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Premier Smith sees success in combating attack on Financial Services

Premier Dr The Hon. D. Orlando Smith has claimed success in combating negative comments raised about the Financial Services sector in the Territory in the wake of an effective public relations campaign. Photo: VINO/File
While speaking in the House of Assembly (HOA) yesterday, July 9, 2013 about some of the issues raised in his Territorial address issued on July 5, 2013, Dr Smith referred to strides made in suppressing the negative feedback brought on by an attack on the Territory’s Financial Services sector recently. Photo: VINO/File
While speaking in the House of Assembly (HOA) yesterday, July 9, 2013 about some of the issues raised in his Territorial address issued on July 5, 2013, Dr Smith referred to strides made in suppressing the negative feedback brought on by an attack on the Territory’s Financial Services sector recently. Photo: VINO/File
ROAD TOWN, Tortola, VI – Premier Dr The Hon. D. Orlando Smith has claimed success in combating negative comments raised about the Financial Services sector in the Territory in the wake of an effective public relations campaign.

While speaking in the House of Assembly (HOA) yesterday, July 9, 2013 about some of the issues raised in his Territorial address issued on July 5, 2013, Dr Smith referred to strides made in suppressing the negative feedback brought on by an attack on the Territory’s Financial Services sector recently.

In referring to the situation in the Financial Services sector during his speech in the HOA yesterday, Premier Smith said, “I observed that, as everyone knows by now after listening to my address, that there have been in the past several months quite a few negative comments on the Financial Services Sector in the BVI and also in other OTs [Overseas Territories].”

Premier Smith said that along with other colleagues and members of his administration, he has been making strong efforts to counteract the negative press that has been out there.

“I must say Madam Speaker, that I think we have been successful so far and the negative stories have diminished considerably,” Premier Smith said.

He added that while it is possible that all the activity may have caused “some effect” on the Financial Services industry, at the moment he was pleased to observe that there was very little or no substantial effect as a result of the negative acts.

“We’re not sure what will happen later on but we will continue to do our public relations to make sure that everybody, including those who are interested in use of our financial services structures, are aware that the British Virgin Islands continues to be open for business in the financial services sector,” Premier Smith remarked.

He also said that the sector continues to be well regulated and those interested in using the structure were welcome to do so.

Premier Smith had roundly condemned the ‘unlawful’ publication of financial services material in the international media first made public by the UK Guardian in April, 2013 through a group referred to as the International Consortium of Investigative Journalists (ICIJ).

6 Responses to “Premier Smith sees success in combating attack on Financial Services”

  • james (10/07/2013, 08:23) Like (1) Dislike (0) Reply
    Tell them Doc. The BVI will never bow to any colonialism. Nonetheless the EU will continue to pressure us because they feel threathened by what the BVI and the other OTs have achieved over the past decades.
  • john public (10/07/2013, 09:49) Like (10) Dislike (0) Reply
    I've lost confidence in this man.
  • Truth (10/07/2013, 10:48) Like (0) Dislike (0) Reply
    The funny thing is both political parties while forming successive governments gave Big Mach the power to run rings around them
  • mary j (10/07/2013, 16:18) Like (13) Dislike (0) Reply
    not a soul want to hear from Dr. smith is sad
  • Des (11/07/2013, 09:18) Like (0) Dislike (0) Reply
    All this is just another round of political posturing and hypocrisy.
  • where (13/07/2013, 09:51) Like (0) Dislike (0) Reply
    Poor child Dr Smith doesn’t even know a contraction in GDP is a recession...where is the FS?


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