07 April 2008FSC Ends Successful Roadshow
GISVirgin Islands Delegation Ends Successful Dubai Roadshow
A British Virgin Islands delegation, which included representatives from Government and the private sector, has ended a successful road show in Dubai. The March 30-31 event formed part of the delegation’s inaugural fact-finding mission to the region’s financial capital.
It featured a series of business development meetings with senior officials from the Dubai International Financial Centre and the Dubai Financial Services Authority. Those meetings were followed by a private afternoon seminar entitled “Opportunities for Growth in Financial Services.” Other activities included a cocktail reception at the iconic Burj Al Arab where over 100 delegates were briefed about new developments and opportunities in the British Virgin Islands corporate, investment, and trusts sectors.
Speakers included Martin Mann QC, Managing Director and Chief Executive Officer of the BVI Financial Services Commission Mr. Robert Mathavious and Director of the BVI International Finance Centre (BVIIFC) Mrs. Lorna Smith. 
They were joined by some of the Territory’s top financial services practitioners in providing the meetings’ delegates with an update on the BVI’s regulatory environment, legislation, and current trends in trust and corporate business.
Practitioners included Christopher McKenzie from Walkers BVI, Vanessa King, a partner at O’Neal Webster, along with other speakers who were joined by their Dubai counterparts from Trident Trust, Conyers Dill & Pearman, Swiss International Consultants and Maples and Calder.
The Director of the BVIIFC, who also headed the Dubai delegation, said the trip was significant for the British Virgin Islands delegation. “We are honoured to have been made to feel so welcome in Dubai, which has so quickly become a major financial hub in the Middle East and Asian region,” she said.“We met with key officials from the Dubai International Financial Centre and the Dubai Financial Services Authority who gave us a tremendous insight into the region and how we may work together in upcoming partnerships. We will certainly return to the region and hope also to be able to host our friends from Dubai on a similar fact-finding mission to the British Virgin Islands,” Mrs. Smith noted.
While in Dubai, Fifth District Representative Honourable Elvis J. Harrigan, took the opportunity to visit that country’s Ministry of Education where he and Permanent Secretary in the Premier’s Office Mrs Rosalie Adams met with Dubai’s Director of Policy and Planning Dr. Vincent Ferrandino. Members of the British Virgin Islands delegation held similar meetings in Qatar from April 2-3. The BVI International Finance Centre continues to play a significant role in promoting the Territory a leading financial centre. Established in 2002 as part of the Government’s commitment to support the financial services industry, the aim of the IFC is to give a voice to the BVI’s financial sector.
The BVIIFC is committed to ensuring that the Virgin Islands retain the unique balance it has created in having a sound regulatory framework, an entrepreneurial business community, and a government that is committed to developing innovative legislation. The Centre’s launch marked the final stage in Government’s plans to separate the marketing and regulatory functions of the Territory’s financial services industry. Financial regulation is now the sole responsibility of the BVI Financial Services Commission, which was also created in 2002.
Oyster Publications Inc, PO box 3369, Road Town Tortola, British Virgin Islands, VG1110