Harneys became official legal firm for BVI RDA

July 15th, 2019

BVI offshore law firm Harneys received a contract as the official provider of legal services to the BVI Recovery and Development Agency (RDA). The official signing was held on 5 July. Legal duties of the company will include domestic BVI advice, including real estate and infrastructure projects, and corporate and commercial and dispute resolution advice. Harney was chosen by the Agency following the formal public tender process.

Company’s partner said in his comments: “We are delighted to have been chosen for this notable role as the RDA’s official law firm. It is an opportunity to contribute in a meaningful way to the achievement of Government’s strategic vision for a stronger, smarter, greener, and better BVI. Harneys have always been regarded as an institution synonymous with the BVI, providing the highest quality counsel, and innovative, practical legal thinking.”

BVI company received US$300,000 contract for installation of sea markers

July 7th, 2019

The BVI-registered company Sand Dollar Marine Consultants received the US$327,310.76 contract with the Recovery and Development Agency and local government, for the installation of sea markers throughout the British Virgin Islands. According to the contract, the company has to install 26 sea markers in different locations, within the six month period.
The markers are planned to enter the British Virgin Islands within the next few weeks and construction of a concrete base to secure a sea marker on Mosquito Rock is to begin in a short time.

The project is led by the Ministry of Natural Resources, Labour and Immigration in collaboration with the BVI Ports Authority and the Virgin Islands Shipping Registry. Recently, government has been taking steps to develop blue economy in the country by conducting a marine survey during two weeks time.

Origin Agritech entered into investment agreement to form a new JV

June 7th, 2019

Origin Agritech Ltd., an agriculture technology and rural e-commerce company registered in the British Virgin Islands, entered into a Cooperation Framework Agreement with Beijing Changping Technology Innodevelop Group (BC-TID), with the purpose to form a new joint venture which will be focused on the commercialization of genetically modified corn seed technologies.

According to this agreement, both companies will establish the new entity with approximately equal partnership. BC-TID will fund the joint venture with a total amount of RMB204mln, while Origin Agritech will contribute the Origin Life Science Center building in Beijing and two biotech corn traits – the glyphosate tolerance (Gt) trait and the double stacked traits of insect resistance (Bt) and Gt genes.

These two biotech traits have completed multi-year production tests, and the BVI corporation has already submitted the application for the final stage of biosafety approval to China’s Ministry of Agriculture.

Since Origin started its corn seed biotechnology research 15 years ago in cooperation with Chinese Academy of Agricultural Sciences, it has developed several corn seed biotech traits. Also, the BVI company has entered into commercialization agreements with multinational and local corn seed companies. Dr. Gengchen Han, Origin’s Chairman and Chief Executive Officer, stated: “The investment of BC-TID to form a joint venture for biotech corn seed commercialization gives us very strong support as we’re moving closer to the commercialization of our corn seed biotechnologies.”

BVI company entered into agreement with Port of Québec to develop new terminal

May 30th, 2019

Hutchison Port Holdings Ltd., the world’s leading port network, and Canadian National Railway (CN), the leading North American transportation and supply chain company, signed a long term agreement with the Québec Port Authority (QPA) to build and operate the new container terminal project Laurentia, previously known as Beauport 2020.

With this agreement, BVI company’s global network will increase to 52 ports covering 27 countries, including the United Kingdom, Spain, Poland, Sweden, Germany, the Netherlands, Belgium and many others. The project, which is US$775mln worth, will be financed mainly through the joint investment of the three partners.

The QPA has chosen Hutchison Ports after a competitive process in which it invited leading international port operators to provide proposals for the project. The Hutchison Ports is supposed to build the most environmentally and technologically advanced cargo-handling facility in North America.

Group Managing Director of Hutchison Ports said in his comments: “We are pleased to partner with the Québec Port Authority and CN to develop the Québec container terminal. Québec City will become Hutchison Ports’ gateway to the East coast of North America. With its fully intermodal deep-water port, its strategic location to reach the Midwest market, and the strong support shown by the local authorities, the Québec project has all the attributes to be successful in this highly important market.”