Statement

Premier's Office
Topics: 
Good Governance
Release Date:
Wednesday, 21 May 2025 - 11:05am

2025 Territorial Address

Planning, Priorities and Progress (2024) and Laying the Blocks of Success (2025)

BUILDING A SUSTAINABLE NATION

 

Delivered by

Honourable Dr. Natalio D. Wheatley

Premier and Minister of Finance

20th  May 2025

 

(Salutations based on protocol)

Good evening!

I am especially pleased to welcome our young people from the following schools who are in attendance:

  • Cedar International School
  • St. George’s Secondary
  • Virgin Islands Technical Institute
  • Seventh-day Adventist School

Please stand and be recognized.

 

We are very pleased to have you with us this evening. All you will hear this evening is for your future. We hope it will inspire you to aspire to public service and, at a minimum, pique your curiosity to learn more about how Government works and tell your friends about what you learned.

 

INTRODUCTION

  1. It is with immense pride and a profound sense of accomplishment that I stand before you today to deliver this Territorial Address. As we commemorate the second anniversary of our administration, we reflect on the remarkable journey we have undertaken together. This year’s address continues under the overarching theme of Building a Sustainable Nation, rooted in the 2023 National Sustainable Development Plan (NSDP) titled “Vision 2036: Building a Sustainable Virgin Islands”.

 

  1. I would like to encourage our educators to obtain a copy of the NSDP and utilize it as an educational tool to inform the next generation of leaders on how we are securing their future by building a sustainable nation. This is a commitment I take very seriously. I firmly believe that we have an obligation to honour the legacy of our forbearers by passing on the benefits they bestowed upon us: land ownership, education, an independent spirit, resilience, and all that characterizes a Virgin Islander.

 

  1. In my 2025 Budget Address, I introduced the theme of Laying the Blocks of Success as part of our journey to Build a Sustainable Nation using the NSDP as our blueprint. The 2025 theme, alongside the 2024 theme of Planning, Priorities and Progress, forms the foundation for today’s Territorial Address, which encompasses May 2024 to April 2025. This period covers the second year of my administration, and I am honoured to share with you the accomplishments we have achieved for the Territory of the Virgin Islands during this transformative year.

 

  1. The past year has been characterized by resilience, innovation, and an unwavering commitment to improving our beloved Virgin Islands. We have overcome significant milestones across numerous sectors, each contributing to a stronger, more vibrant, and sustainable future for all residents.

 

  1. Today, we will explore the tangible progress made in strengthening and diversifying our economy, including bolstering our vital tourism sector and advancing our financial services; empowering our youth through innovation and technology-driven learning; ensuring a healthy population and supporting our most vulnerable; fostering crucial international relationships and partnerships; and developing essential infrastructure that underpins our society.

 

  1. We will also highlight our ongoing commitment to environmental stewardship and the principles of good governance that guide our actions. All these achievements align with our program, policy, and legislative goals reflected in the 2025 Budget Address and Throne Speech, guided by the six national goals of the NSDP: Economy, Infrastructure, Health and Wellness, Education and Learning, Environment, and Good Governance & Leadership.

 

  1. This is not merely a report of figures and initiatives; it is a testament to the spirit and determination of the people of the Virgin Islands and a commitment to building a sustainable nation.

ACHIEVEMENTS IN ECONOMY

 

  1. One of the highest priorities of a government is to ensure that its economy is in good health. The state of the economy affects all sectors, the viability of businesses, residents’ ability to secure employment, the affordability of goods and services, and the Government’s ability to deliver on its obligations to the citizenry.

 

  1. During my Government’s second year in office – just as in the first year, considerable attention was devoted to the economy of the Virgin Islands – and our two main economic drivers of tourism and financial services.

 

  1. Over the past year, the Virgin Islands’ tourism sector has demonstrated remarkable resilience and innovation. In 2024, we welcomed more than one million tourist visitors; the second time in BVI’s history that we have crossed the one-million mark and the highest arrivals since the 2017 hurricanes. Central Statistics Office data confirms that total tourist arrivals in 2024 surged to 1,092,139, a substantial 9.8% increase compared to 2023.

 

  1. This impressive growth was witnessed across all visitor categories, demonstrating the broad appeal of our islands and the immense efforts we have invested in this crucial sector. Historic record high visitor arrivals were witnessed in both cruise ship visitors and day-trippers, where we recorded 768,293 passengers and 17,970 visitors, respectively. Overnight visitors had a remarkable 16.7% boost, with a total of 305,876 guests. This remarkable recovery and growth are a testament to the hard work, dedication, and collaborative spirit of everyone involved in our tourism industry.

 

  1.  
  1. Let me take this opportunity to recognise one of our industry partners for the outstanding recognition they have brought to the Territory and to their establishment. Oil Nut Bay has been recognised for having the “Best Private Villa in the Caribbean” by Modern Luxury. I take this opportunity to congratulate and thank the management and staff of Oil Nut Bay for their achievement.

 

  1. Enhanced airlift capacity is vital for our tourism sector's growth. In October 2024, Caribbean Airlines began connecting the Terrance B. Lettsome International Airport (TBLIA) with Puerto Rico and hubs in Antigua, Barbados, and Trinidad. LIAT 2020 started daily regional flights to Beef Island in December 2024. American Airlines' direct Miami service, launched in June 2023, often operates up to six flights daily. Demand for direct access to the BVI remains high, and we are exploring more route options.

 

  1. The long anticipated Business Case for the airport expansion at the Terrance B. Lettsome International Airport has been completed, and the way is clear for the project to take off and take our tourism product to new heights.

 

  1. Increased airlift is good news for putting heads in beds.  And over the past year there have been significant developments in the accommodation sector.  The reopening of the “re-imagined” Peter Island Resort in December 2024, with new international partnerships, such as the membership with Preferred Hotels & Resorts’ Legend Collection, further elevated our tourism product, and represents a significant investment in our economy and a testament to the confidence in the BVI as a premier destination. From all indications, Peter Island has rapidly returned to its high demand position as one of BVI’s signature resorts.

 

  1. With the return of all of our major resorts and escalating demand for accommodation driven by the increase in airlift, there is an opportunity to grow the sector. I am therefore pleased that we can move Prospect Reef closer to reality. We received a strong response to the Expression of Interest requests and bids are currently being evaluated. We envision a four-star or higher-rated hotel, with at least 150 rooms and modern conference facilities capable of hosting up to three hundred delegates and offering exceptional service and amenities catering to leisure and business travellers.

 

  1. Bitterend has completed a substantial amount of construction and continues to form an important part of the tourism product in the Gorda Sound area, and Biras Creek has built a new restaurant as they prepare to embark on an exciting new development project.

 

  1. Other new developments and expansions are in the pipeline and will result in significant expansion of the accommodation sector which will align with our plans for airport expansion. For instance, in March 2024 my Government signed a development agreement with JOMA (Properties) Ltd. to build a new 65-room boutique hotel, complete with restaurant, bar, retail shop, fitness centre and more, as well as an upgrade of the marina facilities in the Port Purcell area.

 

  1. The VI Tourism Summit in January 2025 at Peter Island Resort was a major success, engaging over 330 stakeholders from public and private sectors to shape BVI’s tourism vision. Building on this, we are finalizing consultations for a comprehensive National Tourism Policy, reflecting our people's aspirations. We plan to publish by June and issue Requests for Proposal for a ten-year National Tourism Plan to provide a ten year roadmap for Virgin Islands tourism development.

 

  1. A new vision and plan for tourism requires a new legislative and organisational support structure to drive its development. That is why my Government established a Ministry of Tourism (MOT) and began staffing it over the past year. The MOT will now be responsible for the management and development of the industry and the Tourism Board will be responsible for its marketing and the visitor experience. The structure will allow the development of tourism as a stronger economic pillar and revenue driver; creating an enabling environment to significantly increase tourism’s contribution to the Gross Domestic Product (GDP) of the Virgin Islands by facilitating the integration of other sectors of the economy into the tourism sector. 

 

  1. This tourism transformation has already begun in the yachting sector where we are near completion of its legislative, management and revenue overhaul with amendments to the thirty-three-year-old Commercial Recreational Vessel Licensing (CRVL) Act. We expect to significantly increase revenue collection from the yachting sector which represents about 60% of our visitor arrivals. The amendments will modernise and promote fair and equitable fee structures and operational measures. The fees and measures were agreed after consultations with our key stakeholders, including our local industry and our neighbours in the USVI.

 

  1.  Over the past year, my Government has responded to the need to improve our tourism infrastructure and support for the industry. We implemented a Beach Management framework that resulted in the installation of showers at Long Bay Beach, Beef Island; we completed the Trellis Bay Welcome Centre - a much-needed facility that enhances the visitor experience at one of our busiest gateways; we launched a digital Embarkation and Disembarkation (ED) Card system which is completed online, improving the traveller experience and enhancing the department’s data collection capabilities to support border security and tourism management and established a Small Vesel Portal for electronic travel authorization for the yachting sector. All of these measures have enhanced the visitor experience and are part of the responsibilities that will be managed by the Ministry of Tourism.

 

  1. Over the past year, My Government has implemented plans to diversify the visitor experience and increase the economic participation of Virgin Islanders in the tourism sector by placing greater emphasis on cultural events and activities.  We envision the space behind the Administration Building as an event venue and have already witnessed successful events there that generated considerable economic activity. Consideration for its multi-use for festivals, events and hosting activities for cruise tourism are being explored, along with creating a permanent amphitheatre.

 

  1. In August 2024, the Virgin Islands Shipping Registry transitioned into the Virgin Islands Shipping and Maritime Authority (VISMA). This strategic move positions the BVI to diversify, expand and enhance revenue streams from the maritime sector by immediately establishing a globally competitive maritime flag for the registration and administration of vessels in the Territory and having the BVI red ensign flag on vessels in various ports throughout the world. This is a natural extension of our maritime sector and complements our tourism and financial services sectors to give BVI premium position as a one-stop shop for our target demographic. VISMA has recently been successful in achieving BVI flag approval for the benefits and advantages of the Yachts Engaged in Trade (YET) designation with critical Mediterranean port destinations.

 

 

Financial Services

  1. In the area of financial services, my Government continues to work with all our global stakeholders to ensure that we maintain our competitive edge in our key markets and sectors and a robust and secure operating environment that meets clients’ needs in an increasingly competitive and challenging regulatory environment.

 

  1. In our core business of international companies, we continue to maintain our position as the leading offshore corporate domicile with over 360,000companies as of 31 March 2025. The number of new incorporations in Q1 2025 (7,025) increased by 13.9% when compared to the number of new incorporations in Q4 2024 (6,167).

 

  1. In the past year, we made legislative amendments to the Financial Services Commission’s regulatory framework to address the CFATF Mutual Evaluation Report. Key changes included updates to the Financial Services Commission Act, the Anti-Money Laundering and Terrorist Financing Code of Practice, and sector-specific legislation such as the Securities and Investment Business Act and the Banks and Trust Companies Act. These reforms enhanced regulatory effectiveness and alignment with international standards.

 

  1. In October 2024, the Ministry for Financial Services led the Virgin Islands delegation, which included representatives from the Attorney General’s Chambers, the Financial Services Commission and the Financial Investigation Agency, to the Illicit Finance Dialogue (IFD) in Miami, Florida – a Senior Officials Meeting of the United Kingdom and the Overseas Territories. . The Virgin Islands hosted and served as Co-chair of the inaugural IFD held in 2023, before transitioning the Co-Chair responsibilities to the Cayman Islands earlier this year.  This high-level forum focused on combating illicit finance, including regulating high-risk industries, supervising crypto assets, and enhancing transparency around financial structures like beneficial ownership. Discussions also covered FATF Recommendations, sanctions enforcement, and cooperation mechanisms between authorities. The delegation participated in sessions on risk-based supervision of Trust and Corporate Service Providers (TCSPs), investigating cross-border financial crimes, and managing virtual asset risks.

 

  1.  Additionally, we launched the Virgin Islands’ first AML/CFT public awareness campaign in early 2025, featuring Riley RIGHT, an animated character promoting compliance, responsible financial behaviour, and the Territory’s AML/CFT framework. Riley represents the core values of Responsibility, Integrity, Governance, Honesty, and Transparency.

 

30.  In late 2024, my Government developed a draft Policy on Rights of Access to the Register of Beneficial Ownership, setting out a proposed framework to enhance transparency in line with evolving international standards and best practices.

Following an extensive public consultation process, which concluded in March 2025 and generated substantial feedback from a broad range of stakeholders, the final policy and legislative amendments are now being refined. Stakeholder engagement is scheduled for June 2025 to support smooth and effective implementation.

 

31.  The final version will preserve privacy safeguards, clarify who may access information, the conditions under which access may be granted, and establish mechanisms to protect individuals at risk of serious harm such as fraud, harassment, or kidnapping. Once enacted, this framework – representing a major policy milestone – will enhance the Territory’s beneficial ownership regime in a manner that is responsible, proportionate, and consistent with our constitutional principles and international obligations.

 

  1. During 2024, the Virgin Islands was subject to major reviews conducted by the Global Forum namely, the Supplementary Review concerning the Exchange of Information Upon Request (“EOIR”) standard, and the Automatic Exchange of Information (“AEOI”) effectiveness review. This included onsite visits. The EOIR supplementary review was concluded towards the end of 2024, and the BVI, despite achieving Compliant or Largely Compliant on 8 out of 10 elements, continues to be rated as Partially Compliant, with the focus currently on addressing the deficiencies surrounding accounting records. The AEOI effectiveness review is ongoing, and the conclusion will be published later in 2025. The BVI remains “compliant” or in good standing concerning the implementation of the economic substance regime, the country-by-country reporting regime, and the other minimum standards of Base Erosion and Profit Shifting BEPs.

 

33.  The International Tax Authority (ITA) plans to introduce a payment portal for fees related to the BVI Financial Account Reporting System and to enhance compliance for financial institutions. They are also implementing amended Common Reporting Standards, with all early adopters required to ensure these changes are in place for the first exchange in 2027. Additionally, the ITA is considering the Crypto Asset Reporting Framework to start exchanges in 2028, as committed by the Government of the Virgin Islands.

 

Financial Services Marketing

 

  1. The Ministry actively supports BVI Finance in promoting and developing the financial services industry, aligning marketing efforts with national policy. Last year, it backed several initiatives to raise BVI's profile in international markets, including branding activities, business development campaigns, conference participation, and major outreach events like the Asia Trade Mission, enhancing global positioning and stakeholder confidence.

 

  1. In May 2024, a high-level delegation led an Asia Trade Mission, reaffirming BVI’s commitment to financial markets in Asia, which contribute about 60% of its financial services business, particularly from China, Hong Kong, and Macau. They visited major hubs like Hong Kong, Shenzhen, Beijing, Shanghai, and Singapore, engaging over three hundred professionals and officials, highlighting BVI’s role as a 'super-connector'.

 

  1. In February 2025, I led a small delegation to the Asia-Pacific region, visiting Hong Kong, Macau and Malaysia to strengthen financial and diplomatic ties.  In Macau, the world’s leading gaming capital and a longstanding BVI partner, we reaffirmed financial services links – particularly the significant role BVI entities play in facilitating USD$1.4 billion in inward investment – and will continue to explore opportunities with the Gaming Commission to support the development of the BVI’s gaming industry.  Our visit to Malaysia marked a historic milestone with the establishment of diplomatic relations and included engagements with the Labuan Financial Services Authority and Malaysia’s Ministry of Trade and International Investment Authority, as we aim to expand BVI’s presence in this rapidly growing financial hub.  I also visited partner universities in the BVI’s Asia Abroad Programme, where seven Virgin Islanders are currently pursuing full-time studies.  The programme, which I helped establish in 2021 during my tenure as Minister of Education, continues to receive my full support as Premier.  In addition, I met with university chancellors in  Macau to explore further educational opportunities for Virgin Islanders.

 

 

Agriculture and Fisheries

 

  1. My Government remains committed to advancing our Agriculture and Fisheries sectors, recognizing their vital role in food security and economic diversification. We have undertaken significant work on our strategic plan for the sector and are collaborating with farmers and fishers to execute aspects of it to support their businesses.

 

  1. In 2024, we entered into a contract with Trojan Design and Development Limited for the design and construction management of a food processing complex. We initiated training and research with Blue Abacus, deploying and collecting underwater footage using baited remote video to gain a better understanding of our marine environment. Additionally, we enhanced the aesthetics of the exhibition grounds in Paraquita Bay by demolishing structures damaged by Hurricanes Irma and Maria in 2017.

 

  1. We have developed comprehensive plans to build a reservoir to serve the farming community of Paraquita Bay, providing essential water resources to boost agricultural production. Meanwhile, we have procured equipment to tap into the natural wells in Paraquita Bay. The designs for the Agricultural Complex are advanced, and construction is expected to commence in the 4th quarter of this year. The allocation of lots for farming on Anegada and Virgin Gorda is imminent, as is the finalization of policies on grants and water.

 

  1. Several initiatives aimed at assisting and empowering food producers are under development and will be implemented soon. These include financial assistance and access to microloans for farmers and fishers; training in animal and plant health, farm management, container farming, and vertical farming.

 

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  1. I am encouraged by school programs promoting gardening, which teach the importance of farming and food security. I commend Imagination Academy VI, Francis Lettsome Primary School, Willard Wheatley Primary School, Enis Adams Primary School, Ebenezer Thomas Primary School, and Ivan Dawson Primary School for their impactful gardening initiatives and innovative contributions to education and agriculture. The students' hands-on work in growing produce and supplying local restaurants is impressive. This model of sustainability and entrepreneurship embodies the "farm to plate" spirit and promotes self-sufficiency in our Territory. Please give these students a round of applause.

 

Business Development

 

  1. Over the past year, my Government has worked to create an enabling environment that facilitates the development and growth of business. Our objective is to create a more supportive and business friendly environment that allows businesses to thrive.

 

  1. In 2024, my Government introduced a new Micro, Small, and Medium Enterprises (MSME) Policy, which included the MSME Grant Programme. This initiative offers grants to help local businesses overcome financial barriers and support their growth. Eligible businesses, wholly owned by Virgin Islanders, now have access to funding for equipment purchases, inventory management, marketing, employee development, and technology acquisition. Over the past year, we have helped businesses to expand, start and diversify their businesses, and to get them on the path to growth and success. We plan to continue this commitment.

 

  1.  
  1. This is the case with Mennen-I-Fashion Brand and owner Mrs. Marketa Turnbull-Smith. She received an MSME Grant and used the funds to purchase high quality fabrics, labels and other materials to produce high quality clothing. She also purchased equipment to produce her own high-quality images for marketing on her website developed with the funding. She then launched social media campaign to reach her market. This is an example of the MSME Grant program at work.

 

  1.  Through the Department of Trade, Investment Promotion and Consumer Affairs, my Administration has been in negotiations with H. Lavity Stoutt Community College (HLSCC) and an international university to ensure a continuous flow of innovative knowledge into the Territory. This knowledge will be used to enhance the competitiveness of the local businesses and explore new underdeveloped sectors with the focus of diversifying the economy. Negotiations are in the final stages.

 

  1. The Trade Department is also establishing a mentorship programme, which will be launched in June 2025. Established entrepreneurs will be able to provide guidance and expertise to up-and-coming businesses, with a strong focus on improving the success rate of start-ups.

 

  1. Work is progressing to re-establish the Consumer Affairs section of the Trade Department, as well as an Innovation Hub where entrepreneurs can be trained in areas such as marketing, fiscal management, human resource management and customer experience management. Within this innovation hub, we are creating a business establishment unit that will assist with such things as logo design, business plans, and financial statements. This initiative, in collaboration with financial institutions, aims to improve the success rate of entrepreneurs securing loans. Efforts are also being made to expedite the processing time of trade licenses.

 

  1. The Government has been working on revisions to the Virgin Islands Investment Act 2021, which will transfer authority to the Minister from the Trade Commission. This centralization of authority is aimed at making changes that align trade policies with broader economic development goals, ensuring a strategic approach to fostering investment and economic growth in the Virgin Islands. The plan is to create a stronger institutional, policy and operational foundation among the Government agencies responsible for Trade before the re-establishment of the Trade Commission. This will ensure that when established, the Trade Commission can function efficiently with a strong supporting policy, operational structure and mandate.

 

  1. Substantial amendments are also being made to the investment and residency programmes, to create a more responsive and agile regulatory environment, capable of adapting to the dynamic needs of both local and international investors. A two-tier approval process for foreign and local investors will be introduced, which will be seamlessly integrated into a one-stop service approach. The Director of Investment Promotion is on-board to spearhead and drive the launch of our investment promotion agency that will provide a more business-friendly, efficient, and proactive one-stop support service for local and foreign investors.

 

ACHIEVEMENTS IN INFRASTRUCTURE

 

  1. Robust infrastructure is essential for a high quality of life, elevated standards of living, and economic investment. Over the past year, the Government has diligently worked to restore and enhance our infrastructure despite the challenging aftermath of the 2017 catastrophic hurricanes, unstable global economic conditions, and severe financial limitations resulting from the destruction of the Territory's infrastructure in 2017. It is important to note that we did not receive substantial financial assistance comparable to our counterparts who benefited from significant capital grants. Despite these obstacles, the Government made the unprecedented decision to borrow $100 million, resulting in notable improvements in infrastructure services throughout the Territory.

 

  1. Six miles of road on Tortola have been resurfaced with asphalt. Key areas addressed include Beef Island, East End, Ridge Road, Joe’s Hill, and Prospect Reef to Duff’s Bottom. On Virgin Gorda, road rehabilitation in North Sound is progressing in phases, with a complete section near the Robinson O’Neal Primary School. On Jost Van Dyke, ongoing works include the Back Road project in the vicinity of the primary school and the second phase of repairs on the undermined East End Road, commencing momentarily – if it has not already begun.

 

  1. The Public Works Department (PWD) conducted critical road rehabilitation and drainage works across the Territory. Notable projects included road repairs in Fahie Hill, Sabbath Hill, and Brewer’s Bay, as well as sidewalk improvements near Cedar School and the Attorney General’s Chambers. Drainage rehabilitation was also completed on the main road between the R. T. O’Neal Administration Complex and Maria’s by the Sea. Major rehabilitation works, including the casting of a two-lane roadway and retaining wall, were executed in East End, Jost Van Dyke. A section of roadway in Cane Garden Bay was reinstated with reinforced concrete, and upgrades were also made in front of Ebenezer Thomas Primary School.
  2. The Water and Sewerage Department (WSD) improved service delivery by launching its payment portal, boosting revenue collection by 30%; upgrading pipelines to resilient HDP materials in critical areas; and recommissioning the Burt Point Wastewater Treatment Plant. Efforts are underway for temporary repairs to the Fort Hill Tanks. A tender has been issued for reservoir repairs at Minton Hill in Virgin Gorda and Fort Hill, Sabbath Hill, Hannah Hill, and Balsam Ghut in Tortola. A leak detection and remediation assessment, completed through the RDA, has led to the ongoing equipping of the WSD to continue the remediation process.

 

  1. Work on the East End Long Look Sewerage System is ongoing. Key highlights include the following:
    • the Wastewater treatment at Paraquita Bay will be evaluated and commissioned by July. Equipment for the sludge treatment facility is being received;
    • the Long Swamp pump station and main lines will be completed by September;
    • a contract for connecting gravity lines to the Long Swamp pump station has been signed, with work starting by end of May;
    • household interconnections in Long Look, Greenland, and Fat Hog's Bay will start in Q3 2025. Tenders will be issued in June; residents will be notified to apply for connections;
    • pumping sewage from the pump station to the treatment plant is targeted for Q4 2025. This will allow households to have full service for the first time; and
    • sewerage lines from Paraham Town to Long Swamp are under tender evaluation, with work commencing in Q3 2025.

 

  1. The BVI Electricity Corporation (BVIEC) made pivotal progress in 2024 toward modernisation, sustainability, and resilience. The Anegada Hybrid Renewable Energy Project progressed to the commissioning stage, and the Solar Technology Energy Programme (STEP) was launched to reduce consumer bills and bolster renewable energy use.

 

  1.  The submarine cable to Jost Van Dyke was fully reinstated. Training initiatives upskilled technical staff, while a formal procurement function was established to ensure transparency and alignment with government standards.
  2. We have made considerable progress in merging BVIEC and WSD into a single statutory body. Draft legislation has been reviewed by Cabinet and is now in legal vetting, with resubmission to Cabinet and subsequent passage in the House of Assembly in the third quarter of 2025.

 

  1. The Ministry recently introduced a Civil Mitigation Policy to enhance infrastructure management and ensure accountability. Approved by Cabinet in June 2024, the policy established a formal process for submitting requests for works to improve public infrastructure or private property negatively impacted by public infrastructure.

 

59.  Cabinet approved the Strategic Outline Business Case for the expansion of Terrance B. Lettsome International Airport, laying (TBLIA) the foundation for a detailed business case and future implementation. The Outline Business Case builds upon the previously approved Strategic Outline Case and strengthens the case for investment through rigorous analysis across five key domains: strategic need, economic justification, commercial viability, financial affordability, and management delivery. The Outline Business Case proposes an upgrade to accommodate larger aircraft, essential for improving our international connectivity and enhancing travel efficiency. This transformational project aligns seamlessly with our National Sustainable Development Plan and our aspirations for tourism, economic diversification, and global competitiveness.

  1. The BVI Airports Authority (BVIAA) achieved significant milestones that positioned it as a regional leader in aviation development. As mentioned earlier, visitor arrival numbers surged with increased airline services, and infrastructure upgrades — including expanded arrivals and seating areas — improved capacity and traveller experience.  A new arrivals conveyor belt is being installed as part of a broader project to expand the arrivals area, increasing capacity and improving customer experience.
  2. Multiple capital works are progressing at the BVIPA, including the construction of a general cargo warehouse at Port Purcell, Phases 3 and 4 of cargo dock apron repairs, and the rehabilitation of the Jost Van Dyke ferry dock. The development of the Road Town Jetty parking lot is pending approval, and online payment system integration for all services is ongoing, with completion anticipated by August.
  3. Under the Department of Motor Vehicles (DMV), digitisation continues with the initiation of online payment for select services expected by the end of May. The DMV commemorated the Territory’s heritage through the release of special 70th Festival license plates.
  4.   The Telecommunications Regulatory Commission (TRC) achieved significant milestones in 2024. It completed a 5-Year Strategic Plan (2024–2028) focusing on innovation, accessibility, regulatory reform, consumer empowerment, and organisational excellence.

 

  1. In 2024, the Recovery and Development Agency (RDA) continued implementation of fourteen projects on behalf of Government. These included the completed Jost Van Dyke Multipurpose Educational Facility, Virgin Islands Law Enforcement Marine Base, His Majesty’s Customs, and the Immigration Department. The RDA also commenced implementation of five critical road infrastructure projects to improve access and safety across the Territory.
  2. In addition to the aforementioned Agricultural Complex and Farmers’ Reservoir, ongoing projects through the RDA include the, Immigration Detention Centre, Road Town Partnership and BVIHSA Infrastructure Improvements projects – all expected to break ground before the end of 2025. The RDA also looks forward to bringing final solutions to bear on longstanding issues in the coming months, including completing the lighting at the AO Shirley Recreation Grounds, and removing derelict vessels from the Sea Cow’s Bay harbour.
  3. Demonstrating my Government’s commitment to long-term sustainable development, we look forward to transitioning the RDA to the Virgin Islands Development Agency (VIDA) as a permanent body in the coming months. VIDA in collaboration with the Ministries of Government will focus on delivering a long-term, sustainable approach in advancing our infrastructure and building our resilience.
  4.  In April 2025, my Government launched the Road Town Partnership (RTP), a public-private partnership (PPP) to finally fix our capital. This initiative brings together the essential government agencies responsible for aspects of developing and maintaining the capital, the businesses that work in and benefit from the capital, and the community that use the capital. The goal of the RTP is to create a capital that reflect our collective vision using our collective resources. Development plans created over the years will be updated with public and expert input and executed under a coordinated and collaborative plan managed by the RTP Board of public and private members. Work on identifing projects will begin shortly after public and business consultations slated to begin in June.

 

ACHIEVEMENTS IN HEALTH

  1. The health and well-being of our residents remain a top priority for my Government. We are committed to enhancing the quality and accessibility of healthcare services across the Territory. Over the past year, we have made significant investments and advancements in our healthcare infrastructure and service delivery.

 

  1. A significant milestone in our commitment to healthcare advancement was the historic inauguration of the Ponce Health Sciences University (PHSU) School of Medicine BVI. This momentous occasion marks a new chapter in the history of the Virgin Islands and represents a transformative step in our country’s development; one which will have a profound and lasting impact on our Territory. The establishment of the PHSU School of Medicine here in the BVI  will not only provide opportunities for aspiring Virgin Islanders to pursue careers in medicine without having to leave their homeland but will also contribute to the growth of a knowledge-based economy.

 

  1. In 2024, we finalised the National Social Protection Policy and Action Plan, alongside critical amendments to the Public Assistance Legislation. These initiatives, developed in collaboration with key stakeholders, including UNICEF, aim to fortify the social safety nets, particularly for vulnerable populations. Importantly, the policy framework integrates climate resilience and mental health considerations, ensuring a more holistic and sustainable approach to social protection.

 

  1. A key milestone for the Territory was the enactment of the Public Assistance (Amendment) Act 2024 which introduced enhanced benefits such as basic income grants, hardship allowances, and shock-response grants to support individuals facing economic hardship. Under the revised public assistance programme, beneficiaries now receive increased financial support that is aligned with inflation and economic challenges, ensuring the programme’s continued effectiveness as a reliable safety net for vulnerable individuals.

 

  1.  The Social Development Department launched a Financial Literacy Workshop to enhance the financial skills of public assistance recipients. Collaborating with the World Food Programme, they are finalizing a multisectoral shock-responsive social protection manual, supporting streamlined service delivery and developing a comprehensive Information Management System. My Government intends to establish a dedicated Social Assistance Division to improve efficiency and responsiveness. We will also expand the senior engagement program to Virgin Gorda, and residents of the Adina Donovan Home will benefit from individualized physiotherapy services to improve their mobility and quality of life.

 

  • My Government’s ongoing commitment to infrastructure development is evident in the continuous upgrades to healthcare facilities, community centres, and social housing. Over the past year three social homes were completed; and the Adina Donovan Home for the Elderly underwent essential roof restoration works. Additional improvements will be made to the elderly home through a public-private partnership with Unite BVI partners which is supporting a kitchen upgrade at Adina Donovan Home.

 

  1. The public tendering process has been initiated for establishing a Transitional Shelter in Long Look, to provide temporary housing and support services for individuals that require such assistance as accommodation and support.

 

  1. My Government has allocated $1 million for critical repairs and upgrades to the BVI Health Services Authority’s (BVIHSA) physical infrastructure assets slated for 2025. These include exterior painting of the Dr. D. Orlando Smith Hospital, installation of new hospital signage, and renovations to the Major Peebles Wing.

 

  1.  Public Health advancement also remains a central focus. We ensured the recent passage of the Tobacco Products (Amendment) Act, 2025; a significant step toward aligning the Virgin Islands with the WHO Framework Convention on Tobacco Control (FCTC). This legislative reform lays the groundwork for the Territory’s eventual accession to international conventions, reinforcing our commitment to global best practices in tobacco control and public health protection.

 

  1. We successfully launched the Care Certificate programme, which establishes a national standard for the training of community caregivers, and the BVI Moves programme, which is a community-based movement initiative designed to tackle non-communicable diseases.
  2. Through the Environmental Health Division, the Ministry trained of over 4,000 food handlers; targeted training for Early Childhood Practitioners to strengthen hygiene standards in childcare settings across the Territory; offered food handler training in Spanish, a strategic move to better serve the BVI’s multilingual community.

 

  1. Finalisation of the National Medicines List is underway. This list will ensure that our residents have equitable access to essential medicines, guided by international best practices. Collaboration continues with PAHO and CARPHA to roll out the District Health Information System 2 (DHIS2). This powerful platform will revolutionise disease surveillance, improve data management, and enable the establishment of robust disease registers, including the Territory’s first-ever Cancer Registry.

 

  1. Over the past year, the BVI Social Security Board (SSB) has embraced digital transformation, implementing a new, modern, and comprehensive Enterprise Administration System to offer E-Services to beneficiaries. The SSB has also launched a digital card renewal portal, which allows beneficiaries to submit applications online. Employers can also now upload remittance data directly through the online payment portal, improving efficiency and reducing the administrative burden.

 

  1.   As part of its ongoing investment in affordable housing, the SSB reports that approximately one-fifth of the Joe’s Hill Manor Estate has been sold or is currently under contract to Virgin Islanders. Homes on the property remain available for purchase. The SSB has entered into a Heads of Terms Agreement with Ponce Health Sciences University to lease property on the Joes Hill Manor Estate, enabling students enrolled in the university’s medical programme appropriate housing in the Territory. The remainder of the property will remain accessible and available for homeownership opportunities for Virgin Islanders.

 

  1. Over the past year, my Government implemented critical upgrades at His Majesty’s Prison to improve safety and rehabilitation outcomes at this facility. These included modern radio and surveillance systems, kitchen renovations, staff training and the introduction of new rehabilitation programmes.

 

 

EDUCATION AND LEARNING

  1. Education is the compass of any nation—it not only points us forward, but guides how we get there. My Government has been charting a bold course to reimagine learning, empower youth, and elevate sport across these Virgin Islands. Over the past year, our efforts have been intentional and transformative, as we’ve focused on our priority areas of infrastructure, professional development, and resources.
  2. In 2024, Government’s educational initiatives focused on enhancing the curriculum with a strong emphasis on Science, Technology, Engineering, Arts, and Mathematics (STEAM) education, transforming classrooms into hubs of innovation and creativity. In line with our STEAM mandate, a cohort of educators have begun an Arts Integration and STEAM certification at the Master's level, designed to provide educators with advanced skills to effectively integrate the arts into core academic subjects, making learning more engaging, creative, and interdisciplinary for students.
  3. The Mathivated Project, launched in September 2024, is empowering primary school teachers to teach Mathematics more effectively, boosting student engagement and confidence.

 

  1. We have finalised a five-year strategic staffing plan that will add over eighty vital positions across our schools, strengthening support, accountability, and student success.

 

 

  1. $2.5 million has been allocated this year to support critical upgrades. This summer, schools across the Territory are scheduled to undergo essential works, including roof repairs, window and door installation, electrical upgrades, plumbing improvements, and the installation of backup generators. Safety enhancements and the installation of new security systems are also planned to ensure our learning environments remain secure, resilient, and conducive to 21st-century learning. We have also invested in classroom resources including smartboards, computers, tablets, and robotics kits, fuelling a culture of creativity. Nearly seventy educators have accessed advanced training, and our revised compensation framework positions Virgin Islands teachers competitively regionally, helping us attract and retain top talent.

 

  1. My Government also supported the professional development of our educators through the Let’s Teach VI Initiative, a collaboration between the Ministry of Education and the H. Lavity Stoutt Community College (HLSCC). In June 2024, 10 new teachers graduated from the Certificate in Teaching programme, while twenty-three experienced educators earned the Certificate in Effective Leadership. An additional twelve educators also completed the Certificate in Secondary Education programme, offered in collaboration with the University of the Virgin Islands. This year, the Ministry will launch a new opportunity for in-service educators to earn their Bachelor’s Degree in Education through a strategic partnership between HLSCC and Walden University, allowing teachers to pursue higher qualifications while remaining in the Territory.

 

  1. The transformative power of play in fostering environments where children thrive cannot be overstated. We introduced five brand-new playgrounds to our schools, creating vibrant spaces designed to nurture and inspire structured play, which stimulate creativity, social interaction, and cognitive development, allowing students to engage in meaningful play while building essential life skills.

 

  1. The Department of Youth Affairs and Sports made remarkable progress in youth engagement and empowerment as well. The Afterschool Programme and Summer Camp reached over four hundred young people, providing essential skills training, mentorship, and career guidance.

 

  1. With the help of local donors, we introduced Coding and Robotics classes for 10th Grade students across the Territory. By integrating this subject into the curriculum, we are equipping students with critical 21st-century skills, preparing them for the rapidly advancing world of technology and innovation. The Robo-Mindset Summer Camp 2024 was well participated by our young people, whose projects were displayed at a community robotic exhibition. The top students from the camp attended the First Global Robotic Challenge in Greece in September 2024. Team BVI placed 111th globally and sixth in the Caribbean region.

 

  1. Our investment in technology in the classroom creates opportunities for our students to embrace innovation and capitalise on rapidly evolving technologies of the future. The Virgin Islands is not the limit of their opportunities.

 

  1. Also, the Ministry of Education, Youth Affairs, and Sports continues to make students educational dreams come true through their scholarship programme which administered 27 scholarships in 2024 and helped dozens more through the grant programme.

 

  1.  
  1. A past recipient of a Virgin Islands scholarship is Jordan Dawson. Jordan excelled academically, achieving a 4.0 GPA Summa Cum Laude at HLSCC and being the Salutatorian of Francis Lettsome Primary School. He scored in the 99th percentile on the SAT after improving his score by nearly 500 points through self-study. In 2025, he graduated with a Bachelor of Science in Mathematical Sciences and a minor in Computer Science from Florida International University, Summa Cum Laude. He joined the Phi Beta Kappa Honor Society and was recognized as an Outstanding Graduate by the College of Arts, Sciences, and Education. Post-graduation, Jordan will join Google's Associate Product Manager program, becoming the third student from his university and the first BVIslander to do so.

 

  1.   Investing in our youth and fostering international relationships are key to the Virgin Islands' vision. We believe our young people are the future, and building partnerships with other nations is vital for growth. The BVI London Office recently hosted the 2025 Overseas Territories Youth Summit, where young leaders addressed important issues and influenced positive change.

 

  1. Thirty (30) athletes represented the Territory at CARIFTA in Trinidad, earning three medals and personal bests, while our national chess team also impressed in their tournament in Trinidad.

 

  1. My Government continues to provide financial support through grants accessible to student athletes. Significant contributions have also been made to national sports associations, ensuring they have the resources to operate sustainably and grow their reach. The Elite Athlete Programme provides targeted funding to support high-performing athletes competing at the international level—ensuring that Virgin Islanders have every opportunity to succeed in sport from grassroots to global competition.

 

  1. As part of its long-term commitment to developing sports infrastructure, the Ministry of Education, Youth Affairs and Sports is moving to execute works with an allocation of approximately $850,000 for the maintenance and upgrade of recreational facilities throughout the Territory. This investment is critical to ensuring that our athletes, teams, and communities have safe, accessible spaces to train, compete, and thrive.

 

  1. Additionally, Elmore Stoutt High School and H. Lavity Stoutt Community College united to host the Annual College Fair, connecting students with higher education opportunities.

 

  1. The Eslyn Henley Richez Learning Centre (EHRLC) is the first purpose-built special education facility in the OECS and is targeted for practical completion on June 30th. We are proud to have this historic reopening of EHRLC and look forward to providing a permanent home for our special-needs population.

 

  1. My Government is committed to rebuilding the Althea Scatliffe Primary School in its current location. The 5-year MOU was signed with Unite BVI for its rebuilding and plans are moving ahead to build a state of the art model school.

 

  1. HLSCC continues to align its offerings with the needs of the modern workforce through programmes that connect education directly to opportunity—designed around industry needs and international standards. These include the NCCER Core Construction and Concrete Training, which equips learners with the skills needed for the construction industry; the Marine Professional Training Programme, offering hands-on experience and an eight-week paid apprenticeship with local marine businesses; and advanced maritime safety training now supported by a newly completed Fire Simulator Facility. The College is also undergoing external programme reviews and preparing for reaccreditation with the UK Maritime and Coastguard Agency, demonstrating its commitment to maintaining international standards while addressing local workforce needs.

 

  1. The Ministry has given a clear mandate to HLSCC to pursue accreditation to support its evolution into a four-year degree-granting institution in strategic areas, expanding local access to higher education.

 

ACHIEVEMENTS IN ENVIRONMENT

  1. My Government’s commitment to environmental sustainability continues to drive legislative and policy action. Over the past year, we have advanced the Blue Economy Roadmap, strengthened marine conservation policies, and expanded biodiversity preservation projects, ensuring that our natural heritage remains protected while creating new economic opportunities.

 

  1. Protecting our natural environment is of utmost importance. The Ministry of Environment, Natural Resources, and Climate Change conducted a public consultation to develop new environmental legislation, ensuring that our policies reflect the values and priorities of our community.

 

  1. In 2024, through waste diversion and recycling programs, 52,000 lbs of scrap metal, 24,000 gallons of waste oil, and 29,754 lbs of plastics were successfully repurposed. The residential waste management program expanded to more communities, and the Public Bins Programme saw repairs and replacements across Tortola, Virgin Gorda, and Jost Van Dyke. Environmental sustainability remains a central focus for the Government. Major strides were made in recycling and waste diversion, and a new derelict vehicle tracking system was introduced to manage removals.

 

  1. The Long Bay Beach Management Plan and related initiatives reinforce our dedication to responsible tourism, coastal protection, and environmental stewardship. We celebrated the planting of sea grape trees at Long Bay, Beef Island, honouring Virgin Islanders and contributing to the restoration of our natural landscape.

 

  1. In 2024, we completed a European Union-funded project under Resilience, Sustainable Energy, and Marine Biodiversity (RESEMBID) to improve marine water quality monitoring. The project developed a data collection manual, drafted a gap assessment and accreditation roadmap report, and provided GIS training through a workshop with H. Lavity Stoutt Community College and CERMES. Five laptops, GIS software, and the M/V 'Vigilate' vessel were acquired to expand geographic coverage.

 

  1. 2024 was the final year of the Darwin project. Funds from the Darwin Plus Grant (DPLUS147) were allocated to assess reef conditions following the impacts of Stony Coral Tissue Loss Disease (SCTLD) and the 2023 bleaching event. The Environment Unit conducted surveys to evaluate coral reef status, benthic community composition, herbivorous fish populations, and invertebrates at 11 sites. This work was conducted in collaboration with Louisiana State University (LSU), Reefs Unknown based in St. Thomas, and Beyond the Reef.

 

  1. Also in 2024, a series of consultations were held to review and update the Virgin Islands Climate Change Policy with a supporting implementation plan that includes costed priority adaptation projects. The final Policy update is expected to conclude in 2025.

 

  1. To fortify the administration and stewardship of our public lands, particularly concerning the allocation and management of Crown Lands within our Territory, the Crown Lands Management Legislation was passed in the House of Assembly in June 2024. At its core, this legislation ushers in a new era of transparency, accountability, and efficiency in the utilization of our land resources, inclusive of sustainable use and environmental considerations.

 

  1. Over the years, there have been various breaches with projects under construction in the Territory. The Town and Country Planning Department has recognised the need for strengthened legislation to provide the Department with the legal framework to address violators in a timely manner. Following a successful fact-finding mission to Bermuda last year, where Department officials saw the effectiveness of civil penalties and related fees, the Department will be seeking, in the coming year, to amend the Physical Planning Act to introduce a similar regime to safeguard the quality of the outputs from the construction industry in the Territory.

 

 

ACHIEVEMENTS IN GOVERNANCE

 

  1. Over the past year, the Territory has undertaken significant governance reforms. The completion of the forty-eight recommendations from the Commission of Inquiry Report and the Government's Self-Assessment Report marks a pivotal moment in governance. With Cabinet's approval of a Transition Plan for institutionalising reforms, educating the public, and making systemic changes in public service, the Virgin Islands is preparing for future self-governance. These reforms also strengthen the Territory's position for Constitutional negotiations and the potential removal of the Order in Council to partially suspend its Constitution.
  2. A Strategy and Policy Development Unit has been created in the Premier’s Office to coordinate the good governance standards of the Ministry and the modern governance approach emanating from the implementation of the reforms.
  3. In an effort to provide guidance for the use of discretionary powers across Government, a Discretionary Powers Guide provides a clear criteria for the exercise of discretionary powers, ensuring that they are used appropriately and responsibly and sets out mechanisms to ensure accountability and transparency in decision-making. Several training sessions have already been held to sensitise public officers on the policy and the aim is to monitor, on a quarterly basis, the policy’s implementation.
  4. A Statutory Board Policy was developed to promote a more rational, organised and standardised approach to the establishment, development, management oversight and, if necessary, dissolution of Statutory Boards to ensure that they are functioning for their primary purposes in the public interest. Together with a Financial Governance Policy, these documents will serve as the tools by which the Premier’s Office will monitor adherence to good governance standards across statutory boards.
  5. To strengthen the legislative framework for statutory boards, five statutory board legislation were amended to enhance their governance standards and operations.  These standards were used to strengthen legislations for the following five statutory Boards:  BVI Ports Authority; H. Lavity Stoutt Community College; BVI Health Services Authority; BVI Tourist Board; and National Parks Trust Act. Enhanced provisions include:  Board membership qualification criteria; declaration of interest; oaths of confidentiality; code of conduct; membership tenure and transition; gender neutral language; disclosure and conflicts of interest.
  6. Communication is key to transparent government. In 2024, my Government successfully re-established the Department of Information and Public Relations, marking a significant organisational milestone. New positions have been created to support the future launch of the GIS TV programming initiative and to strengthen both the production and social media units. A new communication outlet has also been introduced through a dedicated WhatsApp Channel, enhancing the accessibility and integrity of Government information sharing.
  7. In line with these developments, the department is embarking on a comprehensive digitisation project. This effort includes the preservation of archival materials such as hard-copy photo albums, brochures, and other visual content, along with cassettes of audio recordings from government events and speeches dating back to the late 1980s.
  8. In 2024, Government issued a tender for the development of a comprehensive digital transformation strategy. This strategy will leverage digital technologies to enhance public services and drive the modernization of government services and digital public infrastructure.
  9. As the Town and Country Planning Department seeks to support the ongoing public service digital transformation initiative, in 2025, the Department will seek to procure an application tracking software which will seek to streamline approval processes for planning and permitting, replacing the outdated platform. This software will provide essential statistics for rapid sharing with various ministries and departments and facilitate direct and improved customer interactions. A request for proposal is being prepared with the hope of being completed within three weeks.

 

  1. The Department of Labour and Workforce Development launched the work permit feature of the Labour Management System (LMS). All applications are now paperless and online. Training workshops for employers and employees are ongoing, with a dedicated support team available for assistance. New LMS modules, like the payment portal and Labour Relations automation, are being introduced. These updates mark significant progress for both the Department of Labour and the Territory.

 

  1. Work has been ongoing, in collaboration with the International Labour Organization (ILO), to develop a National Employment Policy (NEP). The NEP will ensure Virgin Islanders have a strong foothold in the evolving labour market. While foreign workers remain crucial contributors to the Territory, a NEP will strike a vital balance in cultivating a skilled and adaptable local workforce, while attracting specialised foreign talent to fuel economic diversification.

 

  1. Through the Department of Labour and Workforce Development, my Administration continues to offer robust support to job seekers through various programs, including résumé writing, customer service training and education on labour laws. These ongoing initiatives aim to increase job readiness and employment opportunities for residents across the Territory.

 

  1. Considerable work was done to prepare for the increase to the minimum wage. Beginning 1 July 2025, a new minimum wage of $7.25 will take effect. This initiative reflects my Government’s commitment to ensuring fair compensation for our workers, particularly those who are most vulnerable to economic pressures. Through extensive public consultation and dialogue, we have been able to appreciate the varying concerns from the different stakeholders, including business owners. Hence the increase is being implemented in a phased approach, carefully considering the economic climate and potential impacts.

 

 

  1. Over the past year, the RATED programme continued to play a vital role in providing opportunities for persons to get employment and get on the path to develop greater earning potential. It has proven to be a good source of labour for roadside clean-up with the implementation of the Registration and Employment functions. We have now completed plans and will be soon executing the Apprenticeship, Training and Development functions to help more of those persons in the program transition to greater opportunities.  

 

 

  1. The adoption of the Immigration and Passport Amendment Act 2024 marked a significant milestone in reforming the process for awarding status in the Territory. A Residence and Belonger Status Policy was developed and new guidelines published.

 

  1. We were able to achieve full compliance by commercial air and sea carriers with the Advance Passenger Information System (APIS). We began the redesign, development and construction of the National Immigration Detention Centre, and enhanced protection of the Territory’s Borders through innovative technology.

 

 

  1.  During 2024, the Inland Revenue Department launched the Payroll Tax Module of the recently upgraded SIGTAS 3.0 Receivable System. Considerable effort has been made to ensure both individuals and enterprises are registered on the platform. As of April 2025, there are 20,0027 Individuals and 2,812 Enterprises registered in the platform for Payroll Tax, Hotel Accommodation Tax, Motor Vehicle Rental Tax, Cheque Duty, and Liquor Licences. Revenue collection for 2024 from these tax categories amounted to approximately $51 million. In 2025, the emphasis will be on ensuring that all taxpayers are registered on the system, and improving collections.

 

  1. Our Treasury Department has made considerable progress towards completing the outstanding financial statements for years 2019 to 2022. These are expected to be forwarded to the Auditor General in the second quarter of this year. The work to complete financial statements for 2023 is currently underway.

 

  1. The Treasury Department has taken steps to align with our overall Digital Transformation strategy through the processing of payments to vendors via direct deposit in their bank accounts, which has significantly reduced the reliance on printed cheques, thereby achieving cost savings. As a part of Online Payment Gateway, the Treasury Department in partnership with the Department of IT, will be rolling out a new platform that allows global payments to Government using debit/credit cards. The Department also anticipates full deployment of a digital payment processing system and implementation of "Check Plus" to streamline disbursements.

 

  1. In 2024, the Virgin Islands Deposit Insurance Corporation (VIDIC) began operations to protect depositors and ensure financial stability in the Virgin Islands. By July 2024, VIDIC collected $4.3 million in premiums from seven member banks, with funds invested conservatively. In March 2025, VIDIC became a full member of the International Association of Deposit Insurers (IADI).

 

  1. VIDIC improved its Governance by forming the Audit, Rules & Policy Committee, and the Asset and Liability Committee in early 2025. A six-month public awareness campaign will launch across the Territory. As of February 2025, the fund level is $6.65 million, establishing VIDIC as a reliable safeguard for depositors and a key player in the Virgin Islands' financial stability.

Fiscal Matters

  1. As a Government, we recognized the need for serious investment in our public infrastructure including roads, water supply and distribution network, national sewerage network, and other critical facilities. In response to the need, the Government, on 31 October 2024, signed a loan facility with CIBC First Caribbean (Cayman) Limited for $100 million, which is the largest single loan in the history of the Virgin Islands. In addition to benefits of having improved and sustainable public infrastructure, the loan is also expected to be a catalyst for economic activity throughout the Territory.

 

  1. My Government secured a sovereign rating of BBB/A-2 with a stable outlook from Standard & Poor's Global Rating, reflecting our investment in the Territory’s institutional framework and economic development, along with our commitment to accountability, transparency, and fiscal responsibility. This achievement positions the BVI as a reliable hub for global financial services and enhances investor confidence.

 

  1. The credit rating offers benefits like lower borrowing costs for government projects, improved infrastructure and public services, and better access to financing for businesses in the BVI, fostering economic growth and market stability. We remain dedicated to maintaining long-term stability and leveraging this rating for future opportunities.

International Relations

  1. Our commitment to building strong international relations has also been a key focus. I was honoured, as Premier, to be elected President of the UK Overseas Territories Association (UKOTA), a role that will enhance cooperation among member territories.

 

  1. I am also pleased to have served in various United Nations capacities, including Vice Chair of the United Nations Economic Commission for Latin America and the Caribbean, Chair of the ECLAC Associate Members Working Group and Chair of the newly formed Caribbean Subregional Sustainable Development Network.

 

  1. We continue to be very engaged with the Caribbean community. Most recently, Deputy Premier and Minister for Environment, Natural Resources and Climate Change, represented the Virgin Islands at the 48th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) in Bridgetown, Barbados. His attendance provided a vital platform for highlighting the Virgin Islands' commitment to regional collaboration and strengthening ties with other Caribbean nations.

 

  1. The Deputy Premier actively promoted the importance of enhancing economic resilience and fostering strategic partnerships which will create avenues for investment and cooperation. Engaging with international leaders, including the UN Secretary-General and the President of the European Commission, he advocated for the Territory’s interests on critical issues like regional security, agriculture, and climate change.

 

  1. As mentioned, through diplomacy, my Government has been able to secure an agreement with our neighbour, the US Virgin Islands, that clears the way for the BVI to move forward with revising and modernizing the 33-year-old Commercial Recreational Vessel Licensing fee structure, with minor adjustments in the spirit of regional partnership. Coming out of the discussions, the BVI and USVI have reaffirmed reciprocal commitment to regional cooperation and maritime collaboration, and a shared vision for a thriving charter industry and mutual economic prosperity.

 

Constitutional Advancement

  1. As the Territory continues on its path toward self-determination, the Premier’s Office coordinated the visit of a United Nations mission to the Virgin Islands from 26th to 27th August, 2024. The visiting mission engaged in a series of meetings with various stakeholders across the Territory during their visit. Its aim was to gather information regarding the political, economic, social, and environmental conditions in the territory, with a focus on the constitutional review process and the territory's path toward self-determination. The report on the Mission’s findings stressed the importance of an inclusive, transparent process for determining the political future of the British Virgin Islands, with particular emphasis on the roles of youth, women, and all other stakeholders in shaping this future.

 

  1. In the realm of sustainable development and planning, the Ministry of Tourism, Culture and Sustainable Development (MTCSD) led cross-government engagement to implement the National Sustainable Development Plan (NSDP). It piloted an internal framework that aligns ministerial policies and budgets with the six national goals and seventeen national outcomes, positioning the Ministry as a model for strategic policy coherence. We also established a Sustainable Development Working Group and facilitated training sessions to build internal capacity for monitoring and evaluating progress on key national outcomes. The NSDP has been mainstreamed into national policy.

 

  1.  The MTCSD also strengthened its engagement with external partners. Through continued work with regional agencies, such as the United Nations Resident Coordinator’s Officer, the OECS and CARICOM, we have advanced our access to technical support for sustainable development financing and national planning reform. At the local level, the Ministry improved transparency through its new internal policy dashboard, ensuring greater monitoring of project timelines, procurement readiness, and spending.

 

Public Service Transformation & Good Governance

  1. My Government remains steadfast in our commitment to modernizing and strengthening the public sector. In the past year, we have expanded the Customer Service Care Centre, launched the Retire Ready Programme to prepare eligible public officers for a smooth transition into retirement, and passed the Public Service Management Act, 2024 - laying the foundation for an efficient, transparent, and responsive public service.

 

  1. The enactment of the Public Service Management Act introduced a robust legislative framework, enabling government offices to streamline processes, enhance accountability, and improve service delivery.
  2. Since the inception, my Government has ramped up the passage of a suite of legislative reforms to strengthen its governance, financial services sector, social protection, and environmental preservation, among other objectives. Some of these legislations stemmed from recommendation of the Commission of Inquiry (COI) and Review on Law Enforcement, but it is important to mention that many of the reforms were either previously in-train or resulted from Government’s focus to strengthen its systems and governance structures through reform.
  3. In December 2024, the Cabinet approved the amendments of the threshold values in Regulation 9 of the Public Procurement Regulations from $10,000 to $25,000, and $100,000 to $250,000. These amendments were key to promoting public confidence in the integrity of the procurement process, particularly in the length of time taken to procure low-valued goods, works and services. The amendments also provide small-scale and new contractors with the opportunity to participate in public procurement, thus strengthening our commitment to a fair and transparent procurement process.

 

Justice & Security Enhancements

  1. My Government remains committed to fulfilling our Constitutional responsibilities in law enforcement and justice. This requires providing funding and other forms of support to initiatives, even those that are Constitutionally reserved to the Governor.

 

  1. We have emphasized justice and national security through strategic workforce planning in law enforcement agencies. Expanding CCTV surveillance in Tortola and Virgin Gorda has improved crime prevention and response. Major crime crackdowns, firearm seizures, and restorative justice initiatives have made communities safer while promoting rehabilitation. The new Magistrate’s Court opening in April 2024 and recruitment of judicial personnel highlight our dedication to timely justice.

 

CLOSING

  1. Over the past year, my Government has remained steadfast and resolute in our pursuit and commitment to Building a Sustainable Nation. In 2024, we Planned, Prioritised and Progressed the agenda of the people of the Virgin Islands and set the foundation for success. In 2025, we began Laying the Blocks of Success following the blueprint of the National Sustainable Development Plan. Our story has been one of challenges met with ingenuity, and opportunities seized with vision. The same vision the late H. Lavity Stoutt admonished us to pursue. A vision where each succeeding generation moves the Territory closer to realizing its full potential.
  2. As we enter our third year, our mission remains clear: to build a resilient nation - where progress is sustainable, development is inclusive, and every Virgin Islander thrives.
  3. My Government and I reaffirm our commitment to stability, prosperity, and national strength, ensuring that the Virgin Islands remain resilient, forward-thinking, and prepared for the future. These are Blocks of Success! And we will continue to Lay them throughout 2025!
  4. In closing, I want to express my sincere gratitude to the members of this administration.  I am inspired by your vision, your commitment, and your focus.  I want to thank our dedicated public officers: the Financial Secretary and Permanent Secretaries, every employee of the Ministries and Departments, our statutory boards, our commitees, and commissions, the Cabinet Office, the Attorney Generals Chambers, the House of Assembly, those who serve on the Judicial branch of government. 
  5. To every Virgin Islander, resident, business, and partner who has contributed to the progress of our Territory, I say thank you.
  6. As we look to the future, let us continue to work together with unity, purpose, and a shared vision for a stronger, more prosperous Virgin Islands. This has been the key to our progress over the past seven years of adversity. Let us continue to embrace the goodness of God and seek always to find the good in each other and in every challenge we encounter. With the strength, resilience, faith, and courage of our ancestor guiding us and living in us, we will get there! Together!

 

  1. Thank you, and God bless these beautiful Virgin Islands.