Financial Centre in the wake of last week's resounding "no'' vote in the Independence Referendum.

Bermuda Financial Centre Ltd. (BFCL) president Mr. Michael Winfield said yesterday that potential backers are more optimistic about the project planned for the site of the closed Bermudiana Hotel. The project has been stalled since February.

"There is no question that the results of the referendum have been received favourably by various investment groups we are dealing with,'' he said.

"I am optimistic, probably more optimistic than I have been for several months. We are now in constant contact with various groups overseas who are expressing confidence in Bermuda and the project. We are very pleased, but that process will take time.'' Prior to the referendum, Mr. Winfield had conceded that the Independence debate had caused uncertainty among potential investors.

In February, he said: "Whether it is real or perceived, there is a tremendous uncertainty out there because of the discussion on independence.

"Whether the decision is to go ... or not to go independent, I think it is the uncertainty people are reacting against. And that does not bode well for a major project destined for the future of Bermuda.'' And in July, Mr. Winfield said: "Tenants, either already in Bermuda, or considering Bermuda, are certainly not, as I can ascertain, in the mode of making decisions of that nature at this moment.

"Whether they will be (ready to commit) on August 16 will depend very much on how Bermuda reacts on the 16th,'' he said. "We are hopeful that that will be a milestone that will enable this project to gain momentum again.'' Yesterday Mr. Winfield said: "The referendum just put everything on hold in terms of investors. It was just like someone pushing a red button and telling us to call back later.'' Since the referendum, said Mr. Winfield, things are moving again, although "it is still early days''.

Sen. Michael Winfield