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BIBA supports call for strategic plan for international business development

Bermuda International Business Association chairman, Mr. Cummings Zuill, yesterday threw his support behind the call for a strategic plan for the development of the Island's international business industry.

The call was made by the outgoing chairman of the International Companies Division (ICD) of the Chamber of Commerce, Mr. Adolf Luttke.

Mr. Zuill has suggested that BIBA and the ICD use their close partnership in planning for the development of Bermuda's international business industry. He said, "With the office and housing needs that their physical presence in Bermuda requires, these companies provide a valuable injection of revenue into the construction industry, the utilities company and virtually all other local businesses.'' Mr. Zuill continued, "ICD companies also donate significant sums of money to local charities and are the source of ongoing financial support for cultural and sporting organisations and activities as well as scholarships.

"The social and economic contributions of the international companies that have a physical presence in Bermuda should never be taken for granted.'' Mr. Zuill agreed with Mr. Luttke's caution against unplanned growth in international business, with special attention needed in studying future trends in housing, office space and support services in an Island of limited resources.

Mr. Luttke, who works for the worldwide health care and pharmaceutical concern, Corange Ltd., was hoping to urge Bermudians and their leaders to initiate measures that would lead to an understanding of what the Island's tolerance level for business growth would be.

The Corange executive said yesterday, "Who wants to see 100 private jets arriving at the airport, with 100 executives and their families saying `you want our business so here we are. Where are we going to stay and where are our offices?' "Bermuda needs to ensure that business development occurs in an orderly manner.'' But Mr. Zuill said, "The various organisations involved in the industry -- the ICD, the Insurance Advisory Committee and the Ministry of Finance, to name just a few -- meet regularly to discuss the status of the industry.

"It would make sense that these meetings start to include discussions on how many more physical presence companies Bermuda can accommodate and what the housing, education, transportation and staffing requirements of those companies are likely to be.'' Mr. Zuill said that the international business industry should identify the comfort level that needs to be maintained.

"Without strategic planning, there may come a point at which the message of the overseas marketing programme doesn't match the reality of doing business here. We can't promote Bermuda as a premier international business centre if the environment has become overcrowded, visitors feel unsafe and service levels have fallen.''