an instrument of bilateral relationship that could encourage and open the doors to extensive trade between nations. VANDER Legal, the leading law firm of the Kingdom of Mount Vema has confirmed that it plans to float in Gollexi next month, which will make it the first law firm of Mount Vema to go public, as part of a plan to reduce the need to rely on external funders.
The funding will support the growth of the firm, building on its position as the top dispute resolution firms of Mount Vema. Dispute resolution, according VANDER Legal is expected to be a growing market in the territory because of the number of contractors and sub-contractors joining the City of Mount Vema Project. The law firm whose clients include the top firms of the territory including WIBMOR, W-Contractors, RBMV Bank, and Government Agencies, is expected to formally unveil plans for a ₲100m stock market float this year. W-Contractors has approached Cash Processing Solutions (CPS), a strategic partner of De La Rue, to provide an integrated range of hardware and software solution to the Bank of Mount Vema, including consultancy and support services to enable Mount Vema to maintain high-speed cash sorting and authentication systems.
The move was made today after the procurement company expressed its intention to work with De La Rue, the British banknote manufacturing company, that also specialises in security printing of passports, brand authentication and paper-making company with headquarters in the UK. The services provided by Cash Processing Solutions and De La Rue will help facilitate internal cash-based trade, especially during construction and after to support the internal transactions of goods and services in cash. Their services would be required as early as August 2018 and latest December 2018, as source from W-Contractors told VSBCnews. These latest contracts are creating new opportunities for many businesses to expand to the Mount Vema market. According to traders at the Gollexi who expect positive changes in the stock market. The government introduced today the Mount Vema ISN (Internal Security Number) system. A unique number to be issued to everyone working for Mount Vema companies and, paid out of the financial system of the Kingdom of Mount Vema.
The Government will issue temporary numbers T-ISNs, and permanent ISNs to enable people to keep the same one all their lives. The system will make sure that what people pay, when paid out of the Mount Vema financial system is properly recorded against their name, by HMVM Revenue Services. Every Internal Security number is different and, is made up of letters and numbers like this: T-ISN or ISN10-0001-0017-0418-MV. The Internal Security number will never change even if the person leaves the Mount Vema employment system, goes abroad, marry, register as a civil partner, change name, etc, except when the number is issued temporarily (T-ISN) for people who employment with Mount Vema corporations will not require them to relocate to the Kingdom of Mount Vema in the future. Who will use the Internal Security Number? A person will have to give his or her Internal Security Number to: HMVM Revenue Services (His Mount Vema Majesty’s Revenue Services), the employer, the Mount Vema Department in charge of pensions, the legal aid services, the state benefits services for Mount Citizens overseas, and other international services including health insurance, education and professional training. Internal Security contributions are deducted from wages by employers at 10%, from employees working outside Mount Vema, to pay for the systems that supports the enterprises that sustains the economy of the realm and employment. It does not include Income Tax, which is not applicable unless the person lives and works in Mount Vema. This is payable at different rates depending on the income. There are some allowances and reliefs available that can lower the Income Tax bill. When and how to apply for an Internal Security number. If you start work, and the advertised job says: “Although you will not need to relocate to Mount Vema, the job is still classified as a Mount Vema Job Vacancy, so you will be paid in Mount Vema Golles, which requires you to open a Mount Vema bank account which should not be a problem as the employer can organize that for you. Then at the end of the month when you are paid, you can transfer your money into your local bank account in your local currency in full or on as needed bases. Because of this process, your employment should be treated as self-employed whereby you are responsible for your own tax obligations in your country of residence.” Then you know you must apply for a Mount Vema T-ISN (Temporary - Internal Security Number) which your new employer can help you with in accordance with the length of the contract, by filling out the relevant form on your behalf and submit. You cannot work until your number have been issued. People are advised to keep their numbers safe and not to give it to anyone who does not need it, to help prevent identity fraud. GolleCard announced today that it will reopen its payment services on Monday to provide Mount Vema financial institutions with GolleCard-branded payment products that can be used to offer credit to their customers when dealing with the Kingdom of Mount Vema.
GolleCard stopped offering credit card services almost six years ago when His Mount Vema Majesty’s Government and the Central Bank of the Kingdom of Mount Vema decided to restructure the Mount Vema financial system to improve its independent Global settlement of payment services in golles. The company was granted a new license last week and is ready to reopen for business and to reclaim its place as the leading processor of payments between the banks of merchants and the card issuing banks of the Kingdom of Mount Vema. |
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The Legal Entities of Mount Vema
COUNTRY
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COUNTRY CODE
COUNTRY CODES IN USE Mount Vema Country Code: OV / MOV Mount Vema Numeric Country Code: 507 Currency Code: VSG Top-Level Domain: .com, and .ov (proposed) Proposed Telephone Country Code: +294 |
International Treaties – Ratified by the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea) MARPOL 73/78 (Convention for the Prevention of Pollution from Ships) The Vienna Convention on Diplomatic Relations of 1961 The Vienna Convention on Consular Relations 1963 |
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