Premier wants private sector to take bigger role in driving economy
Premier Dr Natalio Wheatley has called on the private sector to play a greater role in the BVI’s economic development, arguing that the government cannot move the economy forward alone.
“The government cannot take sole responsibility for moving the economy… for too many years, it’s expected that the government has to drive the economy. The private sector has to play a larger role in driving the economy. It can’t be the government alone,” Premier Wheatley said.
Dr Wheatley said this was part of the problem of where the territory is right now and praised some investors for taking risks on the economy and creating opportunities for others.
He commended JOMA Properties for recognising tourism as a worthwhile investment after the company signed a development agreement with the government to construct a 65-room boutique hotel and upgrade marina facilities in Port Purcell.
The new project, which also includes a restaurant, bar, retail shop, and fitness centre, represents a considerable investment in the BVI’s economy and is poised to transform the current industrial area into a vibrant, attractive location.
The initiative is expected to boost the local economy by creating jobs, both during and post-construction, and enhancing the BVI’s tourism offerings.
The Premier also praised James Todman for his efforts in developing the Huntums Ghut area and called on other investors to make similar contributions to the territory.
“We need some other persons who are investors, some of our heavyweights, some of our local investors, along with foreign investors – we accept foreign investors as well – to be able to go ahead, take that risk, make the investment in our tourism sector,” the Premier said.
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if you had focus on emulating what mr stoutt , did and leave the free jamz for when we can afford it , it will be very helpful in guiding us to a higher level, respectfully
Nobody seriously thinks that the Government should be responsible for moving the economy forward – what they need to do is to stop preventing it from moving forward will silly rules, inept administration, and delays in granting trade licences, work permits etc.
Then grant Trade Licences and work permits. It is Government holding things back.
Lots of tech businesses making enquiries about starting operations in the BVI, but they run when they find out the reality of trade licences and work permits. Government has to make it easier for them.
My God! This double-talking Janus! You have done nothing but marginalize and sideline the very sector that is the life blood of our economy, and you have the audacity to speak those words to those businesses you’ve crushed?! You and your government hate the private sector, you believe money grows on trees and you willfully spend it like nothing is wrong, and assuming that all monies will be magically replaced to spend all over again! You are without a doubt the WORST PREMIER THE BVI HAS EVER HAD!
We elect people that have no experience, people that have built nothing, and then wonder why they build nothing, why they cannot balance a budget, why they cannot improve schools, infrastructure, or do anything! They sit where they are only because they can talk sweet, give us endless promises, and maybe even offer a free t-shirt!
WHEN DOES THIS STOP BVI?
If you want support from us you need to clean out Labour and Immigration making it easier to hire the help we need to expand our businesses.
Get the Territory cleaned up, fix the roads, stop your senseless spending on things that don’t support business, reduce Government spending and become more business like and business will support you.
AND YOUR DEPARTMENT TOWN & COUNTRY PLANNING GOT US HELD UP WITH BUREAUCRACY?
WHY HE DONT SAY THAT HE HASN’T A CLUE OF WHAT TO DO?
Who driving it right now government?
You just don’t ask people to spend their money, you have to give them incentives to do so. Is the BVI a business friendly place? That is where your head should be. My lord what have we done!
Sensible investors require stable honest government and local high quality infrastructure to balance risk of profit vs failure, I’m afraid we have neither .
I have said this before years gone by: In my experience, the BVI is not a business friendly place.
Any business considering doing business here especially on a large scale whereby experienced and technical hire is required needs to think twice before they pluck down million of dollars.
What’s are the problems?
Government interferences is the major problem that I see. Specifically the policies at Labor and Immigration that makes it difficult for a company to hire who they wish and retain them.
I have no problem with hiring qualified locals to do a job. I have a problem when I can’t find that locally qualified person, and Immigration and Labor makes it difficult for me to hire someone outside the BVI.
These policies are handicapping and interferes with the management, growth, and running of what so pose to be private companies.
A business cannot be ran properly if government is dictating indirectly who it can hire and fire.
So, until there are changes in Labor and Immigration, It’s a hard NO for me.
I do not expect the government’s posture to change as the electorate would not let them.
If any politician in this country voice support for outside investors, they will be automatically labelled as selling out the country.
There is a way to have policies that encourages the hiring of local talent without impinging on the functioning of private businesses.
There is a way to have foreign investment without selling out the country so to speak. The government and we as a people just have to figure that out. Once we do, meaningful changes can be realized in the economy.
So as much as I love this country, I could not deal with the frustration and headache of Labor and Immigration. I just don’t have the energy for it.
I want to be able to spend most of my time running my business and making money, not fighting with government officials over my staffing needs.
Our country is looking the way it is right now not only because of poor government financial mismanagement, but also because of having elected leaders many of whom don’t have a vision for this country. They can’t see the forest through the trees.
Our country is in this state also because the country doesn’t have the cash it needs to do the basic such as maintaining functioning roads. Those in charge are lacking what it takes to grow the economy.
All they can think about when they need money is to raid the Social Security fund yet again.
That’s no way to run a country….raiding your retirees pension fund to conduct capital projects.
Maybe when people get more and more frustrated with the state of the country, and start electing people with knowledge of how to get things done…then maybe meaningful changes might come about.
In the interim, I anticipate this country’s economy will remain stagnant and the GDP will remain where it is has been for decade…flat.
How? When it takes 4 months to get a f**king permit for a skilled worker so you can actually OPERATE YOUR BUSINESS? These f**king loony tunes have completely lost it now.
The same private sector his government knocking about?
The Premier is typical of those who ascend to high political office but have NEVER worked in the dreaded private sector and have NEVER risked their own capital on an investment – totally clueless.
Simply remove yourself from public office…
Is this guy stupid? He is S!0w W@nde. Private sector is what drives an economy. Government doesn’t produce anything other than services for its people and at no profit. He needs to tell those spoiled by the delusion that government is the economy (including himself) that until you understand the role of government in a functional society we are doomed to ultimately fail
Can someone inform the young man that the private sector IS THE ONLY ECONOMY that is LEGITIMATELY sustaining the BVI and that this is almost supernatural and miraculous in a country where the government seems to be ABSOLUTELY clueless about anything that has to do with growing an economy. His appeal is extremely insulting every single time. The worst performing sectors of the country according to the CFATF report were the ones under the government. Can he focus on fixing that before the country gets blacklisted and then he won’t have an economy to talk about? Steupezzzz. No man!! The place is badly off.
I have been engaging in plenty of conversations with a lot of the locals and they are ready for the UK to step in and do what they have to do. We cannot continue living like this. We were given enough rope and the rope is about to reach its end.
PURE SYSTEMIC INCOMPETENCE.
The private sector is the economy you retard. You are the gateway for them to play.