Financial Secretary’s Message

A Message from Financial Secretary, the Hon. Ken Jefferson

As we approach the two-month mark following the passing of Hurricane Ivan, we all can see the significant progress of recovery.

The Portfolio of Finance and Economics, like all other branches of government, has been diligently working to deal not only with recovery concerns, but government business and priorities that pre-dated the storm. The government’s recent decision to offer a 50 percent duty concession on office equipment and computers is a prime example of how we’re encouraging the recovery of businesses in Cayman.

The financial services industry has been working just as hard to keep commerce flowing. They have been extremely successful due to business continuity plans and sound management practices. They will quickly begin to see new opportunities not related to recovery and we are thankful for their loyalty and support of the Cayman Islands.

We’re also seeing evidence of the economic activity that a recovery such as ours can bring. The strong entrepreneurial spirit inherent in Caymanians is evident. We’re seeing business owners redirecting resources to focus on new priorities; new businesses and services developing out of necessity and market need; and many established businesses quickly mobilizing to meet unprecedented market demands.

All of this is to say that as life events happen, so too does economics and business. In our case, it’s entrepreneurial spirit tied to a strong business climate with solid leadership. But, in our unique situation, it’s also about human need. As we continue to work hard to bring about a semblance of normal to our lives, it’s clear we need each other to survive and thrive.

It’s important for all of us to continue to be grateful for what we have – our families, our health, our communities, a beautiful country to call home and an entrepreneurial spirit that will help see us through this recovery and into the future.