Minister Kye Rymer Refutes Claims of USVI
Communications and Works Minister Kye Rymer recently addressed concerns in the House of Assembly about the USVI outpacing the BVI in attracting business. He highlighted new charter companies relocating to the BVI and the success of local businesses as evidence of the territory's competitive edge, despite challenges from the 2017 hurricanes and political instability.
In a recent session of the House of Assembly, Communications and Works Minister Kye Rymer took a stand against the prevailing narrative that the United States Virgin Islands (USVI) are overshadowing the British Virgin Islands (BVI) in terms of business opportunities. This conversation, sparked by Opposition Leader Myron Walwyn's assertion that the USVI, particularly St.
Thomas, was 'eating the BVI’s lunch' by drawing business away, was met with compelling counterarguments by Minister Rymer. Rymer pointed out the recent relocation of two to three charter companies to the BVI as evidence of the territory's attractiveness to businesses. He argued that this move contradicts the idea that the BVI is losing ground to its neighbors.
Moreover, he noted the struggles faced by K-Mart in St. Thomas and Tutu Park Mall, contrasting them with the success of BVI-based businesses like CTL and Drakes Traders, which continue to draw in customers and thrive. Highlighting government initiatives, Rymer mentioned a new small business grant program approved by Cabinet, aimed at supporting local entrepreneurs.
He emphasized the territory's resilience in the face of adversity, particularly the ongoing recovery from the devastating impacts of the 2017 hurricanes, which have placed considerable strain on both the economy and government finances. While acknowledging the challenges, Rymer refuted the notion that the BVI is being significantly outperformed by the USVI due to government inaction or inefficiencies.
He stressed that the territory continues to create and sustain opportunities for businesses, despite some individual businesses struggling due to their own management issues. The Minister also touched on the topic of political instability, warning that recent motions of no confidence could jeopardize the territory's recovery efforts.
He metaphorically described such actions as akin to 'throwing a grenade into a room of our recovery,' underscoring the potential disruptions they could cause. Minister Rymer’s comments in the House of Assembly serve as a robust defense of the BVI’s business environment and the government's efforts to foster economic growth and stability.
His statements challenge the narrative put forth by critics and highlight the BVI's ongoing competitiveness and resilience in the face of various challenges.
Primary source: BVI News