Premier Smith sees success in combating attack on Financial Services
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”