Video: Premier, Minister & Moran In Davos

January 25, 2018

Premier and Minister of Finance David Burt, Minister of National Security Wayne Caines, and Head of Business Development at the Bermuda Business Development Agency Sean Moran at Hub Culture spoke with Hub Culture while attending a conference in Switzerland.

The Premier, Minister and Mr Moran are currently in Davos-Klosters, Switzerland, where the 48th World Economic Forum Annual Meeting is taking place; with the Forum attracting global and regional leaders, international organisations, corporate executives, and entrepreneurs from more than 100 countries.

Speaking with Hub Culture, Premier Burt said, “We’re a new administration. We’ve only been in office for six months, but as the youngest leader in my country’s history and having a technology background, I’ve set out an agenda to make sure that we can have economic growth and an increase in jobs through a future in technology.

Hub Culture in Davos January 2018

“We’ve set some very aggressive targets. We’re moving in to making sure that people know that Bermuda is an option to take advantage of our excellent regulatory reputation, to transfer those to new industries, and what better place to go than to the World Economic Forum in Davos to raise the visibility of Bermuda, so people can learn more about what it is that we’re looking to do and how that we can create additional economic growth, which will provide more jobs to people at home.

Minister Wayne Caines said, “Part of my portfolio is eCommerce and ICT policy and innovation. Being here at Davos, we have been able to meet with innovators in the blockchain and in the cryptocurrency sphere.

“We believe that this is an emergent area in business and Bermuda wants to take advantage of that and bring those opportunities and those companies to Bermuda, to set up their companies in Bermuda.

“We are making sure that the legal and regulatory framework are there and we’ve basically said to the world, come and look at Bermuda if you have a crypto or a business in that space, blockchain business, look at setting it up in Bermuda.

When asked what makes Bermuda special, Mr. Moran said, “The Premier touched on it as well already, the reputation of Bermuda for being a clean and sophisticated jurisdiction for international business.

“Not just insurance, but also, asset management and funds, trusts, and private client businesses are all thriving in Bermuda. So, really what we want to do is add another pillar to what is already a very strong offering.

“Getting this message out here to a potentially new audience, is why we’re all here, but the message is very clear, that Bermuda is different from a lot of other offshore jurisdictions, primarily for the reasons that we’ve talked about.”

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Comments (27)

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  1. When you see Trump, tell him go suck an egg.

    • Double S says:

      But why? You and him have much in common. Intolerant of other cultures. Hate immigrants. Dislike gay people.

      How can you not see you are exactly what you profess to hate?

      • wahoo says:

        Ooooh burn. Oj is like chump/trump… much so he cannot see it but after all ugly is more than skin deep.

      • aboogiewitdahoodie says:

        Onion Juice = Donald Trump

    • Onion says:

      They are his ideological ally.

    • bdaboy says:

      Poor OJ, such a fat loser. LOL

  2. Bermudian Thinker says:

    Sorry, but is it just me , but what does the BBDA do? I don’t see any stats coming from them about what business they have brought to the island and, how they segment out their efforts and results from things that have happened outside of them.

    I see a lot of trips to far destinations and wonder what is this actually getting us?

    • somuchless says:

      It’s about da free trips. Don’t you remember.

    • Spanner breath says:

      Same thing when an other premier went to China, remember the influx of Chinese tourist we had:)

      • Stay calm says:

        That was the old BIBA/Business Bermuda. These guys, the BDA, are the real deal. Just go look at the media centre on their website, you’ll see loads of i formations bout that they do and why they are so positive For the island. They’re not like the other guys and don’t toot their horn with fake stats.

    • good point says: says: The BDA encourages direct investment and helps international companies start up, re-locate or expand their business in Bermuda. An independent, public-private organisation, we connect prospective business to industry professionals, regulatory officials, and government contacts to make setting up a business here easier. Guess you can see how they’re doing that there…also seems as though they are pretty active on social media.

  3. puzzled says:

    Sucking to Trump who happens to be there also.
    Look out Bermuda.

  4. Ringmaster says:

    If the push from Premier Burt gets any traction, look out for large numbers of expats. Bermuda does not have adequate numbers of people or skills. How will that go down with the PLP faithful? Jobs, yes but not for Bermudians.

    • Hmm says:

      While I do not always agree with the choice and direction of the PLP I must say that what they’re doing is smart. Your comment “jobs yes, but not for Bermudians” shows a lack of outside the box thinking and knowledge on basic economics on your part. More expats on the island is beneficial for Bermudians because these people will be a) renting from Bermudians b) shopping at Bermudian owned business and c) they will increase the population, resulting in increased imports to the island meaning more tax money for government. As a result the PLP can increase the size of the civil service employing more Bermudians. But that is also a double edged sword, there must also be job growth for Bermudians in the private sector too

      • nerema says:

        Unbelievable hypocrisy. When the OBA did exactly what you’re describing they got nothing but marches and demonstrations. Now that Burt does it, suddenly you develop half a brain and understand that expanding the economy is a good thing.

        The only problem with what you said is the part about expanding the civil service. Believe it or not, the prime aim in life for most of us is not about expanding the civil frikkin service. There’s already enough overpaid lazy layabout civil servants. We should get rid of them and make them get proper jobs.

      • Ringmaster says:

        I’m not sure which comment you are replying to, but if it’s mine you are way out of your league. The OBA were roundly blasted by the PLP, BIU Peoples Campaign and others of the then combined opposition for being anti Bermudian and pro Foreigner, which is exactly what the PLP are now doing. How many born Bermudians know what Blockchain is? How many are unemployed? Bermuda is competing with places like Singapore who are many light years ahead of Bermuda. They can offer workers who are prepared to work, are multi lingual, cheaper then Bermudians and costs are way less. Yes, you will need to bring in expats and Bermudians might get some jobs, but hopefully not in an already overstaffed and bloated Government. Surpluses first have to be used to pay down debt.

  5. facts of the rock says:

    just another excuse to spend,spend,spend!

    Unless you have been there you have no idea how much they are wasting of your Tax Dollars.
    Switzerland is extremely expensive and we think Bermuda is.

  6. Just Sayin' says:

    Please do as other attendees plan and quietly walk out when Trump begins to speak.

  7. Bermuda says:

    Sounds like they want more foreigners here.

    • facts of the rock says:

      as a matter of fact,the truth is,they do!
      ex pats spend money on RENTS,FOOD,BIKES,CARS,and much more…
      this in turn creates jobs.

      Look around and see how many empty houses and apartments are available in Bermuda,NO longer can landlords be picky who they rent to,it’s a RENTER’S Market.

      • Zevon says:

        So why all the racist marches against PRC’s?

        Oh I forgot. That was BEFORE the election.

  8. Kipp W says:

    The Davos conference is where elitist snobs gather to debate climate change after arriving in a private jet. The attendees of the conference believe us common folk are far below their all-knowing minds. I can’t quite grasp why the Premier has wasted tax money jetting off to Switzerland to chat with a bunch of entitled globalists.

    I don’t understand the criticism of Donald Trump in the comments, he has been sticking to his promises very well.

  9. Stevie says:

    More waste of money by PLP on trips.

  10. John S says:

    The Premier has heard and knows that for our economy to grow significantly we need a solid increase in our population of roughly 10,000 to 15,000 persons. These will be expatriates. That isnt a bad thing, but will be a tough sell when the slogan before was “Bermuda for Bermudians.” Young Bermudians are not being prepared for this space even though a technology infused curriculum is suggested. Can any of those three individuals name corporate entities by name and clearly show where they have committed, in writing, to this initiative?
    I doubt it, so it becomes another expense paid trip for? This has happened with all administrations. Accountability should dictate that clear expectations in advance are shared. Not made up initiatives either. This is the purpose of us attending, our goals are specific and we will update our progress in three month intervals to the people who paid for the trip.

  11. Crypto, blockchain? says:

    Do they understand how much energy is needed to mine cryptocurrency? No one in their right mind would select an island where energy costs three times more than everywhere else to set up shop.

    In addition, these will all be expat jobs…….

    Ladies and Gentlemen, David Burt and the PLP

  12. bdaboy says:

    “Do they understand how much energy is needed to mine cryptocurrency? ”

    No, they don’t…they don’t even understand basic economics….they have no idea how this works, they have no idea how much energy is required for a transaction.

    This shouldn’t be a surprise to anyone.