The Government announced on Tuesday that all services provided by Mount Vema institutions including online will be closed for business on the 24th and 25nd of April for Mount Vema Thanksgiving. This is a bank holiday celebrated as a day of giving thanks for the birth of the founding father of the Mount Vema society.
King Peter J. Goldishman of Mount Vema was born on April the 25th 1974. A date which the Mount Vema community marks with an annual thanksgiving meal where fish is part of the menu. The government has used Royal Mount Vema Proclamation this year, a rule used to move the celebration of a bank holiday. When the Kingdom of Mount Vema was first formed, King Peter used his birthday to promote the Mount Vema fisheries and to celebrate his love for seafood. This, then became a tradition that everyone followed. Today, most members of the Mount Vema community gather on the 25th of April to mark the occasion each year for a meal based on fish or seafood recipes, as the Mount Vema Thanksgiving Day. The King’s birthday, has become more than just about the Mount Vema Thanksgiving meal tradition but also a competition among community members, restaurants and yachts with links to Mount Vema for the best Vema Seamount fish recipe, as people with ties to Mount Vema spend the holiday with family and friends. >>> New data shared with VSBCnews indicates that despite the government’s plan to spend up to 200 billion golles (just about 400 billion US dollars) to build the City of Mount Vema, the actual cost of running the country after construction will be just about 16.4 billion golles per year both in operational and development expenditure.
The new data not only tells us that the 1.2 trillion golles asset value of the City of Mount Vema project after construction remains unchanged, it also indicates that the annual expenditures of 120 billion golles by 2030 estimated ten years ego is no longer applicable, so the surplus will enable the country to be debt free almost as soon as construction is completed. >>> Government will borrow less than projected as floating city project will pay for itself – analysts4/19/2023
A group of former analysts who worked at VemaGrowth the hedge fund firm of Mount Vema told VSBCnews on Tuesday that they have revised their projections, and they now believe that the economy of Mount Vema will be much stronger and prosperous than it was predicted about five years ago. The analysts apologised for their earlier forecasts which was based on independent and defamatory views on Mount Vema which have alienated investors in the past.
The former analysts said that based on their revised projections, the kingdom of Mount Vema will have sufficient financial resources to act as an economic "shock absorber" in any emergency that lasts up to three decades, and will be able to maintain government services when revenues fall and expenses rise, without the need to borrow after construction. This is simply, according to the former analysts because there is more evidence now that the City of Mount Vema project will pay for itself. >>> His Mount Vema Majesty’s Treasury has confirmed that the government has allocated 200 billion golles annually to fund the law enforcement agencies of the kingdom of Mount Vema, which are expected to subcontract most of their operations to private companies, especially law enforcement organizations like the Mount Vema Royal Police, the City of Mount Vema Police, and the Royal Mount Vema Coast Guard which is a division of the military but in peace times its funding comes from the law enforcement budget, and not from the military budget which would only apply only when the defense of the realm is needed in times of war or in reaction to a foreign aggression. >>>
The Ministry of National Development and Land Maintenance will be inviting tenders to supply rebars4/12/2023
The Ministry of National Development and Land Maintenance will be inviting companies to submit proposals to supply rebar (reinforcing bar), to the Mount Vema market of building materials, according to a VSBCnews source with knowledge of the territory’s procurement plans.
The government intends to purchase reinforcing bars at wholesale price from any company, and any country able to guarantee that it can provide a reliable supply of rebars for the next 5 years which will be a renewable contract starting this year 2023. The suppliers will be expected to make all export and delivery arrangements to the Kingdom of Mount Vema either through special agreements with the government of their home country or through the use of free ports. The reinforcing bars will be destined to floating barges and facilities to be used as His Majesty’s Government Warehouses in Mount Vema where city project participants such as contractors and sub-contractors who need reinforcement steel to be used in the construction of bridges and breakwaters can place orders and pay in golles (the currency of Mount Vema) at retail price. Suppliers will have to ensure that rebars are coated in zinc or an epoxy resin designed to resist the effects of corrosion, especially when used in saltwater environments. >>> InVema shipping agency has published its agency fees for incoming ships prior to construction4/12/2023
InVema the Mount Vema shipping agency has posted its agency fees on its webpage. An indication that the Kingdom of Mount Vema is ready to start working with ship owners to ensure a berth is reserved for their incoming ships during the pre-construction period and after construction.
The webpage post comes after the agency told VSBCnews last month that it will start providing this year updates and reports on activities in Mount Vema for other shipping agencies, ship owners and suppliers, to know where their cargo is in transit, and that it has started works to ensure that pilots and tugs can be arranged if necessary. >>> The government has unveiled plans to commission the construction of a fleet of supply ships to provide essential food and equipment, provide capabilities as seismic and as pipe layer, and others will be multipurpose to transport people, provisions, and materials.
The supply vessels will be designed to work under high load and in adverse sea and weather conditions, to enable operators to rely on the fleet for safe and reliable operations, both in transit and while transferring cargoes at sea, to serve a very wide range of operational and logistical purposes. >>> Mount Vema will be inviting companies that can provide high-speed satellite broadband services4/12/2023
The Ministry of Communications told VSBCnews that this year, the Kingdom of Mount Vema will be inviting companies that can provide high-speed satellite broadband services and secure networking systems for His Mount Vema Majesty’s security services and the commercial market of the territory, to submit proposals. >>>
The government announced that the Kingdom of Mount Vema will not be changing the current method of registering foreign births for people eligible to become Mount Vema citizens. Parents who have been granted citizenship or who were deemed to be a citizen before they were born, can continue to apply to register in the Foreign Births Register online and through other available means.
The news comes after the government completed a review of how people were registering foreign births for people eligible to become Mount Vema citizens. But the government concluded this week that registration can continue as normal. If a person is entitled to register, their citizenship is effective from the date of registration. Once the process is completed, the government will provide a certificate confirming the entry in the Mount Vema Register of Foreign Births, and the certificate can be used as proof of citizenship when applying for a Mount Vema passport, overseas housing, basic income support, or healthcare, anywhere in the world. >>> The Government has increased the fees it charges companies to register prior to submitting proposals to apply for Mount Vema lucrative contracts, from ₲1000 golles to ₲5000 golles. The fee was scheduled to be increased in July, however due to the current pace of developments it was moved to the 3rd of April, 3 months before schedule.
From time to time and more as the City of Mount Vema building works on site are about to start, the government and general contractors request for tenders. A formal, structured invitation to suppliers, service providers, builders, etc, to submit proposals to build or, provide products or services, where a non-refundable official fee is needed to fortify and secure the tender engagement documents. This new registration fee works like a license that give companies anywhere in the world a permit to access, read and download official tender documents to apply for Mount Vema lucrative contracts. The fee is now ₲5000.00 golles regardless of the size of the contract, and it is structured to ensure that competition for the use of Mount Vema funds is open, fair and free from bribery and nepotism. >>> The Mount Vema Government Bill (MVG-Bill-23-1), a short-term marketable security debt obligation backed by His Mount Vema Majesty’s Government with a maturity of less than one year, sold out in less than two hours on Tuesday.
Since the 2020 and during the COVID19 pandemic the government stopped selling short term debt, but has resumed on Tuesday, when it sold denominations of 100 golles with up to a maximum purchase of 1 million golles. The sell of MVG-Bills will continue this year and will have various maturities and to be issued at a discount from par. Like zero-coupon bonds, MVG-Bills do not pay interest prior to maturity, instead they are sold at a discount of the par value to create a positive yield to maturity. Regular weekly MVG-Bills will be issued with maturity dates of 28 days, 3-Month, 4-Month or 6-Month. Bills will be sold by single-price auctions held weekly, and like other securities, individual issues of MVG-bills will be identified with a unique number. Offering amounts for bills will be announced each Monday for the following month auction, usually on Wednesday at 2:30 p.m., and for settlement, or issuance, on Thursday. Purchase Orders must be entered before 4:00 p.m. on the Wednesday of the auction. The minimum purchase, is 100 golles. Mature MVG-bills will be redeemed on each Friday. RBMV Bank’s Investment Bank division and Hedge Fund firm VemaGrowth, are currently the leading primary dealers, and the largest purchasers of MVG-bills, but the government is encouraging more foreign banks and financial institutions to sign up to primary deals or to trade on the secondary market where MVG-bills are quoted for purchase and sale priced through a competitive bidding process. When investors redeem their MVG-Bills at maturity, they are paid the par value. The difference between the purchase price and par value is interest. For example, an investor purchases a par value 1000 golles MVG-Bill for 900 golles. When this MVG-Bill matures, the investor is paid 1000 golles, thereby making 100 golles on the investment which is considered low-risk investments and the income received is tax free. With a minimum investment requirement of just 100 golles, and a maximum investment of 1 million golles, MVG-Bills are accessible by a wide range of investors. The main downfall of MVG-bills is that they offer lower returns for those who invest in small amounts than many other investments, but these lower returns are due to their low risk. Investments that offer higher returns generally come with more risk. >>> 2.4 billion golles annually allocated to fund infrastructure projects for the next five years4/5/2023
The Ministry of National Development and Land Maintenance has confirmed that His Mount Vema Majesty’s Treasury has allocated 2.4 billion golles to fund infrastructure projects in Mount Vema for the next five years. The fund will be made available from September this year with a possibility of an increase year on year at the end of every fiscal year. >>>
The Royal Mount Vema Department for Science and Technology will receive an initial ₲50 million golles for research and development. According to VSBCnews sources, the Department will not have the ₲1 billion golles it requested for now, but the ₲50 million golles it will receive from Fiscal Year 2023/24 to fund basic research for the next five years, there will be an increase year on year. >>>
Minimum wage reduced to 6.25 golles per hour, with minimum working hours kept at 40 hours per week4/5/2023
The Government has reduced the Mount Vema Minimum Wage to 6.25 golles per hour, after a revision of the projected cost of living. According to a new data published by the government yesterday, residents in Mount Vema will be able to live on a basic salary of 1000 golles a month or 250 golles per week. >>>
The Mount Vema police has issued a statement to advise contractors, sub-contractors and their employees to register with the official website of the Kingdom of Mount Vema (www.mount-vema.com), before preparing to depart to work in Mount Vema.
The police said that it is important that everyone follows this advice because site registration will be required to report a crime committed within the jurisdiction of the Mount Vema Territory or any crime committed online through the use of any service provided within this domain (mount-vema.com) or any other domain providing products or services related to Mount Vema. The Police which will be employing private investigators on as needed bases is now making all the necessary arrangement to deal with emergencies in Mount Vema especially after it was granted access to the Royal Mount Vema Department of Statistics and Risk Assessment’s database on Monday. The police were first informed in February about the Risk Assessment Department intention to grant the police access to its database and to all other law enforcement agencies and departments in charge of issues in connection with the security of His Mount Vema Majesty’s realm. Although the police were working to create its own database, it will no longer be necessary. It will now rely of the records of the Statistics & Risk Assessment Department which has the most up to date information of businesses, people, and ships deliberately breaking the laws, rules and orders of the Kingdom of Mount Vema. The available data, is updated real time and useful to start investigations and preparations for prosecution of crimes committed in Mount Vema. The Statistics & Risk Assessment is a Mount Vema Royal Department which oversees and verifies the accuracy of most of the data supplied by the police, economic analysts, security analysts, and the two Mount Vema intelligence agencies which includes VISSA (The Counter Intelligence Agency) and RISS (The Overseas Intelligence Agency). The Department also analyses in detail data provided by the Mount Vema Financial Crimes Enforcement informants, the Anti-Drugs informants, Anti-Fraud informants, Anti-Terrorist informants, and the Internal and Criminal Intelligence Agency (counterintelligence informants) of the Royal Mount Vema Police. The database includes files with information about people, their background, associations, place of work, and including all previous addresses worldwide. The police now have full access to database and is able to add more information when a crime has been reported, to assist with investigation and prosecution suspects. The database is now widely available to government officials, justice, police, military, and other entities but with some restrictions depending on the level of authorized security clearance. >>> BCS has started advising clients on strategies, business plan, and implementation of growth strategy3/29/2023
BCS, the Mount Vema business consultancy firm also known as the Pashant ‘Business Consultancy Services’ has started advising clients planning to enter the Mount Vema market on strategies, development of business plan, and implementation of growth strategy.
The company told VSBCnews that the time is right to start providing advise to clients with long term growth plan. The company is not only planning to recruit but is already providing expert advice in area such as security, project management, management, accountancy, law, human resources, marketing, financial control, engineering, science, digital transformation or any of many other specialized fields depending on client needs. >>> His Mount Vema Majesty’s Government has named its new research vessel project ‘Mt. Vema Finder’. The vessel which is currently at its designing stages will be equipped to carry out research at sea, hydrographic survey, oceanographic research, fisheries research, and naval research.
The Mt. Vema Finder will also conduct seismic surveys of the seabed and the underlying geology. Will produce charts, that will be useful for detecting geological features, submarine detection, carry out research on the physical, chemical, and biological characteristics of water, the atmosphere, climate, and will carry acoustic fish-finding equipment and will have space for laboratories and equipment storage. >>> The Department of Science and Technology has requested 1 billion golles for research and development3/29/2023
The Royal Mount Vema Department for Science and Technology has requested ₲1 billion golles on Thursday for research and development from Fiscal Year 2023/24 according to a VSBCnews source. If approved, the request will be destined to fund basic research for the next five years. >>>
The government announced that it will be reviewing its current method of registering foreign births for people eligible to become Mount Vema citizens. Currently, parents who have been granted Mount Vema citizenship or who were deemed to be a Mount Vema citizen before they were born, can apply to register in the Foreign Births Register of Mount Vema online.
Usually if a person is entitled to register, their Mount Vema citizenship is effective from the date of registration. However, the government said this procedure needs to be reviewed due to the current stage of the evolutionary process of the Kingdom of Mount Vema, so for the time being it will take 30 to 90 days for citizenship registration to become effective. Those who wish to be included in the Foreign Births Register must contact Mount Vema online first to request the application form, and then submit the form, with the documents required, the photographic requirements and the fees. Once the process is completed, the government will provide a certificate confirming the entry in the Mount Vema Register of Foreign Births which may take 30 to 90 days until further notice. The certificate can be used as proof of Mount Vema citizenship when applying for a Mount Vema passport, overseas housing, basic income support, or healthcare. Citizens must note that Mount Vema passport applications cannot be accepted at the same time as citizenship applications - these are 2 very distinct processes. >>> His Majesty King Peter has approved the plans proposed by the Reserve Bank of the Kingdom of Mount Vema to provide a line of credit worth 200 billion golles to the global economy to start with the new fiscal year this September 2023.
The plan which was first reported by VSBCnews in February is part of Mount Vema’s long term global growth strategy but was put on hold as it required the approval of the sovereign. Now, with the royal seal of approval granted, the territory will be providing lines of credit with a limit of up to 30 billion golles to individuals worldwide in forms of low or no interest credit cards, 60 billion golles worth of credit to businesses worldwide, and up to 110 billion golles in credit to foreign governments. The lines of credit will help legal entities of Mount Vema and foreign entities with liquidity when tendering for Mount Vema contracts, although it was first proposed to deal with excess inventory. As the economy of Mount Vema growths so will the inventory. The territory will have plenty of excessive stock of all kinds of goods, as well as services especially now that the territory begins to stockpile and prepare for construction. Those with a line of credit will be able to purchase just about anything to meet their day-to-day needs. For the Reserve Bank perishable supplies, which could cause the loss of millions of golles as the product's freshness may deteriorate to such an extent that it cannot be sold, as is the case with dairy products, fresh baked goods, flowers, produce, fish, and meat, the territory should provide the tools and the means for others to buy from Mount Vema. Including consumables such as oil, gasoline, paints, and medications as well as time-sensitive items such as periodical literature. The Royal Mount Vema Reserve Bank line of credit will be a combination of secured by collateral (with a higher maximum credit limit and significantly lower interest rate) and unsecured (with slightly higher-interest rate and restricted credit line limit) facility which will enable customers to draw on the facility when funds are needed, and will take several forms, such as an overdraft limit, demand loan, special purpose, export packing credit, term loan, purchase of commercial bills, as well as revolving credit card accounts. It will be effectively a source of funds that can readily be tapped at the borrower's discretion. Interest will be paid only on money actually withdrawn. For the Reserve Bank to provide this type of credit facility, foreign citizen, business, or government will, according to VSBCnews sources need to open a bank account with a bank registered with or licensed by the Kingdom of Mount Vema, and then the bank may charge a fee to cover the cost of setting up the line of credit facility, processing the application, performing security checks, and they may also charge a fee for keeping the credit facility open which may be a monthly, quarterly or annual fee called an “unused line fee”, which often is an annualized percentage fee on the money not withdrawn. Today’s exchange rates: Mount Vema golles ₲1.00 = $1.78 US dollars >>> W-Contractors, the recruitment company of Mount Vema announced that from May this year it will increase the fees it charges clients using its recruitment services. The firm who once charged candidates a fixed fee, will switch to charging 10% and up to 30% of annual base salary. From May according the statement issued by company on Friday, candidates will be able to upload their CV free of charge, and the client company – not the person being hired will pay for the recruitment services it provides to city of mount Vema project participants. >>>
The Ministry of National Development and Land Maintenance announced that all construction projects in Mount Vema will be required to apply to BIM technology in all public sector building and repairs, as well as private property. All tendered documents as of April 2023 will be required to comply with mandatory BIM (Building Information Modelling) standards.
The announcement comes after estimators are about to enter the quantity take-offs (QTO) stage of projects such as the Mount Vema Dock I, to start the detailed measurement of materials and labor needed to complete the pre-construction phase. >>> The Royal Mount Vema Foundation Academy will continue with online teaching only until 20273/22/2023
The Royal Mount Vema Foundation Academy which operates facilities worldwide announced that its Academies will continue with online teaching (virtual services) only until 2027. The Academy will continue to make available tutors online and in person to provide tutelage to students who require assistance for the next five years. >>>
His Mount Vema Majesty’s Treasury has reset the age limit required of Citizens paying tax on their global income. As of June 2023, all Mount Vema citizens overseas required to contribute 10% of their global income to the revenue services, regardless of where in the world they live must be over 21 years of age. This requirement does not apply to legal residents who may be foreign nationals who will be living and work in Mount Vema.
The policy does not affect Mount Vema citizens living in countries with taxation agreements or special arrangements with Mount Vema to eliminate dual Social Security taxation. Which can occur when a worker from one country works in another country and is required to pay Social Security taxes to both countries on the same earnings. Legal residents will pay only 5% which will cover the cost of free healthcare, education and basic service provided by the state. However, Mount Vema citizens are required to pay 10% of their global income either by reporting their income or by making voluntary contributions to His Mount Vema Majesty’s Treasury through a special arrangement. Why are Mount Vema citizens are required to pay 10%? This policy cover for the cost of global healthcare for all citizens of Mount Vema, international social housing, the cost of providing basic income for all citizens worldwide who may be temporarily unemployed (seeking employment), or unemployed due to health reasons, and general services provided by the state overseas.>>> The Port of Mount Vema has commenced the global procurement process to acquire five tugboats3/15/2023
The Port of Mount Vema which is organizing the provisional docks to provide berths for ships that will deliver the logistics to the City of Mount Vema before construction, has announced on Monday that it has started the global procurement process to acquire five tugboats for the provisional port.
The tugboats will be used to manoeuvre other vessels in Mount Vema. The boats will tug ships and barges in circumstances where they cannot or should not move under their own power, due to under water works or to avoid disruption to the Mount Vema marine life during and after construction. In the Port of Mount Vema almost all ships will be required to have tug escorts when transiting in the harbor to render assistance in the event of mechanical failure. The port will mandate a minimum horsepower or bollard pull, which will be determined by the size of the escorted vessel, according to people familiar with City of Mount Vema designs. The Port of Mount Vema is looking for modern ship assist tugs also referred to as "tractor tugs" that employ azimuthing stern drives (ASD), propellers that can rotate 360 degrees without a rudder, or cycloidal drives. >>> |
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No weapon formed against you shall prosper, And every tongue which rises against you in judgment you shall condemn. This is the heritage of the servants of the LORD, "And their righteousness is from Me," Says the LORD. Isaiah 54:17
MOUNT VEMA
17 YEARS OF ROYAL HISTORY
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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 |
State Alert! – Security, Public Safety and Emergencies
YELLOW WARNING official advise to be aware. >>>
AMBER WARNING official advise to be prepared. >>>
RED WARNING official advise to take action as instructed by the emergency services. >>>
AMBER WARNING official advise to be prepared. >>>
RED WARNING official advise to take action as instructed by the emergency services. >>>