Jersey Promoting Opportunities To Foreign Investors
Friday, April 15, 2011

Following on from the recent stepping up of business connections in India and the Gulf region, representatives from Jersey are this week visiting China and Hong Kong, and plans are underway for a trade delegation to Israel in May.

The visit to the Far East is being led by the Lord Mayor of the City of London, Michael Bear. Jonathan White, Chairman of Jersey Finance, and Zhaoan Li, Head of Greater China Business Development, Jersey Finance, are joining London-based professionals visiting finance centres including Shanghai, Beijing and Hangzhou.

The visit to Israel in May will be undertaken by Jersey Minister for Economic Development, Senator Alan Maclean, and Assistant Chief Minister in charge of UK and International Relations, Senator Freddie Cohen, to promote trade and investment in Jersey.

A strategic partnership has been set up with UK ISRAEL BUSINESS, an organization which encourages trade, industry and investment between the UK, the States of Jersey and Israel. Working closely with Jersey Enterprise, the partnership aims promote Jersey to UK ISRAEL BUSINESS members in the UK and Israel and present Israeli firms expanding in Europe with Jersey as an alternative option for basing their operation.

The Ministers will be accompanied by Economic Development Department Chief Officer, Mike King, Jersey Enterprise Director, Inward Investment and International Trade, Wayne Gallichan, and Director of International Affairs, Tom Walker, during the three-day visit to Tel Aviv. The delegation, which will also include Jersey Finance Chief Executive, Geoff Cook, will focus on developing and diversifying Jersey business in financial services, clean technology (renewable energy, environmental transport etc) and e-gaming.

During the visit Ministers will be meeting with representatives from the Israeli Finance and Environment Ministries, the Federation of Chamber of Commerce, the Chief Executive of the Tel Aviv Stock Exchange, the Governor of the Bank of Israel, the British Ambassador to Israel and the Mayor of Jerusalem.

They will also be visiting a number of key financial services and clean technology businesses, and holding round table meetings with e-gaming entrepreneurs.

Senator Maclean said that: “While in Israel, we will be actively marketing Jersey to leading Israeli intermediaries and organizations, to encourage trade and facilitate inward investment. Our aim is to make it clear that Jersey is very much ‘open for business’ with this important market”.

Senator Cohen added that: “Israel is one of the UK’s strategic business partners and annual bilateral trade is in excess of GBP2bn. Jersey’s partnership with UK ISRAEL BUSINESS is an excellent opportunity for the Island to further links and develop business with Israel in growing areas such as environmental technologies, renewable energy, electric vehicles and other clean technologies. I also look forward to establishing a cultural exchange programme with the State of Israel and will be pursuing this objective during my visit.”

Jersey is working hard to promote its strength as an international centre for corporate banking, fund and wealth management services, and is keen to highlight its expertise in corporate structuring and the benefits of its recently introduced cross-border mergers law. A Jersey Finance office has recently opened in Abu Dhabi and permanent representatives have been appointed in India.