BDA wins accolade from CPI
The Bermuda Business Development Agency has been named the best direct investment partner in North America, 2020, by Capital Finance Magazine.
The award recognises the ongoing efforts and historic work of the BDA to encourage inward direct investment to Bermuda.
CFI.co has featured the award, in addition to an editorial and profile article, in the latest edition of the magazine for its international readership.
The judging panel was impressed by the BDA's work to promote and encourage inward direct investments that have strengthened the island's economy, its business-friendly reputation and regulatory framework.
The panel also noted the BDA serves as a facilitator and first point of contact for those interested in setting-up, redomiciling or expanding business operations, and that the island's location in the North Atlantic makes it an ideal time zone for serving global markets.
The judging panel's report said: “The BDA stresses the ease of doing business in Bermuda, with a favourable tax system and a collaborative relationship between government and industry. Bermuda boasts one of the world's highest GDPs per capita, with international business and tourism serving as the key drivers of the economy.
“In 2019, the BDA assisted 31 new corporate arrivals and collaborated on the advancement of seven legislative acts to support a broad range of existing industries and open avenues for future diversification.”
Roland Andy Burrows, chief executive officer of the BDA, said: “This award is testament to the hard-work and commitment of the entire team at the BDA, including our board members who volunteer their time and efforts to advocate for Bermuda as a world-leading financial jurisdiction.
“Together, with our stakeholders, we work to encourage inward direct investment to benefit the island's economy and ensure Bermuda's legislative and regulatory framework remains the gold standard. We are delighted to have been acknowledged by Capital Finance International. The announcement of the award is positive news for everyone and comes at a time when the BDA is indefatigable in its efforts to deliver for our partners, not only in North America but domestically and internationally, during these challenging times.”