The BVI Asia Trade Mission 2018 began its two-week tour of Asian cities on the evening of Sunday, June 3, when Dr. the Honourable D. Orlando Smith, OBE, Premier and Minister for Finance of the British Virgin Islands, along with members of the delegation met with a significant potential investor in the tourism sector.
The next day, Monday June 4, the Premier and members of the delegation toured the offices of the BOA Financial Group with Mr. Carson Wen, Founder and Chairman of the Bank of Asia.
Following the tour, the Premier and delegation members met with British Consul General Andrew Heyn and his team at the British Consulate. Coming out of that meeting members of the Consul General’s team offered to support the BVI’s participation in the next Great Innovations Show, provided more information on the current relationship between Britain and China, and pledged to support the BVI in several other areas, including fintech development.
After the meeting at the British Consulate, the Premier and the delegation met with Hong Kong Chief Executive Carrie Lam, and had a frank and productive exchange on matters of mutual interest.
The Premier also met with another potential investor who could link BVI directly with China’s Belt and Road Initiative.
On Monday evening, BVI House Asia hosted a BVI Roundtable discussion at the offices of the Hong Kong General Chamber of Commerce in United Centre. The Premier updated more than 30 representatives of professional services firms that do BVI work in Hong Kong on trends in the jurisdiction.. They in turn offered their views to the Premier on the state of the offshore financial services industry and issues of concern in Hong Kong during a lively discussion.
On Tuesday June 5, the BVI Asia Conference, entitled “BVI: Asia’s International Partner in the Digital Era” was attended by well over one hundred persons.
In his keynote speech at the conference, titled “The BVI: Leading from the Front,” Dr. Smith said, “We value our friendship and partnership with Hong Kong and the other great cities of Asia, and are proud of the BVI’s contribution to your success. Our relationship is born of longevity, mutual respect and trust. We are the international partner of choice for Asia – in the past, in the present, and it is our intention to continue this strong partnership into the future.”
Dr. Smith highlighted a number of BVI initiatives, including the MBCA, a new BVI incorporation vehicle for microbusinesses, and the Bank of Asia, BVI’s “first bank in the cloud,” which will facilitate the opening of bank accounts for clients in Hong Kong. Dr Smith also noted the strong level of judicial cooperation that exists between BVI and Hong Kong courts.
Other topics presented at the conference included “Why choose the BVI?”; the BVI’s new digital bank, Bank of Asia; the BVI as an ideal vehicle for structuring on the Belt and Road; meeting the needs of China’s wealthy; fintech trends; and the BVI’s new micro business company initiative, among others.
Honourable Ronnie Skelton provided an analysis and summary of all the presentations
The conference, was held at the JW Marriott, and was followed by a cocktail reception at the hotel hosted by Mr. Carson Wen, Founder and Chairman of the Bank of Asia. The Reception attended by well over four hundred persons celebrating the launch of the Bank of Asia. Attendees included a large number of senior business leaders and other business dignitaries.
Tomorrow the delegation continues to Singapore, where they will attend presentations on fintech at the Monetary Authority of Singapore (MAS), to be followed by a mini conference on Friday and will thereafter travel to Beijing, Hangzhou and Shanghai .
The two week trade mission, which is sponsored by BVI Finance and supported by BVI House Asia, will engage more than 20 featured speakers, including Director of BVI House Asia, Ms. Elise Donovan; CEO of BVI Finance, Ms. Lorna Smith, OBE; Minister of Health and Social Development, Mr. Ronnie W. Skelton; Head of Business Development and Marketing for BVI Finance, Mr. Kenneth Morgan; Asia Representative, BVI Financial Services Commission (HK) Limited, Mr. Burton Chalwell Jr;, along with senior private sector leaders.