News

In BVI, Business Development a Priority

By: Caribbean Journal Staff - December 20, 2011

Above: the Government Administration Building, Road Town (Photo: Carol A. Vanterpool)

By the Caribbean Journal staff

The promotion of business development is one of the highest priorities of BVI Premier Dr Orlando Smith’s government, he said yesterday in a statement.

Smith said the private sector contributes to the British Virgin Islands’ economy in a direct way and is the central driver for circulating wealth throughout the economy.

Accordingly, Smith said the government was reviewing the existing customs tariff regime with the aim of making imports more affordable to businesses.

The government is considering introducing a two-tier differential duty rate for retailers, without increasing the duty paid, which would help businesses become more price competitive, price sensitive and retain more business locally, Smith said.

Smith said the government had also started conversations with international shippers to get shipping costs, particularly from the United States, reduced to a structure more competitive with that of local Caribbean jurisdictions.

Also planed is the reestablishment of a Business Bureau to provide development assistance to entrepreneurs.

Kevin Smith has been named Business Development Liaison for two years to provide help in this regard.

“Businesses will only thrive if they are given the necessary support to do so,” the Premier said.

“A robust and vibrant private sector is a good sign of prosperity for any economy; this means developing all our businesses to ensure that prosperity is achieved.”

Popular Posts cape santa maria

The Best Caribbean Beach Resort You’ve Never Heard of 

There’s a boat just offshore called “Escape.”  It’s bobbing in some of the most brilliant, dynamic turquoise water I’ve ever seen, a few meters from a stretch of sand so bright and so white you have to squint to look […]


Marriott Is Opening Its New St Regis Resort In Aruba 

aruba st regis inside the restaurant with chairs

It was more than a decade ago that Marriott opened its first-ever Ritz-Carlton resort in the Dutch Caribbean: the Ritz-Carlton, Aruba, which at the time was the island’s first true five-star resort.  Fast forward to 2024, and Marriott is set […]


From All-Inclusive Resorts to Beaches, Travelers Are Falling in Love With Antigua and Barbuda

antigua barbuda frontier airlines the peninsula with sand

The plunge-pool villas at Hammock Cove. The historic streets of Nelson’s Dockyard. Pool days at Sheer Rocks. Unforgettable honeymoons. Vibrant meals of pepperpot and fungee. Beach bar hopping on the south coast. Endless serenity in Barbuda.  Travelers keep flocking to […]


Related Posts avianca caribbean nonstop

Avianca Just Restarted Two Nonstop Flights to Cartagena 

The colorful colonial buildings, the boutique hotels, the art galleries, the creative cuisine.  They’re all part of the reason why Cartagena has been one of the fastest-growing destinations in the Caribbean basin in recent years, repositioning Colombia as a Caribbean […]


Virtuoso Has a New Caribbean Island

moskito

Leading travel advisor network has a major new Caribbean destination, Caribbean Travel Advisor has learned. A top private-island resort in the Caribbean has joined the Virtuoso travel network, Caribbean Travel Advisor has learned.  The Virtuoso network includes more than 2,300 […]


At Atlantis Paradise Island, A Barbie Beach Vacation in The Bahamas

atlantis barbie

It’s right on the beach, with sparkling views of the sea, copious aquatic creatures, infinite bathing suits and even its own special shade of pink.  Atlantis Paradise Island isn’t a Malibu dream house, but the legendary Bahamian resort has temporarily […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You