Island gets world-wide
massive boost yesterday after Premier Jennifer Smith and Telecommunications Minister Renee Webb plugged the Island on a television programme that has a world-wide audience of millions.
The pair were interviewed on World Business Report, which airs on the British Broadcasting Corporation's (BBC) World Service television channel.
Ms Webb and Ms Smith are currently in London attending a Bermuda International Business Association (BIBA) conference which has lured more than 30 representatives from some of the most influential news media in Britain.
Bermuda was the last feature on the half hour show and began with a short promotional video that was shown touting the Island as a centre for e-commerce in the telecommunications era.
The BBC reporter said: "Bermuda is keen to stress the industries that have made it famous and rich, namely financial services and tourism.
"But now to supplement its wealth it is looking to the internet to secure its future prosperity.
"Bermuda claims to have been farsighted enough to appoint the first e-Minister in Renee Webb two years ago to encourage technology companies to come and make use of the advanced telecoms infrastructure and low taxes.
Island gets television boost "However, with so many dot-coms biting the dust around the world it would seem a risky strategy, but not in the eyes of Ms Webb who saw e-commerce grow last year by more than 50 percent.'' Ms Webb was then interviewed, saying: "The economy has done extremely well under international business and tourism but tourism in the region is declining and Government was looking at a way of diversifying our economy within the context of the restrictions of our infrastructure.
"Because of our size, of course Bermuda is only 22 square miles, 60,000 plus residents, so we can't really import a large number with respect to a work force, so we couldn't look at manufacturing for example.'' Focus was then shifted to Premier Jennifer Smith who was also interviewed.
The report said: "(Ms Smith) is also enthusiastic about the future of technology, but says it must be the right type of e-commerce.'' Ms Smith added: "We have outlawed pornography and gambling, you can't set up those kind of companies in Bermuda, so that takes them away. But part of it is almost what you call the self regulatory aspect, which is, those businesses that are already set up in Bermuda want to encourage if you will and build on what has already become a good reputation, and it is in their own interest not to have some one come in who will detract from that reputation or who will bring down the overall standards.'' The reporter commented: "Bermuda seems to be carving a technology niche in the market, but whether surfing on the Island's servers will replace sailing on its wispy waves as a major earner may well depend on whether e-commerce recovers from its present tarnished image.'' The show's London based presenter then commented: "It strikes me watching that, that this whole sector of the country selling itself as a friend of the dot-com world is already pretty crowded. We have got Dubai selling itself as the internet city with all sorts of tax incentives, and in Asia there are at least four cyber villages in operation already, so one wonders how Bermuda's going to do.'' And the New York based presenter added: "And isn't Singapore the big wired city of the world? Well I suppose isn't that the whole point, faith in the future, if it is going to work for some, you hope it's going to work for more.'' The Premier is expected to continue her rounds of the foreign media and is due to appear on a business show on Sky TV later tonight.