Cayman gets the green light from the UK to create its eighth ministry and open its Asia/Hong Kong office.
On Monday (17 December) Premier Hon. Alden McLaughlin announced the creation of the Ministry of International Trade, Investment, Aviation and Maritime Affairs.
He said the Asia office, as well as, the Cayman UK office will fall under the new ministry.
The Premier said a $3 million annual budget will be also be allocated to the new ministry.
“There will be new civil service headcount, but much of the budget will go directly into promoting the Cayman Islands and attracting business. This represents a considerable
investment when we are well aware of the other potential calls on government funding. However, we believe the benefits I have outlined are significant enough to justify the investment,” said Premier McLaughlin.
The Premier said the UK and its Hong Kong personnel will be providing assistance to Cayman for the setting up the new ministry and new Asia office.
Premier McLaughlin will be heading up the ministry.
Read the Premier’s full statement here: http://www.gov.ky/portal/page/portal/otphome/announcements/statement-on-new-ministry