Correct Success: Minister claims success in perception battle

Monetary Providers Minister Tara Rivers delivers her assertion to Parliament on Monday

(CNS): In a protracted handle to parliament Monday, Minister Tara Rivers outlined what she sees as her achievements throughout her tenure on the helm of the Ministry of Monetary Providers, from the reams of laws handed to funding within the sector. Rivers additionally claimed credit score for taking up Cayman’s “notion drawback”. She mentioned the ministry would proceed to name out media and leisure firms that painted a distorted image of the nation’s finance trade.

Rivers mentioned that since asserting her plan to tackle Hollywood over one year ago, along with the success in getting AT&T to change a TV commercial depicting Cayman in a adverse gentle, the ministry had additionally modified a textual content e-book and “challenged a number of cases the place Cayman was spuriously referenced in episodes of some sitcoms aired on widespread streaming platforms”, although she didn’t element these.

Rivers mentioned that difficult the stereotypes that abound concerning the Cayman Islands, as perpetuated by the leisure trade, would proceed to be a key a part of the ministry’s PR technique. She mentioned it was “as much as us as a jurisdiction to problem the stereotypes and assist to teach the leisure trade”. She mentioned that careless feedback hurt the repute of Cayman as they reinforce the parable that it operates on a shady stage.

“To problem each throw away adverse remark in regards to the Cayman Islands is a formidable process, however this authorities believes it’s vital to take action to be able to assist minimise such references sooner or later,” Rivers advised her colleagues within the Home, including that the thought to “tackle Hollywood” as a
euphemism for mass media usually was obligatory and it was having constructive, tangible impact.

Defending a coverage that had drawn criticism, she mentioned the nation may not have the ability to handle and even determine “every spurious reference to the Cayman Islands”, however the ministry was going to take a defensive in addition to a proactive stance defending and selling the jurisdiction.

“We can’t sit again and let Hollywood or any activist foyer organisation outline who we’re or what we do,” the minister mentioned.

Rivers advised parliament that the ministry was working to strengthen its engagement technique with focused public relations and communications. It could be working with the CIGO within the UK and the Ministry of Worldwide Commerce to find out find out how to successfully deploy extra sources abroad to advertise and defend the jurisdiction, she mentioned.

As she wound up the lengthy handle, which coated a myriad of points, comparable to coping with evolving worldwide requirements and regulatory reform, she mentioned, “the excellent news in regards to the Cayman Islands is commonly misplaced within the rhetoric and utterances of these intent on portray Cayman in a nasty gentle”.

Rivers mentioned the continued progress of the monetary providers trade year-over-year in actual financial phrases was a testomony to the continued success of the Cayman Islands as a worldwide monetary centre.

“As a authorities, working in tandem with stakeholders, together with trade as acceptable, we’re dedicated and ready to proactively and reactively reply to world developments, to make sure the continued success of the Cayman Islands for years to come back,” she mentioned. “The challenges are nice and sure, the setbacks could come, however now we have confirmed that we’re as much as the duty to face them head on, and to beat.”