TORTOLA, BVI – Premier and minister of finance, Dr Natalio D. Wheatley, has introduced legislation in the House of Assembly that will transform the Recovery and Development Agency (RDA) into a permanent institution responsible for delivering nationally significant development and infrastructure projects across The Virgin Islands.
Premier Wheatley, while moving the Virgin Islands Recovery and Development Agency (Amendment) Bill, 2026 for its second reading, said the legislation represents “the next stage in the evolution of one of The Virgin Islands’ most important public institutions”. He said this demonstrates government’s commitment to ensuring that the Territory’s legislative framework keeps pace with its changing development priorities.
While the Bill proposes renaming the Recovery and Development Agency as the Virgin Islands Development Agency (VIDA), the premier emphasised that the legislation goes far beyond a name change. He stated: “The new name reflects a broader transformation from an institution established primarily to coordinate recovery to one that will serve as a permanent partner in delivering the Territory’s long-term development agenda.”
The premier reflected on the circumstances that led to the RDA’s creation in 2018 following hurricanes Irma and Maria, noting that it had successfully coordinated the Territory’s recovery while building a reputation for professionalism, technical expertise and accountability. He pointed out that since its establishment, the RDA has managed $69.2 million in funding, with more than 90 percent of contracts having been awarded to local contractors, contributing to the development of local capacity.
Premier Wheatley highlighted the agency’s achievements, including the redevelopment of six schools benefiting more than 1,900 students, repairs to five administration buildings, refurbishment of six police stations, rehabilitation of recreational and tourism facilities, improvements to the road network, installation of renewable energy systems, construction of water reservoirs and procurement training for contractors and interns.
The premier said government believes the Agency’s accumulated expertise should be preserved and expanded rather than dismantled.
“Government has concluded that this institutional capacity should not be dismantled at the end of the recovery period. Instead, it should be preserved and redirected towards supporting the Territory’s long-term development priorities,” he added.
Among its key reforms, the legislation:
- Renames the Recovery and Development Agency as the Virgin Islands Development Agency;
- Expands the Agency’s mandate to support long-term national development;
- Introduces an infrastructure planning framework linked to the National Sustainable Development Plan;
- Strengthens governance, transparency and accountability measures;
- Clarifies the respective roles of the minister, board and executive management;
- Enhances financial reporting, auditing and procurement arrangements; and
- Removes provisions that contemplated the Agency’s eventual dissolution.
The Virgin Islands Recovery and Development Agency (Amendment) Bill, 2026 is now before the House of Assembly for consideration during the debate and Committee Stages.
Meanwhile, department of trade, investment promotion and consumer affairs recently welcomed entrepreneurs and prospective business owners to tour the first completed building at the Virgin Islands’ first Entrepreneurial Zone in Huntums Ghut.
The building is the first of two being developed at the site and will serve as an incubator for start-ups and emerging businesses. The initiative will provide entrepreneurs with affordable commercial space and other business development support as they work towards becoming independent and sustainable enterprises.
“Huntums Ghut is a thriving zone. It’s a thriving area. It’s a thriving community. And this isn’t just meant for persons from Huntums Ghut, although we want to see as many persons from the area as possible, but persons from wherever they are from throughout the BVI, once they qualify for the use of this space,” said junior minister for financial services and economic development, Lorna Smith.
Applicants are required to present a comprehensive business plan that clearly explains their business idea, how the operation will generate revenue and how it can grow. Successful applicants will be able to operate from the incubator for a period of two to four years while working with the department to strengthen their business operations and prepare for the wider commercial market.
Deputy director for business, Dr Lincoln Bobb, said:
“So you come with your idea, you come with a solid business plan. You have projections as it pertains to how are you going to make your money and how your money is going to grow. And then we actually work with you throughout that entire process so that you can actually be a business that could stand by itself and also be testimony to the work that we are trying to accomplish.”
Business development manager, Leroy James said the combination of commercial space and structured support will help entrepreneurs move their operations from informal settings into a professional business environment.
“People, especially in these units, would have not just a place where they can take their businesses from out of their homes and out of their cars and have a storefront, but they also have support where they can develop and grow their businesses,” James said.
Priority will be given to innovative businesses that can operate within the dry-zone facilities and demonstrate the potential to grow, provide valuable products or services and contribute to the development of the Virgin Islands economy.