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Bermuda Targets Fortune 500 Companies In E-Commerce Strategy

by Amanda Banks, Tax-News.com, London

19 October 2001


The Bermuda government is aiming to promote the island as the ideal place for Fortune 500 companies to establish a successful e-business presence. According to Nigel Hickson, an e-commerce consultant to Telecommunications and E-Commerce Minister, Renee Webb, Bermuda has the facilities and resources to host the e-business units of leading US companies such as Microsoft and General Motors, and the Island's offshore hosting services offer tax advantages as well as a safe and secure setting.

In an interview with the Bermuda Sun, Mr Hickson said: 'My job is to work with Minister Webb and the Ministry to develop the next phase of E-business development in Bermuda. The first phase was to develop a framework for E-commerce legislation and set up the various codes of practice for electronic intermediaries and now we feel the need to take this forward and specialize on what we can do well.'

He added: 'We would like to attract businesses to the island to do E-business but we have to convince them Bermuda is a good place to come. There is a lot of competition for E-business, places like the Isle of Man, Ireland and the Cayman Islands all have attractive E-business centres so we need to determine what Bermuda is good at. Bermuda has a lot of strengths. Now we have to target existing bricks and mortar businesses such as General Motors, Microsoft and other Fortune 500 businesses.'


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