BVI To Create Revamped Inward Investment Agency
by Mike Godfrey, Lowtax.net, Washington
26 November, 2015
The Government of the British Virgin Islands has announced plans to revamp BVI Finance by transforming the government agency into a corporate entity, allowing it greater autonomy as the marketing and promotional arm of the jurisdiction's financial services industry.
BVI Finance, formerly known as the BVI International Finance Centre, is in the process of implementing a number of initiatives aimed at addressing short-term challenges and creating an environment for long-term sustainable growth. As part of this, a business development manager will be recruited in early 2016, with business development becoming part of the agency's mandate.
Orlando Smith, BVI's Premier and Minister of Finance, said: "This is quite a significant step in laying the new foundation for our expanded partnership. The establishment of BVI Finance Limited will place... the private sector at the helm of driving the promotional and business development agenda of the industry."
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