British Virgin Islands Business News

The analysis of the latest events in BVI and worldwide, affecting BVI business environment; facts and statistics on BVI International Business Companies involved in global business activities.

Wednesday, September 02, 2009

Orlando Smith Speaks on Government's Achievements

The Leader of the Opposition Dr. Orlando Smith, in his interview on the Virgin Islands Party (VIP) mid term in office and their achievements, stated that one of the major branches of economy of the BVI territory, tourism, is neglected to some extent.

By words of Orlando Smith, the administration of Hon. Premier Ralph O’Neal is not putting enough emphasis on tourism, even taking into account the global economic situation. Dr. Smith stated that the government has not done enough for tourism industry, and the financing of the promotion of the BVI territory was not sufficient.

The Leader of the Opposition also talked about the development of financial services industry, which is as important for BVI as tourism, and which is becoming more challenging with the implementation of new international rules. He named some major achievements of the BVI government in the past year, among them the signing of the Territory's 12th Tax Exchange Information Agreement; he highly appreciated it as a real achievement, and reminded efficient work of the previous administration in establishing an International Affairs Secretariat.

Other successful accomplishments of the Government, in the opinion of the Opposition, were the successful hosting of the 49th Meeting of the OECS Authority, and the construction of the Commercial Court. However, Dr. Smith noted some troubles existing in the British Virgin Islands.

The administration of the Virgin Islands Party was elected exactly two years ago, in August 2007, and now Hon. Ralph O'Neal is to deliver a full speech highlighting Government's achievements. Further comments of the opposition are expected after it.

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