Minors: I aim to make Bda the premier offshore jurisdiction

The Business Development Minister said: “Investors continue to see Bermuda as a destination of interest and benefit to them.

“Obviously we have the insurance, reinsurance, the asset managers, which is an area we’re trying to improve upon and have our reputation a bit more evident.

Challenges

“Cayman has taken over Bermuda as the jurisdiction — we’re seeking to bring Bermuda back on the map.”

The Minister is working to make sure companies are happy in Bermuda.

She said: “International business is so established yet one cannot assume it doesn’t have its challenges.

“With insurance we continue to meet with the relevant stakeholders so that we know of any challenges they have, so that myself as Minister can address them.

“We do not want all the focus to be on tourism. They should really complement each other, as one cannot exist without the other. International business is very key to the economy of Bermuda and the efforts of the insurance development, Bermuda Business, ABIX, ABIR, the Bermuda Stock Exchange etc. have a significant role in Bermuda’s reputation.”

Regarding the payroll tax rollback announced in the Budget, Mrs. Minors said: “I imagine [business owners] find it quite appealing. Some may have challenges. We accept the financial times we’re in, we have to do what is right and efficient for Bermuda.”

Asked how she is enjoying her new role, she said: “I have done management since graduating from university. I have worked in tourism management. But as far as tourism is concerned, I thought about it and I didn’t know much about tourism.

“I have done the summer gigs working in the hotel industry so you cannot help but pick up a feel for the industry.

“While one may think they have no understanding of it, in actual fact they do.

 “What I am trying to instill in the Bermudian public is that they are our tourism product.

“They are the ones who make us successful, our desire to serve and our quality.”