A meeting between Jamahl Simmons, the new Minister for Economic Development and Tourism, and the Bermuda Business Development Agency, has been described as productive.

And the agency “affirmed a positive partnership in its work to support Bermuda-based companies and attract new business for economic growth”.

Ross Webber, the CEO of the BDA, met Mr Simmons and his Randy Rochester, permanent secretary at the Ministry headquarters.

“It was a productive meeting. The minister was very positive about the BDA’s role. We agreed on the importance of close collaboration in our work to benefit all of Bermuda,” said Mr Webber.

He also said the meeting included discussion about the agency’s funding, structure, and the best model for sustainability. They talked about expanding the BDA’s regional business-development horizons to explore more geographic areas, in particular, the Middle East, China, and other parts of Asia.

“We spoke about development of Bermuda’s banking infrastructure and the need for more banking options, as well as access to seed and venture capital and angel investors,” said Mr Webber.

“Given the newly combined portfolios of Economic Development and Tourism under his Ministry, we also discussed expanding the synergies between tourism and business.”

The meeting also focused on the BDA’s comprehensive schedule of local and overseas industry conferences, roadshows and events — and the agency’s intent to include ministerial representation on many of these to showcase the jurisdiction’s strong collaboration between government, industry and regulators. Last year, the BDA participated in a total of 62 conferences and events.

“The minister advised we should continue unfettered, and be aggressive about getting the word out far and wide that Bermuda is indeed open for business,” said Mr Webber.

“On behalf of our BDA team, we are grateful for the minister’s support and very much look forward to working with him and his Ministry.”