Investor confidence still high despite COI, Premier boasts
Premier Dr Natalio Wheatley
Premier Dr Natalio Wheatley has argued that investor confidence in the BVI remains strong despite concerns that the 2022 Commission of Inquiry (COI) in the British Virgin Islands may have damaged the territory’s reputation.
“Investment confidence is extremely high, which is something we can be proud of, especially following a COI,” Dr Wheatley stated recently in an interview with ZBVI Radio.
The Premier suggested that the level of investment seen since the inquiry is unusual, arguing that jurisdictions emerging from similar investigations often struggle to attract investors.
“Most other countries, you have a COI and investors run away from you. We have investors flocking to us,” Dr Wheatley said. To support his claim, the Premier pointed to several major tourism-related developments, saying investors continue to see opportunities in the Virgin Islands.
He listed Nanny Cay Resort & Marina, Biras Creek Resort and Bitter End Yacht Club as developments that demonstrate continued confidence in the territory’s economy.
“Nanny Cay is doing a huge $40 million expansion. Biras Creek, Bitter End. I mean, a whole bunch of places have chosen to continue investing in the BVI,” Dr Wheatley said.
The Premier also highlighted record-breaking tourism arrivals during the current administration, noting that the territory has welcomed more visitors over the last three years than at any other period in its history. He further credited the introduction of direct flights to the territory with helping to fuel growth in the tourism sector and encouraging further investment.
Dr Wheatley also hit back at his political detractors, saying the previous NDP government did not accomplish many of the things his government has.
“When they were in government, I saw them sitting on a plane that never took off. It never flew. But we delivered direct flights to the Virgin Islands, and it’s fuel in the tourism industry,” Premier Wheatley argued.
The leader’s comments come amid persistent criticism from opposition figures and other commentators who argue that the Dr Wheatley administration has not done enough to aggressively pursue foreign direct investment opportunities in the way some neighbouring Caribbean territories have.
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Nah Man! That is far from the truth. Election season getting hotter! Show us any form of commercial investment from an outsider!!
Premier Dr Natalio Wheatley has argued that investor confidence in the BVI remains strong despite concerns that the 2022 Commission of Inquiry (COI) in the British Virgin Islands may have damaged the territory’s reputation. What investors should worry about is how the British Virgin Islands will be like if it became independent because it will be a different BVI not in a good way.
Investor confidence may be high but the confidence of voters is extremely low. VIP must go!
Bitter End, BirasCreek, has always been a part of our family, in VG nothing New here. Lets hear about New comers don’t try to fool us
Investors confidence is not high. And it is not COI that is the problem. it is the reason that there is any confidence at all
The Government has worked so hard to take all the good out of the COI we have not been able to progress at all.
All of the efforts of the Government has been to thwart the changes that were shown to be necessary.
They pride themselves on having resisted the changes, and that is not a thing to be proud of.
VI had a chance to go forward. Change its ways and thinking but our corrupt politicians like it the way it was.
They like what is good for them and their pockets and care nothing for the place or the people.
LOOK AT THE STATE OF THE ISLAND, 3rd WORLD REFERENCES ARE AN INSULT TO THE 3RD WORLD!
THIS PLACE IS A DUMP!
…You still cannot recruit professionals because of the stupid processes, so businesses and the Territory lose out on the economic and other benefits of having expertise on island.