The BVI needs at least two multibillionaire investors to inject capital into the economy and help develop major infrastructure, including hotels, airports and seaports.
Political commentator Claude Skelton Cline said the Government and private sector must aggressively seek investors capable of financing the Territory’s development.
“We need two major multibillionaires, and we need to clear the way for those persons to conduct business in the country, where our people can become shareholders, workers, etc.” he said.
His call comes as the Virgin Islands Party (VIP) Government, which took office in February 2019, continues to face criticism over the absence of major development projects capable of generating significant economic activity.
Skelton Cline also urged residents not to fear foreign direct investment, saying strong safeguards could ensure Virgin Islanders benefit from development.
“We need to put the right guardrails in place to ensure that you are a full participant in the development of your own country,” he said.
He suggested that wealthy investors may be seeking safe jurisdictions in which to invest and called on the Territory to actively invite them.
“They’re out there, and they’re looking for a safe haven and a safe place. Let’s invite them to the Virgin Islands,” he stated.
He said any investment plan should align with the National Sustainable Development Plan and continue despite economic crises and downturns overseas.
Skelton Cline also called for the Government to remove unnecessary obstacles facing investors and businesses already operating in the Territory.
“Those people who are already here, we need to facilitate business for them,” he said.
Political commentator Claude Skelton Cline said the Government and private sector must aggressively seek investors capable of financing the Territory’s development.
“We need two major multibillionaires, and we need to clear the way for those persons to conduct business in the country, where our people can become shareholders, workers, etc.” he said.
His call comes as the Virgin Islands Party (VIP) Government, which took office in February 2019, continues to face criticism over the absence of major development projects capable of generating significant economic activity.
Skelton Cline also urged residents not to fear foreign direct investment, saying strong safeguards could ensure Virgin Islanders benefit from development.
“We need to put the right guardrails in place to ensure that you are a full participant in the development of your own country,” he said.
He suggested that wealthy investors may be seeking safe jurisdictions in which to invest and called on the Territory to actively invite them.
“They’re out there, and they’re looking for a safe haven and a safe place. Let’s invite them to the Virgin Islands,” he stated.
He said any investment plan should align with the National Sustainable Development Plan and continue despite economic crises and downturns overseas.
Skelton Cline also called for the Government to remove unnecessary obstacles facing investors and businesses already operating in the Territory.
“Those people who are already here, we need to facilitate business for them,” he said.
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