Trade Commission Act implementation to be suspended- VI Gov't
The Bill entitled the Virgin Islands Trade Commission Act (Suspensory) Act 2023 is expected to have its first, second, and third readings today at the Fifth Sitting of the First Session of the Fifth House of Assembly.
Minister Smith who has come under fire over the Trade Commission implementation, including from member of the Trade Commission Board Bishop John I. Cline, and Hon Marlon A. Penn (R8), explained her position to a local morning talk show last week.
She explained that significant funds are needed to set up the Trade Commission and this would increase the $750,000 that is required annually to run the Trade Department. Minister Smith noted that the Trade Commission will cost taxpayers some $1.5 million to operate.
Trade Commission too expensive- Hon Smith
Hon Smith stated that “a chairman and at least seven members and their salaries attached to them and a number of directors under them…I am not saying it would not happen, give me the opportunity to decide what is best for the Trade Department,” Smith stated.
Meanwhile, Hon Penn claimed that trade licenses given out since the Trade Commission Board was set up might be illegal; however, he has not provided any legal basis for such a statement.
Additionally, Board Member Bishop Cline has claimed that the Trade Commission is to help create investment opportunities both locally and internationally, and consumer affairs matters need to be addressed by the same Commission.
However, Hon Smith has asked for time to make “the best financial decision, for the people of the Virgin Islands, as establishing a Trade Commission right now would take away much-needed funds at a time when the whole territory is struggling with the high cost of living.”
The HoA sitting today is expected to be aired LIVE from 10:00 AM on the House of Assembly VI Youtube; House of Assembly of the Virgin Islands Facebook; 780 AM ZBVI Radio; CBN-Radio (90.9 FM); FLOW TV Channel 101; and CCT TV Channel 291.
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10 Responses to “Trade Commission Act implementation to be suspended- VI Gov't”
THIS SHOULD NOT BE A ONE MAN DECISION. LET'S MANAGE WITH INTEGRITY, TRANSPARENCE AND ACCOUNTABILITY NOW.
It is so 3rd world of Government controlling business.
Just make it law that every business must have an Ltd company, Gov gets its income that way and by ensuring every business registers for income tax.
Allow true business to succeed not this falsify or Trade licenses!
You don’t know what you are saying.