The Ministry of Telecommunications and E-Commerce (MTEC) will reposition its E-Commerce marketing efforts to focus on companies already based in Bermuda. In a Press statement yesterday, the Ministry said the repositioning ? it previously focused most of its marketing efforts overseas ? would allow it to focus on local business as well as the estimated 75 percent of Fortune 500 companies already domiciled here.

The Department?s goal is to gain a clearer understanding of the needs and uses of each company?s e- business applications and services so that it may further develop e-business opportunities for the Island?s businesses as a whole.

Minister of Telecommunications & E-Commerce Michael Scott said: ?It has been the aim of the Bermuda Government to provide the best possible policy and legislative environment for businesses operating and hosting their E-commerce activities on the Island.

The Department of E-Commerce?s primary objective is to ensure that all key decision makers understand the role of Bermuda as an e-business destination and think of the island first when considering where to place their e-business platforms.?

Minister Scott continued: ?Local business interest and commitment to creating new business service models supported by innovative technology will drive global business to Bermuda?s shores because the product value added is highly available and affordable. This local innovation and intellectual capital will also play a major role in helping to position Bermuda as the cyberspace centre of the Atlantic.?

The MTEC focus teams will also target other relevant stakeholders including lawyers and accountants in Bermuda, New York, and London because of their substantial influence over where a company decides to incorporate.

Minister Scott said that Government will continue to promote policies to create an environment that will allow new and existing businesses to prosper.

He is scheduled to meet with lawyers in the UK later this month as MTEC continues to fine tune its marketing efforts.