British Virgin Islands

Saturday, Dec 04, 2021

Premier to wrap up HoA debate on VI Investment Bill today

Premier to wrap up HoA debate on VI Investment Bill today

The Eleventh Sitting of the Third Session of the Fourth House of Assembly (HoA) of the Virgin Islands will continue today, August 23, 2021, at Save the Seed Energy Centre in Duff's Bottom, Tortola, where Premier and Minister of Finance Hon Andrew A. Fahie (R1) will wrap up the debate on the Virgin Islands Investment Act 2020.

Premier Fahie on August 19, 2021, had said the bill is another long-overdue piece of legislation and that it is needed to revolutionalise and modernise the way business is done in the Virgin Islands (VI) and to make the territory more competitive, secure and more attractive for business and investment.

The HoA Sitting is slated to start at 10:00am and will be carried live on CBN Radio 90.9 FM, CBN-Television Channel 101 on Flow TV and can also be followed on the HoA YoutTube channel and online at www.cbnvirginislands.com.

The Virgin Islands Investment Act 2020 will provide for the promotion of sustainable economic development and growth through the mobilisation and attraction of foreign and domestic investment to enhance economic development, reduce unemployment, accelerate growth and diversify the economy; to provide for reservation of certain economic sectors and business activities to certain categories of investors; to provide for dispute resolution mechanisms involving investment; and to provide for incidental matters, according to the gazetted bill.

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