Jobs. That was the One Bermuda Alliance’s election promise — to help Bermudians find jobs.

During our first two years in office we have concentrated on stabilising our economy and creating the conditions that will enable Bermudians to find work and career opportunities.

The Ministry of Home Affairs plays a critical role in achieving that goal with a mandate to “improve the economy by addressing the needs of the local and international business communities and the career aspirations of Bermudians”.

The Draft Work Permit Policy presented to the public this week is intended to keep Bermuda as the premier choice jurisdiction for international businesses in an ever-changing, highly competitive global economy.

The Work Permit Stakeholder Group, which is made up of major stakeholders, have been working on the new policy for the past year. Notwithstanding I have consulted with the Labour Advisory Council, the BIU, the Association of Bermuda Insurers and Reinsurers (ABIR) and The Association of Bermuda International Companies (ABIC) in the last few weeks. Further presentations will be made to the Chamber of Commerce, the Bermuda Employer’s Council, the Bermuda Hotel Association and the Bermuda Human Resources Association.

These meetings have been extremely fruitful with each organisation providing excellent feedback and support on the proposals. The policy will be finalised once all feedback has been received.

The public are encouraged to review and give feedback on the policy by October 17 before it is finalised. The document is on the Government website www.gov.bm and submissions can be e-mailed to workpermitpolicy@gov.bm.

Highlights of the draft policy include new categories of work permits including the Bermuda Employment Visa (BEV) and the Global Entrepreneur Work Permit.

The BEV allows for exempted companies to employ a limited number of guest workers without needing to advertise or to apply for a Standard Work Permit. BEVs issued to an exempted company will be limited to 20% of the total Bermuda-based workforce of that company and they must be accredited. Accreditation includes the requirement to implement training and succession planning opportunities for Bermudians.

The Global Entrepreneur Work Permit will enable individuals who are planning new start-up companies in Bermuda to apply for work permits which will enable them to live on the island while conducting their business planning.

Another new proposal is the new Business Permit which allows new companies to Bermuda to obtain work permits without advertising during their first six months. If ten or more permits are required, the new company will be required to provide information regarding their growth strategy and how they intend to employ Bermudians.

Our aim with this policy is to attract companies to relocate to Bermuda. This will lead to more people on the island who will rent accommodation, pay taxes, and use many local services that will contribute to Bermuda’s economic well-being.

The draft policy also outlines requirements for employers to satisfy Government that they have informed all unsuccessful Bermudians, Spouses of Bermudians, and PRC holders of the outcome of their applications, prior to the submission of a work permit application. Companies must also advertise all positions on the Government Job Board.

Companies will also be required to provide equal opportunities to Bermudians, spouses of Bermudians and PRC holders for inclusion in any established graduate training or exchange internship programmes.

The aim of these policy changes is to demonstrate to the local and international community that Bermuda continues to be open for business and to help turn around the economy in ways that benefit Bermudians directly and indirectly. Essentially the new policy cuts unnecessary red tape and makes the system more user friendly and transparent while providing new training and career opportunities for Bermudians.

The intent is for the new policy to come into effect on December 1, 2014. New fees associated with the new work permits will require legislative approval, which will be laid before Parliament in November.

Bermuda has always needed guest workers to make our economy work. This new policy strikes the balance between protecting Bermudians and encouraging foreign investment. Attracting new companies and their employees to Bermuda benefits us all. More people means more job opportunities for Bermudians in those companies, as well as local businesses that will benefit from increased spending on goods and services. International Business is also critical for our foreign exchange, bringing in foreign currency that we rely on to pay our debt and buy goods from overseas.

The proposed changes to the Work Permit Policy are intended to fulfil our promise — to stimulate our economy and create jobs for Bermudians.