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'If Financial Services go down, we all go down'- Premier Wheatley
The Premier participated in a roundtable discussion focusing on the industry. This roundtable provided a valuable opportunity to connect with key stakeholders and partners from the Asia-Pacific region to explore emerging opportunities, share insights, and discuss the future of financial services.
Premier Wheatley, speaking with Acting Director of Communications Mrs Kaira J. Christopher, said he was “grateful” to have Hon Lorna G. Smith, OBE (AL) as part of the delegation in Asia. Hon Smith was Director of BVI’s International Financial Centre when the BVI Hong Kong Office was opened about 10 years ago.
We have to be united on financial services matters- Premier
Meantime, the Premier's unified approach to financial services matters is necessary for its longevity.
“If Financial Services goes down, we all go down, so all of us have to be committed to the success of Financial Services. We’re hopeful as well that all the people back home also get the message that…we all have to be united on Financial Services matters; it’s too important to play politics with, it’s extremely important,” he said.
Legislation, he added, has to be passed to safeguard the financial services industry.
“It’s important that we show unity,” the Premier said.
It was on February 11, 2025, that the newly formed Alliance attempted to block a House of Assembly sitting that was called to especially address critical legislation for the financial services industry.
The financial services industry, one of the two pillars of the economy, contributes about 60% of Government’s revenue. Fifty-seven percent of the VI's business originates from China and the Asia Pacific region, while another 20 per cent comes from Latin America and the Caribbean, according to a Pragmatix report in 2024.
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14 Responses to “'If Financial Services go down, we all go down'- Premier Wheatley”
As I see it, only small money holders will
But as for the rich and well to do, they will survived, but not the vast majority of B.V.I citizens.
Stop mismaging our financial well-being.
Stop wasting our well needed money on Music (sick amusing) Fest. Stop many other countries people better able to survive hardship the we, Premier. Stop doing that.
Stop spending our money on radom ventures at our expense, but not your and your hand picked VIP supporters, Guyanan's colleagues, and others that are living among us.
Most of the. Are only here to get what the can. If they are not able to get what they lusting for, they most of them will surely go somewhere else to ensure survival, if possible.
You had you chance. You can't managed efficiently the B.V.I complex problems. They are much bigger than you and your cabinet members. Only God knows how to. However, I truly believe that the opposition leader, not want to be Hon. Myron Walwyn, but Hon. Ronnie Skelton, even though he too cannot manage the B.V.I financial complexities perfectly.
Yes, we do need to hold on to Financial Service. It is a strong pillar of physical strength for us, especially so in a time like this as financial pressure is causing fear in the heart of nations and people's globally.
Paint doom and gloom?