The Ministry may also seek advice from the Development Bank of Tuvalu as well as other ministries and government departments. Large investment projects may also be referred to the Cabinet for consideration and approval. Competition Policy Price controls are applied to essential commodities for example, basic food items and mineral fuels. There is no legislation in respect of monopolies and anti-trust, and acquisitions and mergers. Imports Most capital items, including plant, machinery and vehicles for newly established businesses, are exempted from duty upon application.
All building materials are imported duty free.
Both public or private companies may be formed. Foreign companies may carry on a business within Tuvalu provided they register with the Registrar of Companies. Labor and Labor Regulations Formal employment in the cash sector is around 1,500, representing only 25 percent of the aged group 15-54 years. The remaining are mostly involved in rural based subsistence activities for their livelihood. Most wage rates in the private sector are based upon the government salary scale.