Christine Chang, joint managing partner of Maples and Calder’s Hong Kong office, believes the visit of a Cayman Islands government delegation, led by Premier McKeeva Bush, to Asia was beneficial for the marketing of Cayman Islands and the attraction of inward investment.
“There is no question that our Asian business counterparts appreciate the effort to build personal business relationships and that the visit of the Cayman Islands government to the region is a valuable way to enable Cayman to remain visible in an increasingly competitive market and help attract inward investment into Cayman,” Ms Chang said.
Mr. Bush and government officials had visited Beijing to represent the Cayman Islands at the China Offshore Summit on 26-27 October, which brought together industry professionals to promote the Cayman Islands as a leading jurisdiction. Ms. Chang was invited by the Cayman Islands Department of Commerce and Investment to speak at the summit, giving an overview of offshore funds in the Cayman Islands.
According to the law firm the summit strengthened the professional relationship between the government and the private sector through a joint commitment to promote the Cayman Islands and attract investment.
Speaking after a dinner hosted by Maples and Calder in Hong Kong for the Cayman delegation, Global Managing Partner Henry Smith said, “The financial service industry is highly competitive and it is extremely important for the Cayman Islands to be marketed effectively on the ground in the major financial centres in Asia. Having lawyers based in a Hong Kong office enables Maples and Calder Asia and Maples Fund Services to promote Cayman as the leading global international financial centre, in particular for investment fund and corporate formation for global businesses. Cayman companies provide an essential tool for allowing Asian businesses to raise money in the global capital and equity markets and to help international institutional investors invest in the region.”
Maples and Calder was one of several private sector firms visited by the government delegation in Hong Kong to solicit feedback about what can be done to support the industry and to receive updates on pending legislative changes in the financial services industry.
During the visit, Mr. Bush also explored the possibility of opening a Cayman representative office in China.
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