Premier André Ebanks used a well-attended Chamber of Commerce Parliamentary Luncheon on Thursday, 23 Oct. at Kimpton Seafire Resort + Spa to implore businesses to help support the Cayman Islands.
After walking the audience through the government’s recently released Strategic Policy Statement, he called upon the assembled business leaders to also play their part in “building a better Cayman”.
“The community has to get together and lean-in,” said Ebanks, “because it can’t all be on the government.” He then cited the example of Cayman Finance, a finance industry association that has called for more state funding.
“Cayman Finance comes looking for more resources to promote the jurisdiction around the world, but government can only do so much,” said Ebanks.
Cayman Finance also receives funding from private-sector members and Ebanks questioned why, until recently, only one ‘Class A’ bank was a member.
The nagging question, said Ebanks, is “where are the other banks, accounting firms and law firms – why is it all on government”.
In recent years has Cayman Finance has seen an uptick in members and now has more than 150, up from 46 in 2015.
“Now CNB, Scotiabank, RBC, CIBC and MUFG are members [of Cayman Finance],” said Ebanks. “And Grant Thornton became a member just yesterday. So, thank you to all those companies for hearing the call-to-action and following the government’s request.”
After citing that positive example, Ebanks then called on the business leaders present to follow suit. “There is a Financial Services Institute diploma that costs $6,000 or $7,000 for each student. Some of you are wearing more than that on your wrist. Why not invest that amount and help a student to get ahead and get qualified in the country’s number one industry?”
Ebanks promised the government would listen to fresh partnership proposals from the private sector. Then, in a rousing end to the speech, he asked any business leader willing to work with government to stand and demonstrate their commitment to improving Cayman.
Amid loud applause he urged businesses to “all get in the game to move this country forward and blow the competition away”.
Related Videos
