A new study that will give the BVI a clearer indication of the pros and cons associated with doing business in Africa is being conducted.
“[The] independent report is expected shortly [and] will further highlight how International Financial Centres support foreign investment into Africa,” said Finance Minister, Premier Dr D Orlando Smith, who did not specify the entity conducting the study.
“We must continue to engage stakeholders in the marketplace, discuss challenges, and seek out opportunities to diversify our brand,” he added.
He also endorsed a continued partnership between government and the local private sector to explore and generate business opportunities in financial services on the African continent.
BVI Finance had planned a November trade mission to Africa but the mission was pushed to the first quarter of next year.
The trip has been shelved so the territory can focus on the European Union’s (EU) upcoming assessment of the BVI’s finance centre’s.
The BVI has until December to adopt a number of legislative changes to remain off the EU’s blacklist of tax havens.
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