Press Release
17 October 2016 - 4:12pm

The Asia Pacific Region remains a fundamental market for the British Virgin Islands as Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE concludes the first day of meetings during the BVI Asian Trade Mission.

Speaking on the achievements of the day Premier Smith said, "The first day on the ground in Hong Kong was extremely productive.  I took several opportunities to reinforce one of our key messages that BVI is the region's international business partner. It was encouraging to have been received with enthusiasm from both public sector officials and government practitioners.”

The Honourable Premier added, “This signals that BVI remains very welcomed in Hong Kong and China and this can only bode well for a continued fruitful relationship."

Premier Smith led his delegation in a number of meetings with both private sector and government officials during a full first day of meetings. Meetings began with discussions between the BVI Delegation and executives of Top Search International Holdings, a multi-disciplinary financial services group with expertise in insurance, asset management and banking. The group discussed developments in the global financial services industry, as well as developments within the BVI Financial Services Industry.

The delegation also met with Executives of the Bank of Asia BVI Limited to receive an update on the bank's progress. Executives reported that the bank is progressing well, and finalising its technology platform as well as firming up its timeline for roll out. The technology is expected to be demonstrated at tomorrow's Business BVI Asia conference. The launch of the bank is eagerly anticipated by practitioners in Hong Kong and the BVI.

Also on the first day of meetings, Premier Smith and the delegation received a warm welcome from the Chief Executive of the Hong Kong and SAR Government, Honourable Chun-Ying Leung, who acknowledged the important relationship between BVI and Hong Kong.

Premier Smith reciprocated the gratitude and expounded on the fruitful long term relationship between the two countries, particularly in financial services. The pair provided updates on development in their respective financial services industries and exchanged views and updates on other sectors including banking, tourism, education, transportation and sports. Both leaders agreed to continue dialogue and exchanges in areas of mutual interest.

The delegation also paid a courtesy call to the British Consulate General - Andrew Heyn, OBE. The newly appointed Consulate General also reiterated his office’s support for BVI House Asia.

As part of the day’s activities, Premier Smith hosted a luncheon with a diversified and influential group of approximately 14 financial services practitioners and business women in Hong Kong. The guests represented sectors in banking, asset management, securities, energy, real estate and commercial property development, and manufacturing.

During the luncheon, Premier Smith took the opportunity to reiterate the strong partnership between Hong Kong, China and BVI, and also explained the BVI’s advantages and successes.  He also provided a briefing on developments in the BVI financial services arena such a beneficial ownership, the launch of the BVI arbitration centre and global regulation.

For regular updates on the BVI’s Asian Trade Mission, visit the Government’s website at bvi.gov.vg or follow on Facebook, YouTube or Twitter: @ BVIGovernment. The public can also visit the BVI Finance website at bvifinance.vg, or follow @BVI Finance on Facebook, Twitter and LinkedIn.

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