Premier Dr. Orlando Smith speaks at a press conference earlier this year. (Photo: CONOR KING DEVITT)

The financial services industry recently reported that about 70 percent of its practitioners are back to work in the Virgin Islands following a miniature post-hurricane diaspora when many left the territory in order to execute their firms’ business continuity plans, according to Premier Dr. Orlando Smith.

Dr. Smith (R-at large) praised this temporary solution while giving an update on financial services and tourism during a press conference last Thursday.

“Our financial services industry has shown its ingenuity and durability by continuing business despite the disruption caused by the hurricanes to offices in the industry,” he said.

Now, the majority have returned to resume working in the VI, along with the territory’s Commercial Court — an important cog in the industry.

“Our Commercial Court has moved back on island and is temporarily sitting at the BVI Arbitration Centre at Ritter House,” the premier explained. “Work has aggressively started on the refurbishment of the court’s building, which is anticipated to be completed by the end of April.”

Following the destruction caused by the storm, the Eastern Caribbean Supreme Court temporarily moved the Commercial Division’s operations to St. Lucia, and judges started hearing matters there on Sept. 25.

Tourism

The premier also gave an update on tourism, saying that about 300 rooms and 800 berths at sea are currently in use by tourists and other visitors. To map the way forward for the tourism industry, government has scheduled an industry stakeholder forum tomorrow to meet with officials from large hospitality businesses and the yachting sector, the premier explained.

During the meeting, government officials hope to discern the reopening timelines for a number of businesses, he added. Arliene Penn, government’s communications director, could not be reached for comment on further details.

Dr. Smith also noted that the territory plans to host international guests at the second annual Anegada Kite and Paddle Festival on March 3 and 4.