Seventy percent of active work permits have been granted waivers or extensions, Economy Minister Kim Wilson told business leaders yesterday.

There are currently 6,817 active work permits, she told members of the Association of Bermuda International Companies (ABIC) at their annual general meeting.

Thirty-five percent, or 2,394, of those permits have been granted waivers, she said. Another 35 percent, or 2,394 have been extended and 30 percent, or 2,037, are subject to six-year term limits.

The indication was that the 35 percent given extensions have been granted for a period of between one to 10 years, and in some cases up to 16 years, Senator Wilson added.

She said she was sharing the information after a meeting with ABIC executive director Richard Winchell in which the issue of term limits "seemed to dominate our discussions".

"We recognise that international business is a knowledge-based industry where highly training technical expertise is a required resource," she said.

"Many of you here today have come from overseas and you have helped shape our economy and build this sector, which also employs large numbers of Bermudians.

"Please know that you and your colleagues will continue to be welcomed in Bermuda however; we are working to better manage the process of issuing work permits and achieving that delicate balance of training and empowering the Bermudian people to take their rightful place in the workforce."

The Minister said that while the statistics from the Department of Immigration did not tell the full story behind each extension approved or denied, she thought the right balance was being achieved.

Sen Wilson said her Ministry was prepared to take the necessary steps to strengthen and enhance the Island's economy and build strong partnerships with industry through effective and consistent communication, with quarterly meetings to ensure that issues arising were resolved quickly and efficiently.

Based on the numbers, she said it was clear that international companies were not being asked to release valuable talent that may jeopardise their operations.

"This would be detrimental to all in Bermuda," she said. "What we endeavour to achieve however is equity.

"Equity is about realising a delicate balance, one where suitably qualified Bermudians and non-Bermudians co-exist in the workplace on equal terms.

"Understandably this is a sensitive subject in this arena; however we seek your support and assistance as we commence the necessary work to ensure that Bermudians receive the requisite training to better serve the needs of your sector."