Bermuda To Target Aerospace Companies

by Phillip Morton, Investors Offshore.com

20 September 2011

In meetings with members of the financial community with investments in the space sector, Bermuda's Minister of Environment, Planning and Infrastructure Strategy, Walter Roban, announced that the government is seeking to reform the investment climate for the sector, to establish Bermuda as an attractive, tax-efficient territory in which to base operations.

Roban told business leaders:

“I am determined to build on the comparative advantage we have built for ourselves over the years. We have the know-how, the enterprise culture, the infrastructure, the regulatory framework, and the orbital real-estate. It’s not hard to see why we should pursue this.”

The government is expected to publish a blueprint on how it will develop a conducive environment for the industry imminently. In the meantime, the government has engaged with industry leaders in the UK and in Paris to drum up interest from companies in establishing operations on the island.

In addition, Roban has met with senior members of the UK's telecommunications regulator Ofcom to forge a relationship that will enable Bermuda to act diligently in matters of international regulation where Ofcom's participation is required.

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