Conservative peer Lord Marland was in the island for a day, during which he met representatives of finance sector bodies as well as delegates from aviation industry registrar 2-Reg and members of the Economic Development Committee. There was also a tour of the Royal Court and a trip to Specsavers’ headquarters.
He said this was an opportunity to meet Guernsey representatives on their own turf, having met them previously in London.
‘I was very kindly invited, and I also wanted to come see things for myself,’ he said.
‘I’m very optimistic, and I was thrilled to see the optimism of your politicians and of your business leaders, about Guernsey’s role in the world.’
Lord Marland has been chairman of the CWEIC since 2014.
Its role is to facilitate trade and investment through the 56 Commonwealth nations and its members include about 140 business and government strategic partners from 35 countries and territories.
Lord Marland said that Guernsey was an attractive proposition for investors.
‘People want to invest in a country which has a rule of law, which has proper regulation, but not over-regulation, that has a good tax and sensible tax environment, and that has access to skills and Guernsey is extremely well-positioned in that regard.’
The Commonwealth nations have shared values and all speak English, which he said meant doing business ‘intra-Commonwealth’ was easier.
‘I think the stable platform that Guernsey has gives it a really great opportunity of increasing its presence as a financial centre.’
It can export the skills and knowledge of things like regulation, aircraft licensing and others, to other countries, he said.
‘There is a great opportunity for the government to increase growth very easily through those very well organised business sectors the island has got.’
He added that another benefit was for the island to attract high-net-worth individuals to base themselves or their businesses here.
Chairman's visit a ‘unique opportunity’
The visit to Guernsey by the chairman of the Commonwealth Enterprise and Investment Council was a ‘unique opportunity’, said Economic Development president Sasha Kazantseva-Miller.
‘Lord Marland recognised, actually, the superpowers and the value that Guernsey’s got, in terms of its stable political position and tax position.
‘It’s a safe, secure environment, but with the extent of its professional and financial services that it offers, it’s a great place to visit. We’ve got the perfect combination of capitalising on those unique skills, qualities and regulatory environment that we’ve built over the years.’
But on top of that there was the opportunity to do business away from the UK.
‘I think historically we’ve been really linked and connected by the hip to the UK and working via the UK as well,’ said Deputy Kazantseva-Miller.
‘We need to develop more direct connections to the rest of the world and the Commonwealth.’
There were key financial markets outlined in the ‘Finance Sector Strategy 2035’ report which she said the committee would be keen to capitalise on.
The island will also be tapping into events and activities organised by CWEIC and will be going to the Commonwealth Trade and Investment Summit in London in April.
‘There’ll be a small delegation going there, and that’s an incredible opportunity to meet with heads of state, strategic partners and banks that are part of the Commonwealth.
‘And we will explore further opportunities of what we can do as a partner. As a network of members, they provide a range of services and market access opportunities and we really want to explore that.’