| Gov. says elections will boost financial services |
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| Thursday, 17 May 2012 09:49 | |||
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Return to elected government will help the Turks and Caicos Islands compete in international commerce, the governor told a new committee promoting financial services in the country. “My objective — and that of the interim administration, the government and the good people of these islands is to meet the milestones and return this country back to elected government,” His Excellency the Gov. Ric Todd say at the May 8 meeting. “I believe that this step, above all others, will provide a welcome boost to the marketability of the TCI as it will demonstrate the capacity of the islands to take on board large scale changes and reforms; its commitment to honest and transparent government; and an enhanced legislative and regulatory framework better suited to the demands of international commerce.” The Financial Services Commission (FSC) organized the workshop of representatives from the financial services industry, government officials, and an international expert from the British Virgin Islands to discuss ways of working together to better promote the TCI financial services sector and to provide opportunities for growth in the future. The workshop concluded with the formation of a joint industry-government coordinating committee for promotion of the financial services sector that will meet on a regular basis. The main aim of the committee will be to effectively represent the sector as it seeks to develop its product base and attract new clients to the TCI. “Today’s event was welcome in that it demonstrates the willingness of the public and private sectors to come together and show their commitment in seeking to develop this vital area of the economy,” the governor said. “The key to success is to build up TCI as a high reputation financial Services Centre. This requires an innovative industry with strong skills and expertise and regulation which is both strong and supportive.” Sherri Ortiz from the BVI’s International Finance Centre addressed the workshop and will be available to assist the new committee as it moves forward, said FSC Managing Director Kevin Higgins. “Her input and experience will prove an invaluable resource as the committee explores new avenues of promoting the financial services industry,” he said.
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