(CNS): According to Andre Ebanks, Minister of Financial Services, Cayman needs to build on existing quality financial services products and embrace the future of the digital industry. At the Chamber of Commerce Parliamentary Luncheon on Thursday, the Cayman Islands seize the opportunity and prepare to create new opportunities to “look at us head-on” in such areas, on top of world-class regulatory and legal frameworks. Said that it was done. As technology and health care.
On behalf of Prime Minister Wayne Panton, who has been quarantined after a positive COVID-19 test, Ebanks gave a keynote speech on the goals of the PACT government at the event, calling for action on behalf of the Prime Minister.
He said its purpose is to develop the local economy to provide new, high-paying, high-quality jobs from new digital, healthcare and green technologies. The minister said the future of technology is coming, whether the country is ready or not, and can miss opportunities or “grab with both hands.”
Ebanks explained that the government wants to attract technology investors and start-ups to Cayman and create a great ecosystem in which they can thrive. Jurisdiction is in the right position given its virtual asset framework and its adaptable, technology-friendly and stable platform. Cayman said the minister could align the new industry with traditional financing and build virtual assets around existing financial products, emphasizing the government’s digital identity program as a way to support the economy of the New World.
In the future, if the government builds an educational path to this “serious business,” tech will offer high-paying jobs in the Metaverse, which goes far beyond video games, he said. This will allow Cayman to leap into new industries that we never imagined would be, such as the film industry, where digital work is becoming more and more important. He is attracting movie companies New LAX flight..
The Minister emphasized the importance of education and the need to tailor the curriculum to the upcoming and enable Cayman to provide the new workforce with a future workforce. “We have to get young people ready for that,” he said.
In a question and answer session with President Scott Shomari of the Chamber of Commerce, Ebanks told the audience that sustainability was PACT’s priority. In anticipation of this problem, he read a brief response from the Prime Minister of Sustainability, emphasizing the need for an ongoing “comprehensive development plan.”
“It’s no secret that it’s not completely on track yet,” Ebanks said. “But now at certain events past us, he is enthusiastic about his colleagues and caucuses to create a comprehensive plan.”
Watch the entire Minister’s speech on the Chamber YouTube channel below.