The British Virgin Islands (BVI) is to expand and diversify the islands’ financial service industry in order to strengthen the territory’s reputation.
Input and comment will be sought from public sector representatives, domestic private sector practitioners, and other BVI international practitioners in Latin America, Europe, and Asia.
Introducing the review, the British Virgin Islands’ Premier and Minister of Finance, Orlando Smith said: “Over the past two years I have led a number of initiatives which sought to critically look at our financial services industry and determine how we should position ourselves for the future.”
“Throughout that period the industry has been subject to a number of shocks which threaten the viability of what is our most important economic pillar. I am therefore pleased to have commissioned this latest engagement.”
“I look forward to receiving the final implementation plan and the territory being able to move forward strategically as a global financial services leader, with a stronger and more diversified financial services industry.”