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Consumer protection will open doors for VI- Premier Fahie

- says new bill will drive local economy in unimaginable ways
Premier and Minister of Finance, Hon Andrew A. Fahie (R1) said the Consumer Protection Bill, currently before a Select Committee of the House of Assembly, will open doors for the Virgin Islands (VI) and assured that better days are coming for the territory. Photo: VINO/File
The Premier said the Consumer Protection Bill gives protection from consumer abuse in the private sector and will go before a Select Committee to finalize more policies. Photo: Internet Source
The Premier said the Consumer Protection Bill gives protection from consumer abuse in the private sector and will go before a Select Committee to finalize more policies. Photo: Internet Source
ROAD TOWN, Tortola, VI – Crediting Opposition Leader, Hon Marlon A. Penn (R8) for his hard work and dedication that went into the Consumer Protection Bill, Premier and Minister of Finance, Hon Andrew A. Fahie (R1) said the bill will open doors for the Virgin Islands (VI) and assured that better days are coming for the territory.

The Premier was at the time speaking at the Sixth Sitting of the First Session of the Fourth House of Assembly (HoA) on July 31, 2019, ahead of the emancipation festival celebrations in the VI.

Giving life to Lazarus

“We will give life to Lazarus,” Premier Fahie told the House in highlighting the significance of the bill to revitalising the VI’s economy—post-hurricane Irma and Maria—even as the territory is still grappling with rebuilding efforts.

Hon Fahie said the bill gives protection from consumer abuse in the private sector and will go before a Select Committee to finalise more policies.

“This is what is going to drive the new economy of the Virgin Islands, this [is] going to open doors beyond our imagination… we are as a government encouraging so much investment quietly, we aint toot our horns yet because we want to make sure they put the shovel in the ground,” the Leader of Government Business told the HoA.  

Further he said, in the upcoming months, land-based tourism will be the focus. “Major hotels are going to be opening and be re-opening, the people of this Virgin Islands going to be shocked to see what is it we here working on in the back,” he said.

Job creation in focus 

Additionally, Premier Fahie underscored the importance of job creation to his administration and that his Government will not allow employers to recruit labour from overseas "and our people don’t have work,” he warned investors.

He said the formula when it comes to creating jobs in the territory is the more people you train and put to work, the more money you keep in your pocket, the more families get to eat.” 

Noting that the the money will be flowing so much, the premier said people will be at money transfer agencies and banks sending moneis out in droves.  

Hon Fahie noted that a new fee will be added to money transfers to aid in development areas such as education, infrastructure, the Consolidated Fund and entrepreneurship through new legislation. He said the aim is not to discourage spending, but rather to make sure everyone wins.

3 Responses to “Consumer protection will open doors for VI- Premier Fahie”

  • How now (08/08/2019, 09:36) Like (2) Dislike (0) Reply
    The first thing that needs to be addressed by the new regulator under the consumer protection bill is the policy of protectionism (in respect of existing business) operated by the Trade dept in granting new trade licenses.
    The restrictive policy encourages poor customer service and high prices from BVI businesses - a more liberal policy would encourage competition, make existing business be more service orientated and cost effective (put the inefficient ones into bankruptcy) and lower prices for everybody in the BVI.
    Hopefully the days of protecting locally owned monopolies will disappear.
    It’s time to introduce competition to the “rip off price” local businesses.
  • facts (08/08/2019, 09:45) Like (11) Dislike (2) Reply
    The NDP did not have the balls to pass this law


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