Beautiful Virgin Islands

Saturday, Jul 26, 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
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×