The Government has confirmed rumours that it has authorized W-Contractors to spend 1.6 million golles to pay for a floating dry dock before the end of October. The purchase is part of a plan to acquire three large floating dry docks for building, maintenance, and repair ships, boats, and other water craft in Mount Vema.
The docks will be used during the construction of large structures for the City of Mount Vema, as they have always been the key in construction of large structures. One example is the dry dock on the artificial island of Neeltje-Jans used for the construction of the Oosterscheldekering, the large dam in the Netherlands that consists of 65 concrete pillars weighing 18,000 tonnes each. The pillars were constructed in a drydock and towed to their final place on the seabed.
The dry dock will be the work place for architects, project engineers, naval architects and foremen, and will be key to ensuring the safe, timely and well-resourced completion of projects in many areas including buildings the Port of Mount Vema, the Yacht Harbour, the floating city ducks and breakwaters.
Dry docks will continue to be used after the construction of the City of Mount Vema, by naval architects to design, build and repair floating structures and homes for the City of Mount Vema project, including build and repair ships boats and other seafaring vessels and offshore structures including ferries, high-speed craft, merchant ships - tankers, cargo ships, passenger liners, pleasure craft - yachts, power boats, working vessels - fishing boats, and rescue boats.
Economic report data compiled by The Royal Mount Vema Department of Statistics and Risk Assessment every month on credit, liquidity programs and the balance sheet of the Vema Seamount Territory, released at the end of every quarter by the Reserve Bank indicates that the Mount Vema economy grew 12.16% this last quarter.
The data is one of the most reliable sources of information published every quarter and shows that the economy of Mount Vema is entering a new phase of development as the economic activity increases overseas and the government spreads its wings in the international arena pushing for policies that facilitate jobs creation and growth.
When compared to the April economic data for the previous quarter, the report shows that the economy is booming and grew faster this last quarter than any previous quarter and faster than any other year combined since the creation of the Kingdom of Mount Vema in 2006.
The report shows that more businesses increased investments in Mount Vema related projects globally than any other year. The data suggests that the Mount Vema economy is in good health and will continue to grow and expand not only fast but steadily.
The financial and services sector led the overall growth, thanks to demand for foreign exchange and legal services as investor confidence in the economy continues to strengthening the country’s investor base.
The report figures again could not pass the 20% mark estimated for this time of the year, but the pace of general economic activity increased and is expected to pass the mark later this year according to the government general plans and targets report.
Vema Seamount Legislation
The Statutory Laws of the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination