Beautiful Virgin Islands

Saturday, Sep 06, 2025

BVI must beware of the 'Amazons' of the world- Hon Penn

Calls for protection of local business through a 'Fair-trade Legislation'

Ahead of the passing of the Virgin Islands 'Consumer Protection Act, 2020' last evening June 8, 2020, in the House of Assembly (HoA), Opposition Leader Hon Marlon A. Penn urged legislators to advance Fair-trade legislation with the aim of protecting local businesses.


'We have to ensure that there is a fair and levelled playing field in the consumer markets, in the business arena," he told legislators during the Eighth Sitting of the Second Session of the Fourth House of Assembly (HoA) at the Save the Seed Energy Centre in Duff's Bottom, Tortola.

With regards to the VI, Hon Penn said currently wholesalers are still competing with the retailers for the same market and selling the same products which can be uncompetitive.


Legislative Framework to protect businesses

"That can't lend itself to unfair competition, you need a legislative framework to be able to guard against that type of behaviour and ensuring that there is no unfair competitive advantage to persons who are trying to survive in the business market," he said.

He added that the United States, as big as its economy is, has measures in place to ensure businesses are protected in that economic environment.

"We in the BVI as a small economy, also have to be very careful... how we allow big businesses to come into our Territory, how we allow them to set up shop in the BVI and manage and understand the implications of those businesses operating within our economic environment," he said.


Watch out for big businesses - Hon Penn

Pointing to large global companies like Amazon, an online retailer, and its ability to use economies of scale to gain a competitive advantage over small business, Hon Penn said the Territory should be aware.

"We already have the advent of the Amazons of the world, and what Amazon has done in terms of its impact on small businesses functioning within an environment."

Hon Penn said the balance is not to restrict the free market from having variety, rather, examining the impacts that large companies can have on grassroot businesses that drive the economy.

He called for education of the population on how consumer behaviour can sometimes impact the local economy.

"We also have to help our businesses to step up their game as well to be able to be innovative, [and] to offer the variety," Hon Penn said.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×