HONG KONG, Sept. 25, 2015 /PRNewswire/ -- "The BVI is sitting on a sweet spot with the rise of China," Dr. Qian Liu, Director of Economics Unit, The Economist Group, Beijing, told industry experts and leaders attending the Business BVI ASIA 2015 Annual Regional Conference, held at the Grand Hyatt on September 23, 2015.
Themed "Pivoting to Asia - A View Beyond the Horizon", the conference attracted more than 100 industry experts and leaders from the most progressive businesses in Asia and the BVI to exchange insights and knowledge about the offshore industry. BVI House Asia, the representative office of the Government of the British Virgin Islands (BVI) in Asia Pacific, was pleased to be the sole diamond sponsor of the conference for the second consecutive year.
"First, outbound direct investment from China has increased 35% since 2005," Dr. Qian said. "Chinese companies investing in international markets want the certainty that BVI structures, backed by BVI courts and English common law, provide, rather than relying on the courts of countries in emerging markets. Second, China's fast-rising middle class will want trust funds, private wealth management and other services that the BVI can arrange. Finally, the Chinese middle class wants to spend more on tourism, a trend that began in Southeast Asia and continues in Hawaii, Tahiti and the Caribbean. As a tourist destination, the BVI sits on the rising demand for tourism."
Dr. Qian made her remarks during a presentation at the conference entitled "China's One Belt One Road Regional Development Strategy: Long Term Opportunities for the Offshore Sector." Other presentations at the conference included "Future Disruption in the Offshore Space: Where will the next 'Uber' come from?" and "Emerging Wealth in China: Millionaire Households & Ultra High-Net Worth Households."
"We are still in the right place and at the right time," Dr. the Honourable D. Orlando Smith, OBE, Premier and Minister for Finance of the British Virgin Islands, stated in his keynote address to conference attendees. "The BVI is immensely proud and fortunate to have been working with Asian businesses and individuals as you achieved economic success and Asia experienced incredible growth over the last 25 years. Despite some current concerns, the economic experts predict a reasonably good outlook for Asia's future and we also think Asia will continue to make its mark with vitality, financial success and innovation."
Other notable speakers included Justice Barry Leon of the High Court of the Virgin Islands (Commercial Division); Jonathon Clifton, Group Managing Director of OIL; Matt Roberts, Partner of Harneys Hong Kong; Carson Wen, of counsel with Jones Day; Dr. Angelo Venardos, CEO, Heritage Trust Services, Singapore; Siju Daniel, Managing Director of FXCM Asia Pacific; Michelle L. Georges, Asia Representative, BVI Financial Services Commission; and Elise Donovan, Director of Hong Kong-based BVI House Asia.
"BVI House Asia is proud to support Business BVI Asia for the second time in Hong Kong, a key global financial centre where we have had a physical presence since 2013. We have recently launched a website to serve as a portal of information and will continue to expand our services to better serve BVI's business partners in the region," said Ms. Donovan.
On the evening before the conference Dr. Smith hosted a cocktail party attended by more than 220 business leaders, Hong Kong government officials and diplomats in the Central Plaza Building.
About Business BVI
Business BVI is the premier business and investment publication about the British Virgin Islands (BVI). The magazine contributes significantly to the soft power and branding of the territory globally. The magazine is a well-respected, high-quality publication designed to promote the BVI as an attractive jurisdiction for international business and investment. It focuses on the BVI's main economic sectors of tourism, financial services, construction, real estate and small retail businesses.
View the latest issue of Business BVI at: www.businessbvi.com.
About BVI House Asia
BVI House Asia is the representative office of the Government of the British Virgin Islands (BVI) in Asia Pacific. Based in Hong Kong, BVI House Asia was established in September 2013 to support and expand the strong relationship that the BVI has enjoyed with the Asia Pacific region for over 25 years. With a focus on financial services, the BVI provides a wide range of services to Asian businesses, such as asset protection, property holding, financial management, trading, copyrighting, bespoke trust services and investment business. The BVI is among the largest corporate registers in the world and is lauded for its efficient time to market, competitive incorporation fees, and strong and innovative legal system. Drawing on its deep experience in the region and mature infrastructure in Asia, BVI House Asia is committed to building effective, trusted and responsible relationships with its clients, business partners and vested third parties.
For more information about BVI House Asia, please visit: www.bvihouseasia.com.hk.
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