In the annual report of the International Companies Division (ICD) of the Bermuda Chamber of Commerce, Mr. David Ezekiel, chairman, stressed the importance for the ICD of establishing a strong, separate identity in the Island.

He expressed his pleasure with the way internal communication within the division had improved, then added: "Of greater importance, in my opinion, is the need for ICD to clearly establish its identity in the eyes of government, the business sector and in the community as the one organisation which represents the interests of those international companies who have chosen to establish a physical presence in Bermuda.'' In his speech introducing the annual report he explained that of the 12,500 companies registered in Bermuda only about 3 percent, around 360, have an actual physical presence. But these companies produce around 80 percent of the income generated by companies in the Island.

Of the past year's activities he said issues dealt with included work permits and immigration, the Commission for Unity and Racial Equality -- CURE -- legislation, payroll tax, land tax, the OECD initiatives and the KPMG report as well the continuing work on the division's scholarship programme, the careers centre and other matters.

The report states that over $250,000 was raised last year to fund scholarships for 21 students. Progress has been made in establishing the Bermuda Careers Centre with premises being secured and retention of a consulting firm for six months to get the project off the ground.

Both the report and Mr. Ezekiel in his address paid tribute to the late Michelle Outerbridge who tragically died in a road accident. She had just embarked on her further education at the University of Ontario with an ICEA scholarship sponsored by Centre Solutions in the Island.

It was announced that the committee had agreed to create a scholarship award in her name which will be presented annually to a young student.

The ICD participated during the year in two joint task forces. One made submissions to the minister in relation to the CURE regulations and the other submitted to government a response to the publication of the draft regulations on immigration. The division was also actively involved in discussions with the Ministry of Finance in relation to payroll tax and specifically in relation to a salary cap.

Mr. Ezekiel thanked the committee for their work and, in particular, Ms Diane Gordon, the new executive vice president of the Chamber of Commerce. Ms Gordon responded in the report: "It has been a pleasure working with the ICD division of the Chamber of Commerce during the past five months. I am still very much a newcomer to the chamber and ICD, however I have been impressed by the insight, energy, commitment and informed decision making of the ICD members and their representatives.'' BUSINESS BUC