20 July 2017News

BDA welcomes new PLP Government

In the wake of the victory of the Progressive Labour Party in Bermuda’s recent General Election, Bermuda’s Business Development Agency (BDA) has issued a statement welcoming the new administration, which is led by new Premier David Burt.

"The Bermuda Business Development Agency congratulates the Progressive Labour Party (PLP) on its victory in the 2017 general election,” said BDA CEO Ross Webber in the statement. “We extend a warm welcome to Premier David Burt, his Cabinet and the new PLP administration, and look forward to working together to achieve national economic priorities for the benefit of all Bermuda residents.

"Following a commissioned review by PwC in 2012, the BDA was conceived by a PLP government and sensibly continued by the OBA. We have established a tremendous platform providing an effective conduit between government, regulators and the private sector.

"Our agency has charted a clear path of active, cooperative business development, strongly supporting our entire business community to help retain and create jobs. Our mission empowers our economy. Indeed, feedback from the private sector is that we're providing Bermuda-based business with an essential jurisdictional partnership. We reaffirm that commitment to help established Bermuda companies draw investment here to flourish and grow. We are confident the incoming administration understands the value of the BDA's work and will commit the necessary resources to build on its achievements.

"Bermuda's political history has proven we can navigate through changes of government without disruption to the exemplary service we provide to our business sector. Our country continues to offer an appropriate taxation system, stable government, a conducive legal and regulatory environment, and a top-tier global reputation. The BDA will work with the government, regulators and private-sector stakeholders to ensure our vibrant market remains competitive and attractive, fuelling not only the IB sector, but also financial intermediaries and other service providers and ancillary businesses on the island.”

Webber concluded: “Our message to overseas investors is that Bermuda provides a reliable, well-regulated, safe harbour for business amid global disruption and uncertainty, and we will continue to do so. Bermuda is a unique, elite jurisdiction. Bermuda is different, and we should all be very proud of that legacy, and its future."