BVI looks forward to E-commerce|
An E-commerce committee set up by the British Virgin Islands' government has produced a report that Chief Minister and Minister of Finance, Ralph T O'Neal, has said could make the BVI 'e-commerce ready.'
Indeed, said Chief Minister O'Neal, one of the report's recommendations, urging for legislation to pave the way for e-commerce, had already been approved and circulated by the Executive Council. Furthermore, he confirmed that a license to trade has already been granted for a company to set up an e-commerce business on the island.
Many members of the Legislative Council have said they would like to see e-commerce become the third leg of the economy and Mr O'Neal said: 'We'll wait and see, as we watch what is happening around us in the other territories, we feel assured that there is a place here for e-commerce.'
He thanked the 14 members of the committee who worked on the report saying: 'I hope that we will be able to implement it very, very, very soon we must now get e-commerce ready and make sure that we create the right climate to foster the opening and the operation of this business in the British Virgin Islands.'
Chairman of the E-Commerce Committee, the Honourable J Alvin Christopher, Minister for Communications and Works, told Chief Minister O'Neal: 'We hope that the recommendations of this Report (10 of them) will meet with the approval of yourself and in so doing, you can take the necessary steps and I promised the members of this Committee, I will do everything possible to urge the encouragement and help support as quickly as possible, the implementation of the recommendations of the Report.'
During the Committee's research it held meetings with representatives of many businesses within the community, such as Cable and Wireless and several trust companies. Minister Christopher said one of the most significant findings during the research of the report was that e-commerce is already in use on the island. He added that the Committee was basically seeking a legislative framework in which to promote and regulate e-commerce.
Chief Minister O'Neal said he will circulate the report to the Executive Council. While the Council is studying the report his office will consider the requirements for implementing the recommendations - particularly in terms of cost. After consideration by Executive Council, the report will be stored at offices of the Legislative Council where it will become a document available for public access.
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