Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Fahie Challenges Opposition: Bring Your Plans For Financial Services

Fahie Challenges Opposition: Bring Your Plans For Financial Services

Premier and Minister for Finance Hon. Andrew Fahie says he wants to work with the Opposition Leader, Hon. Marlon Penn to avoid the Territory's financial services industry being blacklisted.
The BVI Leader disclosed that government has gotten in front of the matter with the passage of a suite of legislation and he stated that the plan is to start 2020 off in prayer as the Territory readies for a series of evaluations.

The Premier made the disclosure during the debate of the BVI Business Companies (Amendment) Act, 2019, which featured amendments to the principle Act.

The main purpose of the legislation was to provide for provisions the registration of directors of BVI businesses. The Premier told the House that, that other pieces of legislation on the Order paper of the sitting were to ensure that the Territory remained compliant.

Hon. Fahie further told the House that once again the financial services goal post has shifted and the Territory is doing what it must to remain on the cutting edge.

Considering major matters are in the pipeline for the Territory’s main economic pillar, Hon. Fahie issued a challenge to the Opposition that they should bring any plan they have for discussion.

“I don’t want to preach any doom and gloom to the financial services because I believe in staying positive, but I also know that the only way to move forward is going to be diversifying the economy. I challenge the Opposition that is so caring, that were in the Government over the last 16 years to please bring me whatever plan they have so that we can move forward with it.”

The Premier explained that he will accept the Opposition’s request to meet and accept any good ideas put forward.

Hon. Fahie gave kudos to Hon. Penn who he said did work on some of the financial services bills that were before the House of Assembly.

“I thank him for the work that he’s done and we have continued to finish off the work.”

While noting that Hon. Penn saw what the industry needed a year ago, Hon. Fahie questioned why the previous administration did not pay attention to the now Leader of the Opposition’s proposals.

“Research shows that the Leader of the Opposition did some of those works… Some of those (bills) started in early 2018 and before…”

While directing his comments to Hon. Penn, the Premier said, “You did a lot of work back then.

The Premier added, "I could understand his dilemma because he saw the future but only he alone was seeing …and could not get it out …that is why I will bring you along to work with us, because one year and three months ago you went down the road seeing the future and it aint get your government to bring it to the future. Held up the future of the country for one year and three months.”

The Premier further lauded the legislation that were started by Hon. Penn and said that the Government will get them passed.

“Good things he had work on, solid things. We came in we recognized the effort, we did some adjustment…that was also in the plan that you were talking about Leader of the Opposition in the report. It’s part of the report, but if you saw that and you went to work on it and you were a Junior Minister at the time and they allowed you to work on it. What happened to the rest?"
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
×