Investors who establish new businesses in the British Virgin Islands will soon be required to grant their company’s senior management positions to BVIslanders/Belongers.
Premier Andrew Fahie said this will be done through changes to the territory’s existing Labour and Immigration laws.
He made the remarks during a community meeting in the Valley on Virgin Gorda last Thursday.
He said: “We have some new investment programmes coming and we are going to welcome investors. But we also made something clear today in Cabinet that it ain’t going to be the old-time investing.”
“They have to make sure — and we have to make sure through Labour reform and Immigration reform — that the senior posts when you come to invest, your company going to have our people in those senior posts.”
Premier Fahie said this will be part of the investor’s contribution to the territory.
“So once you come, we are going to give you some incentives, but you are going to give us some major things too.”
The Premier did not specify what incentives government will give in return but said the reform strategy is part of building the locals to ensure the territory “will always be strong”.
The Premier’s announcement of the reform comes amid years of complaints that top government positions such as the Commissioner of Police, Attorney General and Director of Public Prosecution are held by non-locals.
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