Premier eyes action on offshore firms

Premier Dr Natalio Wheatley has signalled his intention to address concerning practices in the financial services industry, where firms may exploit employees in the Virgin Islands while shifting operations abroad.

The Premier made the remarks during an appearance on the Talking Points show, responding to mounting concerns about employment practices and offshore firms’ use of BVI resources.

Dr Wheatley emphasised the importance of protecting the local workforce and ensuring that the benefits of the financial services industry extend to the people of the Virgin Islands.

“The Virgin Islands is a gold mine because of what we’ve built with the financial services industry, primarily based on our laws, our system of laws,” the Premier stated. “But it’s not a situation where you’ll be able to just take and not give.”