Road Town, Tortola - Director of the BVI London Office Mr. Kedrick Malone recently met with the BVI London Circle of Business Leaders to discuss a presentation on behalf of the International Finance Centre (IFC) on current political developments in the United Kingdom and Europe.
Discussion also focussed on the London Office 2010 Work Programme and the potential growth areas for business in the financial sector of the Virgin Islands.
“The BVI London Circle is a valuable means to contact the business community in London and our office acts as a conduit through which potential opportunities and issues can be raised directly,” Mr. Malone said.
Following the presentation Mr. Malone said, “We were able to discuss the repercussions of the United Kingdom’s general election results for the BVI and the role of the London Office in communicating any concerns or objectives to Her Majesty’s Government and the European Union Commission through our position on the Executive Committee of the Overseas Countries and Territories Association (OCTA) of the European Union.”
He added, “In particular, following this meeting we will be pursuing meetings regarding the proposed directive on hedge funds to ensure that BVI benefits from any third country ‘passporting’ criteria to the EU market and we will be reporting back to London Circle members on developments.”
At the May meeting members of the circle expressed a positive outlook for the BVI and welcomed the two-way flow of information and update on BVI initiatives.
Executive Director of the BVI International Finance Centre Ms. Sherri Ortiz said, “The International Finance Centre is committed to supporting the industry as it looks to build business in the BVI. The Government believes that the industry remains strong and this meeting with the London Circle was an opportunity to discuss how we can achieve greater diversification as we grow the existing trust and fund sectors.”
Ms. Ortiz continued, “We are particularly pleased to hear of the feedback from the London Circle that the BVI’s involvement in the trade conference in Sao Paulo was a useful promotional opportunity. We will continue to use our marketing and political contacts to the BVI’s best advantage.”
The meeting also focussed on assisting UK-based BVI law students to obtain internships which can help them to become more marketable. Students are therefore encouraged to submit their curriculum vitae to the BVI London Office for inclusion in a database which will be made available to UK companies.
The BVI London Circle was formed in 2004 and works closely with the London Office and the IFC to promote the Territory’s interest in matters relating to financial services and tourism, among others. They represent the Virgin Islands at networking events, conferences and seminars and provide feedback and advice on relevant issues.
Opened in 1992, the BVI London Office serves as the Territory’s focal point in the United Kingdom and Europe on matters related to Virgin Islands socio-economic and political interests. The office promotes BVI business, provides diplomatic representation on behalf of the Territory and strengthens the voice of the Virgin Islands with the United Kingdom Government and other international partners. The BVI London Office falls under the portfolio of the Premier’s Office and its director is the United Kingdom’s representative of the Virgin Islands.
British Virgin Islands News