The Minister of Economy and Labour promoted Bermuda as a destination for investment last week at a conference in the United Arab Emirates.

A government spokesman said that Jason Hayward attended Investopia in Abu Dhabi to highlight opportunities in Bermuda and discuss enhancements to Bermuda’s family-office framework.

The spokesman said: “Mr Hayward engaged in dialogue with his counterpart in the UAE, His Excellency Abdullah bin Touq Al Marri, Minister of Economy. Mr Hayward reaffirmed Bermuda's commitment to foster deeper bilateral economic relations with the UAE.”

Mr Hayward also met other UAE figures, including Abdulaziz Alnuaimi, Assistant Undersecretary at the UAE Ministry of Economy, whose responsibilities include UAE family office developments, and Yasmin Almostehy, the executive director of the Emirates Family Office Association.

“The Ministry of Economy and Labour is pleased to advise that the EFOA is in the final stages of establishing a branch in Bermuda and plans to send a delegation of UAE family offices to Bermuda later this year,” the spokesman said.

“The ‘Family Wealth 2.0’ panel delved into the evolving global investment landscape for family offices. Among the many topics, panellists discussed the growing role of digitalisation and digital assets in investment strategies and in providing new avenues for family offices to enhance wealth.

“The minister obtained new techniques and ideas for strengthening and developing Bermuda’s services to cater to the evolving needs of family offices as they move past the first and second generations.”

Mr Hayward also met Ahmed Al Nowais, the CEO of Annex Investments, to promote Bermuda as a destination for hospitality and tourism investment.

The minister said insights gained from the meetings were “crucial for Bermuda as we seek to bolster our position on the global stage as they align with our strategic goals to foster resilient and sustainable economic growth that will benefit us all”.