Published March 3, 2023

2 minute read

Beyond Boundaries: Bermuda and UAE's Shared Vision for Innovation and Growth

In this session, the Premier of Bermuda, The Hon. E. David Burt, JP, MP, emphasizes Bermuda's commitment to a long-lasting friendship with the UAE, highlighting commonalities and opportunities for growth and innovation.

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Key Takeaways

  • Bermuda is committed to a long-lasting friendship with the government and the people of the UAE. 
  • Bermuda and the UAE share meaningful commonalities, including similar histories, a commitment to embracing industries and catalyzing growth, a commitment to sustainability and fighting climate change, and a proud history of innovation.
  • Bermuda's regulatory equivalents, notably in insurance with the US and the EU, give it access to both markets. The country's legal system is rooted in the UK common law.
  • Bermuda embraces distributive technologies and the environment for its growth. Bermuda's financial sector is built on these premises, building talent from school and changing immigration policies to attract talent to embrace the new wave of innovation.
  • Bermuda and the UAE have seen the opportunity to embrace and educate people on digital assets. Both countries are invested in designing the proper education to foster the industry while protecting the consumer. 

The Hon. E. David Burt, JP, MP, Premier of Bermuda, gave a speech at Investopia 2023 in which he shared his commitment to a long-lasting friendship between Bermuda and the UAE. While he had initially intended to promote investment in Bermuda, he noticed that there was much alignment between the two countries, including similar histories, commitment to catalyzing growth and fighting climate change, and pride in their people and history of innovation.

Bermuda, known as the "jewel of the Atlantic," is a global leader in financial services, climate, and innovation, with a long history of ensuring world risk. The country's regulatory equivalents with both the US and the EU provide it with access to both markets, and its legal system is rooted in UK common law. Bermuda has embraced blockchain technology and offers free fintech education to support the industry's growth.

Bermuda's relationship with the ocean has played a defining role in its economy and culture. Its deep water is a unique marine ecosystem for various maritime industries around fishing, agriculture, and renewable energy. The UAE's technological expertise presents an excellent opportunity for the two countries to work together.

Premier Burt praised the UAE's grand ambitions, which have expanded way beyond the limit of the earth, with the recent launch of its second Emirati in space. Both Bermuda and the UAE embrace disruptive technologies and the environment for their growth, with a commitment to the critical role of disruption in fostering growth in their economies.

In conclusion, Premier Burt expressed his hope that his speech was just the beginning of a friendship between the jewel of the Atlantic and the country that makes things happen, the UAE.

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