AGP Executive Report

Utility merger cleared: Governor Daniel Pruce assented to the BVIEC and Water & Sewerage merger law, paving the way for VIEWCo to combine electricity, water and sewerage under one entity aimed at better efficiency and coordinated infrastructure planning. Workforce & immigration pressure: Mark Vanterpool warned that a proposed “rollover” immigration approach could disrupt businesses that invest in training workers for years, especially in hospitality where stability matters. Public services training: The BVI launched the Excellence in Customer Service CXC® programme to upgrade public-sector service delivery, using a structured, multi-level training model. Tourism talent spotlight: Mary Joseph won VI’s Junior Ambassador of Tourism title with a social-media-led “TAG” strategy focused on targeting, authenticating and guiding sustainable visitor experiences. Waste enforcement: The Waste Management Authority is stepping up enforcement at bin sites, with fines up to $1,000 for illegal dumping or misuse and reminders to dispose properly and avoid hazardous materials. Regional business wins: VI beat St Lucia and Turks & Caicos to win the 2026 CTO Nex-Gen Tourism Showcase for a “Green & Blue Economy Tourism Hub” concept linking marine restoration with tourism revenue. Corporate finance: Consolidated Water approved a $0.14 per-share quarterly cash dividend for Q3 2026. Tech/finance update: Alpha Compute reported $79.2M assets and a projected $23M annual revenue run-rate, citing operational GPU infrastructure and its GAMEE acquisition. Sports & commerce culture: VG Bayside Blazers rebounded in King of the Courts after an opening loss, signaling strong momentum for local events that draw visitors and spending.

Public Service Training: The Virgin Islands Workforce Development Board and CXC launched the Excellence in Customer Service CXC® programme on June 3, aiming to upgrade service delivery across the public sector with training support from Customer 1st Caribbean. Workforce Funding Access: The UVI Medical Simulation Center was added to the U.S. Virgin Islands Eligible Training Provider List, enabling EMT trainees to use WIOA funding; cohort 2 completed its EMT programme with 10 graduates on track for NREMT certification. Local Business & Governance: A BVI Chamber of Commerce “Meet the Members” series is set for June 4 in Tortola, focused on networking and connecting businesses to chamber initiatives. Energy & Preparedness: Hurricane season guidance continues as NOAA forecasts a below-normal 2026 season, while local voices urge residents to plan for disruptions. Cross-Border Compliance Watch: A major U.S. sanctions case targets a California tech CEO accused of routing U.S. networking and encryption equipment to Iran via intermediaries, with alleged financial links involving offshore structures. Finance Sector Signals: OT Group Ltd issued a monthly market update highlighting resilient but selective private equity conditions.

Sanctions & finance: A dual U.S.-Iranian tech CEO, Jamshid Ghomi, was arrested in California and charged with allegedly smuggling U.S. networking, security and encryption gear to Iran’s military and nuclear programs, with prosecutors saying the scheme routed purchases through intermediaries and shell companies tied to offshore jurisdictions including the British Virgin Islands. Local governance & business access: BVI political commentator Cindy Rosan says Labour Department officials are being pressured to fast-track work permits for politically connected players in the yachting sector, arguing it blocks qualified locals and fuels cronyism complaints. Digital policy: VI Junior Minister Lorna G. Smith says the territory needs an AI management policy as part of its digital transformation push, alongside ongoing business revitalisation efforts. Trade & industry support: The BVI Chamber of Commerce invites businesses to its “Meet the Members” series on June 4 to boost networking and visibility. Tourism momentum: Caribbean Week in New York 2026 is underway, bringing regional tourism leaders together with BVI and other territories at the InterContinental Times Square. Hurricane readiness: NOAA and local emergency messaging stress preparedness for the 2026 Atlantic season, even with a below-normal outlook. Sports: VG Bayside Blazers bounced back in the 2026 King of the Courts, crushing St Croix 100-79 on Night 2.

Corporate & Finance: AMRL Cayman named Stephen Leontsinis Partner to lead a new Corporate Disputes, Insolvency & Restructuring practice, expanding specialist contentious and restructuring support across Cayman and international markets. Governance & Policy: BVI Police Welfare Association says officers are facing “continued exploitation” over delayed compensation, pay inequities, acting appointments, and administrative failures—calling for immediate action. Digital & Business Development: VI Junior Minister Lorna G. Smith says the Territory needs an AI management policy as part of digital transformation, alongside ongoing business revitalisation and entrepreneur training. Trade & Community: BVICC’s “Meet the Members Series” returns June 4 to connect local businesses and highlight initiatives supporting growth. Aviation & Tourism: United Airlines will launch the first nonstop Newark–St. Croix route in decades, starting Oct. 31, 2026, boosting direct access for visitors and commerce. Food Security & Logistics: A VI social commentator warns food insecurity is worsening as the Territory relies on imports and local shipping faces delays, leaving shelves empty and merchants scrambling. Capital Markets: WISeKey and WISeSat filed an amended Form F-4 draft with the U.S. SEC tied to a proposed business combination, with a Nasdaq ticker expected to be “WSAT.”

AI Policy Push: VI’s Junior Minister for Financial Services and Economic Development, Hon Lorna G. Smith, says the Territory must implement an AI management policy as digital transformation accelerates, alongside business revitalisation efforts. Workforce Pay Pressure: The Police Welfare Association warns the “continued exploitation” of officers won’t be tolerated, citing delayed compensation, salary disparities, acting appointments, and administrative failures. Business Networking: BVICC is hosting its “Meet the Members Series” on June 4 to connect local firms with leadership and upcoming opportunities. Tourism Planning: The VI will host a two-day Tourism Summit June 10–11 on Peter Island, aiming to align stakeholders on sustainable tourism direction and investment. Food Supply Strain: Pastor Claude O. Skelton-Cline says food insecurity is worsening as VI remains import-dependent and shipping disruptions are leaving shelves empty. Regional Economy Idea: Mark Vanterpool calls for decentralising government services—moving key ministries to sister islands to spread jobs and boost local economies. Finance Sector Outreach: BVI Finance has shifted its Latin America roadshow to July 13–16, targeting Lima, Bogotá and Panama City. Energy Disruption: WAPA CEO Karl Knight attributes St. Thomas/St. John outages to a Randolph Harley Power Plant failure, with government operations affected. Trade & Travel: United announced a new nonstop St. Croix–Newark/New York route, while Caribbean Week in New York continues to draw regional tourism leaders.

Tourism & Trade: St. Maarten’s SMART 2026 trade show is tracking toward a sellout, with 79% of booths already occupied for the June 22–26 event at the JW Marriott Resort Convention Center, including fully booked NGO space and a small-hotel plaza. BVI Finance: BVI Finance has pushed its Latin America roadshow to July 13–16, 2026, with stops in Lima, Bogota and Panama City to keep building ties with the region’s financial services community. Local Business Skills: The Virgin Islands’ Entrepreneurial Education Programme graduated 26 entrepreneurs, with Junior Minister Lorna Smith urging participants to apply business planning and financial skills and “embrace AI.” Power & Business Continuity: WAPA CEO Karl Knight said a failure at the Randolph Harley Power Plant triggered cascading outages across St. Thomas and St. John, disrupting government operations and businesses. Tourism Planning: The Virgin Islands will host a Tourism Summit June 10–11 at Peter Island Resort to align stakeholders on sustainable growth and investment direction. Aviation & Connectivity: United Airlines announced a new nonstop St. Croix (STX) to Newark/New York (EWR) route starting Oct. 31, 2026, aimed at boosting access for residents and visitors. Hurricane Readiness: The Coast Guard urged mariners and residents across the region, including the U.S. Virgin Islands, to prepare for the 2026 Atlantic hurricane season.

BVI Financial Services: BVI Finance has pushed its 2026 Latin America roadshow to July 13–16, with stops in Lima, Bogotá and Panama City, aiming to deepen ties with the region’s financial community. Tourism & Aviation: The Virgin Islands will host a two-day Tourism Summit June 10–11 at Peter Island Resort, bringing together regional and international leaders to align on sustainable growth and investment. Power & Business Continuity: WAPA CEO Karl Knight said a Randolph Harley Power Plant failure triggered St. Thomas/St. John outages, disrupting government operations and forcing closures, with a hearing rescheduled to June 11. Local Talent in Trade: A radio host is urging the next BVI Director of Trade to be a qualified Virgin Islander, as leadership appointments remain a live issue. Entrepreneurship: 26 entrepreneurs graduated from the government’s Entrepreneurial Education Programme, with Junior Minister Lorna Smith urging graduates to use emerging tech, including AI, to grow MSMEs. Regional Connectivity: United Airlines announced a new nonstop Newark–St. Croix route starting Oct. 31, 2026, expanding air access for residents and visitors.

Cruise & Tourism: Norwegian Cruise Line says Great Tides Waterpark at Great Stirrup Cay opens Sept. 4, 2026, with advance day passes and private cabanas for up to six guests, plus new food trucks. Aviation & Connectivity: United Airlines will add the only nonstop New York–St. Croix service this fall (starting Oct. 31), a major boost for Caribbean travel demand and air access. Regional Business Finance: Carey Olsen advised Butterfield on its $1.8 billion acquisition of CIBC Caribbean, creating a combined ~$29 billion banking and wealth platform across multiple jurisdictions. BVI Financial Services: Junior Minister Lorna Smith told industry and students that BVI’s growth hinges on strong compliance, innovation, and investing in local talent, while continuing work on FATF actions and regulatory alignment. Local Economy & Skills: 26 entrepreneurs complete the Entrepreneurial Education Programme, with a push to “embrace AI” and strengthen MSMEs across sectors. Governance & Trade: Premier Wheatley defended scaling back the proposed Trade Commission’s powers, arguing constitutional responsibilities can’t be handed to outside bodies. Public Safety & Crime: Residents in Tortola question mobile surveillance camera units and whether facial recognition is involved, as police declined clarification. Weather Outlook: NOAA forecasts a below-normal 2026 Atlantic hurricane season, with 8–14 named storms and 3–6 hurricanes.

Entrepreneurship & Skills: 26 VI entrepreneurs and business owners completed the Department of Trade’s Entrepreneurial Education Programme with H. Lavity Stoutt Community College, covering business planning, marketing, finance and operations; Junior Minister Lorna Smith urged graduates to keep learning and “embrace AI.” Financial Services: Smith told compliance leaders that BVI’s growth depends on strong compliance plus innovation and investing in local talent, while also pointing to ongoing work to meet international standards. Security & Governance: Premier Natalio Wheatley pushed for transferring security responsibilities from the UK to the VI government, arguing for democratic accountability in how security is delivered. Trade Commission Fight: Wheatley defended scaling back the proposed Trade Commission’s powers, saying constitutional responsibilities can’t be handed to outside bodies. Infrastructure: West End Ferry Terminal redevelopment hit a setback after bids came in far above budget, forcing redesigns under a CDB-funded project. Tourism & Airlift: United will launch the only nonstop New York–St. Croix service this fall, adding more direct Caribbean access as regional visitor demand stays strong. Regional Spotlight: Caribbean Week in New York opens today under “One Caribbean: Infinite Experiences,” with CTO leaders and regional tourism ministers including VI representation. Local Business Incident: Police reported a machete was allegedly brandished during a customer brawl at RiteWay Food Market in Pasea, with no injuries reported. Aviation Oversight: ICAO’s regional civil aviation directors meet in Antigua to focus on safety, security, sustainability and cooperation. Tech & Deals: SOLAI announced it will buy a 51% stake in Singapore AI firm NEURALAND, signaling a shift toward an AI-first platform.

Trade Commission Fight: Premier Natalio Wheatley defended scaling back the proposed Trade Commission’s powers during debate on the Consumer Protection Amendment Bill 2026, arguing statutory bodies can’t replace government constitutional duties and saying Minister Lorna Smith did “due diligence” before keeping some authority with the Trade Department. Banking Deal: Carey Olsen advised Butterfield on its $1.8 billion acquisition of CIBC Caribbean, creating a combined banking and wealth platform with about $29 billion in assets across 19 jurisdictions. Tourism & Marketing: Caribbean Week in New York 2026 kicks off June 1 with strong regional ministerial turnout, including BVI Premier Wheatley and CTO leadership, while Henry Harteveldt headlines the June 3 Caribbean Marketing Conference on airline trends and airlift strategy. Power & Politics: Lieutenant Governor Tregenza Roach and Senator Novelle Francis launched their campaign in St. Thomas, but power outages during the event sparked immediate criticism tied to the territory’s electricity crisis. Public Safety Incident: Police said a machete was allegedly brandished during a customer brawl at RiteWay Food Market in Pasea Estate; no injuries were reported and investigations continue. Regional Weather Watch: CDEMA warned Caribbean territories face severe flash-flood risks in 2026 despite a below-average hurricane forecast, citing intense rainfall potential and localized hazards. Aviation Realignment (Commentary): A new interline agreement between LIAT 2020 and Air Caraïbes takes effect June 1 as Caribbean regional routes shift, signaling a structural rebuild around key hubs. Business & Finance Portal: Surety One launched BrokerDealerBond.com, an online portal to streamline broker-dealer bond procurement and management.

BVI Courts & Compliance: A federal judge denied new trials or acquittals for former USVI Police Commissioner Ray Martinez and former OMB director Jenifer O’Neil in the Mon Ethos corruption case, saying the trial evidence supported the convictions. Public Safety at Retail: RVIPF says a machete was allegedly brandished during a customer brawl at RiteWay Food Market in Pasea Estate; police recovered one weapon and investigations continue. Tourism & Community: Take Over Tent (TOT) is marking 45 years of calypso, culture and community with anniversary events, including a church service kickoff. Business & Finance: Carey Olsen advised Butterfield on its landmark US$1.8bn acquisition of CIBC Caribbean, while BIT expanded its regulatory footprint with BVI FSC approval for Matrixport Technologies Ltd. Regional Aviation: A new interline agreement between LIAT 2020 and Air Caraïbes takes effect June 1, signaling a broader regional airline realignment. Tourism Pipeline: Ten students will compete for the Virgin Islands Junior Ambassador of Tourism title on June 4, with the winner representing the VI at CTO youth events. Local Economy & Workforce: Mark Vanterpool pushed back on claims of expat preference, arguing employers hire locals when available and that the real issue is a shortage of local applicants. Energy & Environment: The USVI Senate advanced a green waste disposal measure allowing controlled incineration only when safer options like shredding, mulching and composting aren’t available. Trade Skills Funding: The VI Board of Career and Technical Education voted to create an independent 501(c)(3) nonprofit to fund trade students and classroom supplies outside tight government budgets.

Tourism & Trade Diplomacy: Caribbean Week returns to New York June 1 at InterContinental Times Square, with BVI Premier Dr. Natalio Wheatley and USVI Gov. Albert Bryan Jr. leading a regional tourism delegation for meetings on airlift, marketing, sustainability and next-gen leadership. Youth Pipeline: The BVI Tourist Board & Film Commission will host the Virgin Islands Junior Ambassador of Tourism competition June 4, with 10 students vying to represent the Territory at CTO’s State of the Tourism Industry Conference in Guyana. Banking Deal: Carey Olsen advised Butterfield on its landmark US$1.8bn agreement to acquire CIBC Caribbean’s 91.7% stake, creating a combined platform with about US$29bn in assets across 19 jurisdictions. Financial Regulation (BVI): BIT says the BVI Financial Services Commission approved Matrixport Technologies Ltd for a SIBA Category 2 licence and VASP registration, expanding regulated digital-asset services. Local Governance & Cost of Living: Premier Wheatley praised Opposition Leader Marlon Penn’s “reasonable” scrutiny of the Consumer Protection Amendment Bill while criticizing Mitch Turnbull’s opposition as emotional and lacking substance. Sister Islands Representation: Premier Wheatley said separate HoA representatives for Anegada and Jost van Dyke would be “quite irregular,” pointing to constitutional districting and the role of a Boundaries Commission. Disaster Readiness: CDEMA warned of severe flash-flood risks across Caribbean territories despite a predicted below-average hurricane season. Workforce Reality Check: Mark Vanterpool argued the real issue behind expat hiring is a shortage of locals willing to take available jobs, citing lower cost and simpler hiring for employers. Aviation Oversight: Former BVIAA managing director Kurt Menal clarified he resigned and gave notice before leaving, after reports of his departure. Public Safety: Police were called after a customer brawl at RiteWay Pasea; RTW says no injuries and that security and the Royal Virgin Islands Police Force helped de-escalate.

Tourism & Trade: Caribbean Week returns to New York on Monday, June 1, with BVI Premier Dr. Natalio Wheatley and USVI Gov. Albert Bryan Jr. leading a regional tourism delegation at InterContinental New York Times Square, focused on airlift, marketing, sustainability and “next generation” tourism. Youth & Workforce: The BVI Tourist Board & Film Commission will host the Virgin Islands Junior Ambassador of Tourism competition on June 4, sending the winner to the Caribbean Tourism Youth Congress in Guyana. Disaster Readiness: CDEMA warns of severe flash-flood risks across the Caribbean even with a below-average hurricane season, urging year-round preparation. Local Business & Hiring: Mark Vanterpool says the real bottleneck isn’t bias against locals but a shortage of Virgin Islanders willing to take available jobs, arguing hiring locals is simpler and cheaper than importing labour. Aviation & Governance: Former BVIAA boss Kurt Menal says he resigned with three months’ notice and highlights connectivity gains during his tenure. Finance & Banking: Carey Olsen acted for Butterfield on its US$1.8bn acquisition of CIBC Caribbean’s 91.7% stake, creating a larger cross-border banking and digital platform across 19 jurisdictions. Digital Assets Regulation: BIT says BVI FSC approval brings Matrixport Technologies under a SIBA Category 2 licence and VASP registration. Infrastructure & Resilience: Clearfield says modular fiber solutions are supporting BVI broadband restoration after storm damage. Education Funding: The V.I. Board of Career and Technical Education moves to create an independent 501(c)(3) nonprofit to fund trade students’ classroom supplies and competition travel. Policy Watch: The Senate in St. Thomas approved a green waste disposal measure with amendments limiting incineration when safer options like composting and mulching are available.

Disaster Readiness: CDEMA warned the 2026 Atlantic season may be below average, but flash-flood risk across Caribbean territories remains high as warm waters and El Niño effects can still trigger intense rainfall. Tourism & Air Connectivity: Henry Harteveldt will keynote the Caribbean Marketing Conference during Caribbean Week in New York, focusing on airline trends and how destinations can secure stronger routes. BVI Governance & Representation: Premier Natalio Wheatley said separate HoA representation for Anegada and Jost van Dyke would be “quite irregular,” pointing to constitutional districting and the role of a Boundaries Commission. Local Business & Jobs: Mark Vanterpool pushed back on claims businesses prefer expat hires, arguing employers often want locals but face a shortage of people willing to take available roles. BVIAA Leadership: Former BVIAA managing director Kurt Menal clarified he resigned with three months’ notice and said the board paid in lieu—framing his exit as tied to personal and professional well-being. Finance & Banking Deal: Carey Olsen advised Butterfield on its US$1.8bn acquisition of CIBC’s 91.7% stake in CIBC Caribbean, creating a larger banking and wealth platform across Caribbean markets. Digital Assets Regulation: BIT said BVI FSC approval granted Matrixport Technologies a SIBA Category 2 licence and VASP registration. Trade Skills Funding: The V.I. Board of Career and Technical Education voted to create a 501(c)(3) nonprofit to fund trade students’ classroom needs and competition travel. Health & Community: Baker & Partners, International Motors and Riteway will launch a monthly blood donation programme to support Dr D. Orlando Smith Hospital’s blood bank. Climate Policy (USVI): The USVI Senate advanced a green waste disposal measure with amendments prioritizing shredding, mulching, composting and reuse before controlled incineration.

Constitution & Governance: Premier Natalio D. Wheatley said District Councils could work better for Anegada and Jost van Dyke than giving the Sister Islands separate HoA seats, arguing the Constitution sets nine districts and any boundary changes would go through a Boundaries Commission. Consumer & Cost of Living Politics: Wheatley praised Opposition Leader Marlon Penn’s “reasonable” scrutiny of the Consumer Protection Amendment Bill, but slammed deputy Melvin ‘Mitch’ Turnbull for “opposing for opposing sake” and making emotional, low-substance appeals. Infrastructure & Aviation: Despite UK pushback and earlier delays, the BVI Airports Authority has moved ahead with a tender for the Terrance B Lettsome International Airport west runway extension (787ft/240m), with bids due Aug. 31, 2026. Trade & Small Business Support: The Trade Ministry clarified that businesses seeking small business grants won’t automatically be shut out for not being in “good standing,” but debt write-offs aren’t being offered. Workforce & Skills Funding: The V.I. Board of Career and Technical Education voted to create an independent 501(c)(3) nonprofit to fund trade students’ classroom supplies and competition travel. Tourism Talent Pipeline: BVI students advanced to the finals of the Caribbean Tourism Organization’s 2026 Regional Nex-Gen Tourism Showcase in New York on June 4. Finance & Regulation (BVI): BIT said the BVI FSC approved Matrixport Technologies Ltd for a SIBA Category 2 licence and VASP registration, expanding regulated digital asset services. Business Dealmaking (Regional): Carey Olsen advised Butterfield on its landmark US$1.8bn acquisition of CIBC Caribbean’s 91.7% stake, creating a larger banking and wealth platform across 19 jurisdictions. Energy & Markets (BVI-linked): Orca Energy Group reported audited Q4 2025 and full-year 2025 results, citing revenue declines tied to Tanzania’s revenue share and cost gas recoveries, alongside delivery increases from industrial demand. Community Health: Baker & Partners, International Motors and Riteway will launch a monthly blood donation programme for Dr D. Orlando Smith Hospital starting May 29.

BVI Financial Regulation: BIT says it has secured BVI FSC approval for Matrixport Technologies Ltd, granting a SIBA Category 2 licence to arrange deals in investments and a VASP registration under the BVI Virtual Asset Service Providers Act—an expansion of regulated digital-asset activity in the territory. Banking Dealmaking: Carey Olsen Bermuda acted as joint lead counsel to Butterfield on its landmark US$1.8bn agreement to acquire CIBC’s 91.7% stake in CIBC Caribbean, creating a larger banking and wealth platform across 19 jurisdictions with added cross-border payments and digital infrastructure. Airports & Infrastructure: The BVI Airports Authority has moved ahead with the tender process for the Terrance B Lettsome International Airport west runway extension, seeking bids for design and execution with submissions due Aug. 31, 2026, and a pre-tender meeting/site visit set for June 17. Tourism & Skills Pipeline: The CTO announced the finals of its Regional Nex-Gen Tourism Showcase during Caribbean Week in New York, with BVI students among finalists presenting investment-ready tourism proposals on June 4. Trade Education Funding: The CTE Board voted to create an independent 501(c)(3) nonprofit foundation to fund trade students’ classroom supplies, competition travel, and other needs outside traditional government budgeting. Waste Management: The USVI Senate approved a green waste disposal measure allowing controlled incineration only when other safer options (like shredding, mulching, composting, and reuse) aren’t available, with added rules to reduce smoke and particulate impacts. Community & Health: Baker & Partners, International Motors and Riteway plan a monthly blood donation programme for Dr D. Orlando Smith Hospital, starting Friday as a six-month pilot. Local Public Safety: Police responded to a customer brawl at RiteWay in Pasea, with the company saying no injuries were reported and security worked to de-escalate.