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British Virgin Islands Premier Leads Delegation to London for Key Talks on Governance, Finance, and Climate Change

Editor — Fri, 06 Sep 2024 19:43:25 +0000

Premier Dr. Natalio D. Wheatley of the British Virgin Islands will lead a delegation to London next week for high-level meetings with the newly appointed Minister for Overseas Territories, Stephen Doughty, MP, and other members of the UK Parliament. The visit, from September 9th to 13th, aims to foster a modern partnership between the British Virgin Islands (BVI) and the United Kingdom, rooted in mutual trust, respect, and cultural understanding.

Accompanying the Premier will be Deputy Premier and Minister for Financial Services, Labour and Trade, Lorna Smith, OBE; Ayana Glasgow, Executive Director of International Business Regulations; Kedrick Malone, Governance Reform Delivery Manager; and Kenneth Baker, Managing Director of the Financial Services Commission. His Excellency Daniel Pruce will also attend the meeting with the Overseas Territories Minister.

The delegation’s agenda includes discussions with political leaders, media, and private sector representatives from the financial and professional services industries. Premier Wheatley plans to highlight the substantial progress the BVI has made in implementing governance reforms since the Commission of Inquiry’s unprecedented review of the territory’s governance. To date, 45 of the 48 recommendations have been completed, with legislation for the remaining items moving toward final approval in the House of Assembly.

The meetings will also cover efforts to meet the recommendations of the Caribbean Financial Action Task Force’s Mutual Evaluation Report. These efforts include establishing a Sanctions Unit, revising the national anti-money laundering and counter-terrorist financing strategy, and forming working groups to address risks associated with financial activities.

Climate change is also on the agenda, with meetings scheduled with private sector climate finance experts to address its impact on the Virgin Islands.

Premier Wheatley emphasized the importance of engaging directly with UK officials and stakeholders, stating: “Engaging face-to-face with parliamentarians, officials, regulators, and the private sector is critical to building stronger ties and establishing the modern partnership we seek with the United Kingdom.” A reception hosted by Speaker of the House of Commons, Sir Lindsay Hoyle, will provide an opportunity to strengthen these ties and promote an understanding of the BVI to a broader audience.

The visit is seen as a critical step in continuing to build a stronger relationship with the United Kingdom, focusing on governance, financial regulation, and climate resilience.

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Deputy Premier Applauds Virgin Islands MSMEs and Banks Following Successful Business Banking Expo

Editor — Mon, 08 Jul 2024 20:01:42 +0000

Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, OBE, has commended the Micro, Small and Medium-Sized Enterprise (MSME) sector alongside local banks in the Virgin Islands for their active participation in the recent Business Banking Expo. Organised by the Ministry of Financial Services, Labour and Trade in collaboration with the BVI Bank Association, the Expo aimed to foster closer ties between the business and banking communities.

Featuring presentations from key figures including the Premier and Deputy Premier of the Virgin Islands, the event also saw contributions from representatives of the Financial Services Commission, the BVI Chamber of Commerce, and the Department of Trade and Investment Promotion and Consumer Affairs.

The Expo served as a platform to explore new avenues for collaboration with the shared objective of creating a supportive environment for MSMEs. Central to discussions was the banking sector’s commitment to enhancing customer education, aimed at raising awareness of banking products and simplifying client interactions.

Deputy Premier Smith emphasised the importance of strengthening relationships between businesses and banks, particularly in navigating financial procedures and accessing crucial funding for growth and sustainability. She expressed satisfaction with the Expo’s turnout and pledged ongoing collaboration between her Ministry, banks, and the business community to translate ideas discussed into actionable initiatives.

Continuing her engagement with the BVI Bank Association post-conference, Deputy Premier Smith highlighted efforts to enhance financial literacy among entrepreneurs and promote greater understanding of available financing opportunities.

Proposed initiatives from the event included town hall meetings, educational sessions, specialised loan programmes, community outreach, and tailored training for small business clients. Deputy Premier Smith lauded these initiatives as practical solutions that align with her Ministry’s commitment to bolstering MSME support, including the forthcoming MSME grant assistance programme.

Participants unanimously agreed on the success of the Expo and endorsed its continuation as an annual event, underscoring its role in fostering ongoing dialogue and collaboration between the sectors vital to the territory’s economic growth.

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A Glimpse into History: H. Lavity Stoutt Commemorative Celebration

Editor — Wed, 28 Feb 2024 20:56:29 +0000

Students of the H. Lavity Stoutt Community College recently transported audiences back to the First Sitting of the 13th Legislative Council in 1995, offering a compelling re-enactment that illuminated the visionary plans of past leaders.

As part of the 24th H. Lavity Stoutt Commemorative Celebration, this portrayal condensed the essence of the 1995 sitting, showcasing initiatives that have since blossomed into tangible achievements.

From the expansion of crucial infrastructure like the hospital and Central Administration Complex to the introduction of Integrity legislation, the re-enactment captured the foresight and dedication of those who laid the groundwork for the Territory’s progress.

In her address, Acting Premier Honourable Lorna G. Smith, OBE, reflected on Mr. Stoutt’s enduring legacy, highlighting his passion for the Territory, youth development, and excellence. “Mr. Stoutt’s vision for a world-class country began at a young age and persisted until his passing,” she remarked, underscoring the timeless relevance of his three core passions.

Among the distinguished guests were past members of the 1995 sitting, including Mr. Alvin Christopher, Mr. Keith Flax, and Mrs. Eileene L. Parsons, OBE, one of the first elected females. Their presence added depth and authenticity to the commemoration, offering firsthand insights into the historical significance of the proceedings.

The cast, comprised of dedicated students and relatives of historical figures, breathed life into the re-enactment, honoring the memory of those who shaped the Territory’s trajectory.

From Honourable H. Lavity Stoutt to Mr. Keith Flax, each portrayal captured the essence of leadership and commitment that defined that pivotal moment in history.

The commemoration extends beyond the re-enactment, featuring a series of events open to the public. From the Wreath Laying Ceremony to the Radio Quiz and Fair showcasing H. L. Stoutt’s impact, these activities offer opportunities for reflection, learning, and community engagement.

To witness the re-enactment click the link below

https://bit.ly/13legco.

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