Beautiful Virgin Islands

Sunday, Sep 14, 2025

Long overdue Consumer Protection Act to be implemented next year

Long overdue Consumer Protection Act to be implemented next year

Premier and Minister of Finance Hon. Andrew A. Fahie has promised to have the Consumer Protection Act 2020 come into effect in 2022.

The Act is expected to be a “game-changer” for businesses and consumers. It aims to safeguard the interests of the customer from price manipulation and from the business side, the Act will ensure that prices for goods and services are displayed, deceptive representations are banned among other accountability practices.

There will also be the establishment of a regulatory body, the Virgin Islands Trade Commission, that will be tasked to enforce the Consumer Protection Act, relating to fair trade practices.

Premier and Minister of Finance, Hon Andrew A. Fahie  said in order to support and stimulate the expansion of the private sector, the VI Government will be equipping the Virgin Islands Trade Commission in 2022 to tackle its mandate of fostering trade and developing the business environment.


Training locals to be entrepreneurs


“Mr Speaker, in order to support and stimulate the expansion of our private sector, your Government will be equipping the Virgin Islands Trade Commission in 2022 to tackle its mandate of fostering trade and developing the business environment,” Premier Fahie said during the budget presentation at the Save the Seed Energy Centre on Thursday, November 11, 2021.

“This latter function includes looking at areas of opportunities for citizens, encouraging investments, creating new industries while bolstering existing ones, and leveraging existing Virgin Islands assets in cooperation with other agencies with respect to the Green, Blue and Digital economy. Mr Speaker, this will also include training our people and getting them ready to be entrepreneurs.”

Premier Fahie added, that through new legislation, such as the Virgin Islands Investment Act 2021 and the Business Act 2021, and a new regime, every investor whether Belonger or non-Belonger, will know what to expect when investing in the Virgin Islands.

The Virgin Islands Trade Commission will also provide the institutional structure for implementation of the Consumer Protection Act, which is long overdue and which has been passed by this Honourable House and will be implemented in 2022,” he promised.

Commission Will be fully functional in few years


The Trade Commission was launched on February 23, 2021, but it will not become a fully-functioning entity for the next couple of years.

Premier Fahie said the Commission been a long time coming and that the launching marks the dawn of a new day in the Virgin Islands as its people continue to chart their way forward towards realising a long-awaited vision. "A vision for prosperity, for the Virgin Islands to be developed as a smart economy that is resilient, and sustainable.”

He continued that it is expected that the overall restructuring and transitioning of the Virgin Islands Trade Commission into a fully functioning statutory body will take a period of between three to five years. "Remember we still have plenty more legislation to be passed through the House of Assembly.”

The Premier further said that, with the coordinated efforts of all the public and private sectors, government will be able to make the strides that are necessary towards its vision for the future prosperity of the territory.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Court Staff Cover Up Banksy Image of Judge Beating a Protester
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
Elon Musk Poised to Become First Trillionaire Under Ambitious Tesla Pay Plan
France, at an Impasse, Heads Toward Another Government Collapse
Burning the Minister’s House Helped Protesters to Win Justice: Prabowo Fires Finance Minister in Wake of Indonesia Protests
Brazil Braces for Fallout from Bolsonaro Trial by corrupted judge
The Country That Got Too Rich? Public Spending Dominates Norway Election
Nearly 40 Years Later: Nike Changes the Legendary Slogan Just Do It
×