CONTRIBUTORS
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“FDI has become the major economic driver of globalisation, accounting for over half of all cross border investments. Companies are rapidly globalising through FDI to access and serve new markets and customers, map out their value chains in the most efficient locations globally, and to access technological and natural resources. In other words, FDI fuels growth of Multinational Enterprises (MNEs) and promotes development in the emerging markets.” GREG BOYD’s articleThe BVI: Corporate Evolution Serving Global Commerce p.56, effectively explains the significant role the BVI plays in global cross border investment. Greg is a Partner at Harneys and he works with many of the world’s leading lawyers, bankers, private equity firms and accountants on cross-border joint ventures, mergers and acquisitions, corporate reorganizations and stock exchange listings.
Ten Years of Real Estate Development in the BVI p.80 “In writing the real estate article each year, I have been aware how tumultuous the market has been, from the first article for the 2009 edition, written just as Lehman Brothers went under in September 2008 and the economy crashed in reaction to the sub-prime mortgage debacle, through the depths of the recession in 2011 and 2012, before finally emerging with a shaky recovery in 2013 and 2014. Understanding the cyclical nature of real estate in the BVI helps to give a better understanding of what the future may bring to this industry.” EDWARD CHILDS’ annual outlook for the real estate sector is perhaps the most anticipated piece in Business BVI, by both locals and visitors alike. It has become a definitive guide about what is taking place in the real estate space in the territory.
Our Fast Facts Guide p.118 is intended to provide top of mind data about the BVI, its economy and doing business in the territory. We rely on PATLIAN JOHNSON to ensure we are current. Patlian is the Deputy Financial Secretary, Ministry of Finance, Government of the Virgin Islands with responsibility for Economic Development and Fiscal Affairs. Ms. Johnson holds a Masters of Science Degree in Economics and Finance from the University of Bristol.
Freeman contributes to two interviews in this edition: 1. An Interview with John Beechey, Chairman of the Board of the newly established BVI International Arbitration Centre p.124 our second interview for our new section OVER&OUT. Beechey brings extensive credentials to the chairmanship. 2. Preparing our Students to be Global Citizens p.44 an interview with the Hon. Myron Walwyn, the Minister of Education, who is on his second tour of duty as Minister of Education. “The crisis of 2008 has essentially placed a premium on competence, so we must make sure that the product – because we’re producing a product in the education system for the business community – is of high quality.” FREEMAN ROGERS is the editor of the The BVI Beacon.
KEN SILVA is the Business Editor of The BVI Beacon. He was born and raised in Cleveland, Ohio, and has been living in the BVI for the last two years. His work has appeared in Yahoo News, Reason Magazine, and the Caribbean Digital Network. Making his first contribution to Business BVI CTL: Stepping up its Game p.42, Ken introduces us to the BVI’s first megastore, speaking to the owners about the challenges inherent in taking their game to this level and the quality of service that local consumers can look forward to.
“The question on everyone’s mind in the prevailing climate is: will ‘offshore’ remain relevant? The answer from several sources including Robert Briant of Conyers, Dill and Pearman is a resounding yes. Robert believes that the key to the BVI remaining relevant and continuing to be a global player depends on our ensuring transparency and effectively diversifying beyond incorporations. He further suggests that BVI relevance is dependent on parties from different jurisdictions, structuring their affairs in a neutral territory, the rule of law not fully prevailing in certain places requiring persons to establish offshore companies and the BVI continuing to maintain the well-regulated jurisdiction that it is.” LORNA SMITH is synonymous with financial services in the BVI. She Chairs the Cabinet appointed Financial Services Business Development Committee and is the CEO of LGS Associates. In Beyond McKinsey p.62, Lorna provides a deep dive into what the implementation of the McKinsey study means for the BVI.
January 2016 Edition