Jersey's Treasury Minister, Phillip Ozouf, has proposed plans to provide funding worth GBP19m (USD30m) to Jersey Telecom to upgrade the island's Internet infrastructure with fibre optic technology to facilitate 1 gigabyte broadband speeds for island businesses.
The proposal follows advice received by the government from the States Economic Adviser which indicates that an island-wide network of super-fast broadband speeds would offer wide-ranging socio-economic benefits for Jersey.
“Now that we are on target for balanced budgets by 2013, we can invest in economic growth without incurring debt," Ozouf said. "This investment is key to attracting new businesses at a time when job creation is one of the most important tasks facing ministers. It will put us at the forefront of the rapidly evolving technological race into the future and help to create jobs and get our economy moving.”
"The roll out of super fast broadband across the island supports our plan for economic recovery," he added. "Fibre optic technology provides a gateway to a global online marketplace which will enable Jersey businesses to compete effectively. The marginal investment needed to move from the old copper wiring to 100% fibre optics for the whole population will put Jersey into a world beating position. We need to boost the economy and create an environment where new businesses can thrive. To do this we must stimulate innovation and fibre optic technology provides an environment that’s ripe for new enterprises.”
A comprehensive report in our Intelligence Report series examining the new possibilities that offshore e-commerce open up for business, and analysing the offshore jurisdictions that have led the way in offering professional e-commerce regimes for international business, with a particular focus on e-gaming, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.aspTags: offshore | business | internet | e-commerce | entrepreneurs | offshore e-commerce | international financial centres (IFC) | Jersey | commerce | Jersey
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