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| Employees of Morning Star Holdings/Meridian Trust Company, platinum sponsor for the week of activities enjoying their award, with General Manager Ernie Dover (2nd from right) and Premier Amory (1st from right) smiling as they looked at the employees. |
Charlestown Nevis (August 24, 2004) Twenty individuals and two business entities, namely the Bank of Nevis International and Morning Star Holdings/Meridian Trust Company, on Monday August 23 were honoured for their sterling contribution to the development of the offshore industry during a recognition ceremony held at the Mount Nevis Hotel.
The ceremony, which took place as part of the official launch of the Nevis Financial Services (NFS) Awareness Week of activities, saw the honourees receiving their plaques and tokens of appreciation from the Nevis Financial Services Division in the Nevis Island Administration. Some of the awardees were Premier Vance Amory, former Premier of Nevis, the Hon Dr Simeon Daniel, the Hon Joseph Parry and Dr Agatha Jeffers-Gooden.
Premier of Nevis, the Hon Mr. Vance Amory, in delivering brief remarks said, “We can say, without any contradiction, that we have had a very successful twenty years even with the hiccups, which we have had over the years.”
While congratulating the financial services sector, Premier Amory recalls persons who played a significant role in bringing the initial idea to the then Premier of Nevis, the Hon Dr Simeon Daniel. He also paid tribute to Dr Daniel for grasping the idea, although the only exposure to the idea then, was through the media that gave negative reviews.
As Minister of Finance, Amory observed, “We have come a long way from one registered agent to more than fifty persons providing service in the industry. We’ve come from a long way, when in 1993, the revenue which was contributed directly to government, was about $400,000. We have gone beyond that to approximately $10 million contributed directly to the revenue of the country.”
“In addition to that, the number of persons who have been employed in the industry has gone far beyond our wildest dreams in 1984, and the economic effect which this industry has had, in terms of the impact on the economy is tremendous and obvious for all to see.”
According to the Minister of Finance, it was his belief that the people of Nevis can feel a sense of confidence and comfort, adding, “even with tourism and with the offshore financial services, we have seen the transformation of our island home, our island economy. Let me say, baring any serious negative activity, this industry will continue to grow and will continue to prosper,” Premier Amory expressed.
Permanent Secretary in the Ministry of Finance, Mr. Laurie Lawrence also gave brief remarks as he extended congratulations to the stalwarts of the industry as he looked into the future.
He said, “There is no doubt that the investment in this sector has derived very high economic, social and financial returns for Nevis. As a result of the direct benefit to the economy and the aggressive public relations program pursued by the Marketing Department over the last five years, we have raised the level of consciousness of our people about the importance of this vital sector.”
He admonished all to not forget the future when they are reflecting on the past. “As we celebrate the 20th anniversary throughout this week, I hope that we can establish a framework for the future development of the offshore sector with the input of all stakeholders,” said Lawrence. “The success of this sector would depend on the public and private sectors working in partnership to advance our mutual interest.”
Mr. Ernie Dover, General Manager of Morning Star Holdings and Meridian Trust, not only gave brief remarks but also made a presentation to the Ministry of Finance. He commended the offshore sector for the many hurdles it had overcome and compared it to the rest of the islands in the OECS.
He said, “I could be wrong, but I do believe that Nevis now has the strongest financial services industry in the OECS region, because we have grown properly, we have regulated properly and we are here to stay.”
The week of awareness runs from August 23 to 27 under the theme, “Celebrating the 20th Anniversary of our International Financial Service Industry: Reflecting on our past and going forward strong!”
Other activities include the 2nd International Financial Services Industry Conference on 26 & 27 and a Financial Awareness Forum on the topic, “Financial Independence for You, Your Family and Your Country”.
