This page provides a general overview of the Government of Bermuda’s Economic Recovery Plan. It includes a priority list of the initiatives focusing on areas with the highest impact on Bermuda’s medium-term economic growth and employment. The initiatives are broadly grouped into seven core themes and included is an update on the current status of each initiative.
Theme 1: Economic Diversification
Launch Casino Industry
The Government is committed to ensuring a properly Bermuda’s gaming industry is appropriately regulated and has advanced its legislation and planning to introduce gaming. The overall goal is to diversify both Bermuda’s economy and tourism product.
The Bermuda Gaming Commission is actively engaged with stakeholders to continue progressing this initiative.
The Bermuda Gaming Commission granted Bermuda’s first casino license to the St. Regis Bermuda Resort. Bermuda’s established legislative framework for the licensing and opening a casino involves a three-stage process. Following an extensive and in-depth suitability review, the Bermuda Gaming Commission granted Bermuda’s first casino license to Hotelco Bermuda Holding Ltd. o/a St. Regis Bermuda Resort after completing the second phase review.
The license issuance permits the applicant to address the necessary steps to comply with all the legislative requirements to open the casino as the third and final stage of the application.
The third phase is predominantly operational and will include, but is not limited to, establishing the casino’s compliance committee, finalising internal controls to ensure they comply with the statutory framework, recruiting and training employees, and purchasing, shipping and installing gaming equipment and systems.
The casino's opening date entirely depends on the casino operator meeting all legislative requirements to open and is subject to the Commission’s review and approval.
The Department of Workforce Development continues working with casino operators to define employment and training opportunities within the industry. Work is ongoing to establish training programmes with the Bermuda College PACE division to discuss training that can be done at the College.
Medical Tourism Facility
The Government aims to work with the private sector to construct a medical tourism facility to create jobs and year-round visitors to Bermuda.
Interest and investigation into Bermuda Medical Tourism continue with an international private sector investor and consultant.
Vertical Farming Facility
Food security and lowering food costs for Bermuda is a priority of the Government. As such, the goal is to create a Food Cooperative that will support the use of technology, such as vertical farming and aquaponics, to boost domestic food production. One of the first projects to meet this goal will be a large-scale vertical farming facility, partially powered by renewable energy that will produce 35% of Bermuda’s demand for annual leafy vegetables.
The Bermuda Economic Development Corporation’s (BEDC) work to establish a local Food Cooperative that uses Controlled Environment Agriculture (CEA) technology to boost domestic food production, increase food security, and lower food cost is ongoing. The BEDC has met with and started its due diligence process with a new international partner interested in the project.
The project is ongoing as we determine the way forward with the new international vertical farm company.
Updated data has been compiled on imported lettuce as follows:
LETTUCE IMPORTS TO BERMUDA
YEAR KILOS POUNDS VALUE DUTY
2020 382,210.17 842,628.18 $959,151.68 $47,876.32
2021 488,635.47 1,077,255.53 $1,216,668.90 $60,786.84
2022 602,297.73 1,327,837.62 $1,944,014.20 $96,960.46
TOTAL: 1,473,143.37 3,247,721.34 $4,119,834.78 $205,623.62
This is over and beyond what local traditional farmers produce. This also validates that there is an opportunity to reduce food imports by growing locally, at least with this food crop.
Online SME Marketplace
An online SME marketplace will allow entrepreneurs easy access to sell their goods and services online without dealing with costly individual setups, hefty monthly fees and merchant account complexities.
The online platform, aptly named byBermuda, is a local marketplace where people come together to sell and buy unique Bermudian products and experiences. It’s a community of local entrepreneurs, highlighting the best of Bermuda’s innovative products and services while allowing connections to local consumers and those beyond Bermuda’s shores. With byBermuda, there’s no warehouse – just Bermuda’s entrepreneurs selling the things they love. The BEDC makes the whole process easy, removing the expensive cost and hassle of an online presence for businesses while helping consumers connect directly with makers to find or experience something extraordinary through a convenient and central Bermuda-branded hub.
Pilot businesses have been on-boarded thus far to test the software.
BEDC clients will be on-boarded from mid-June to the end of July 2023 to further test the platform and back-end master merchant cash reconciliation process.
August 2023 is the anticipated launch to the broader small business community and the public.
Residential Developments in Bermuda’s Economic Empowerment Zones
The Government aims to support the construction of residential developments in Bermuda’s Economic Empowerment Zones to increase the supply of quality, affordable residential accommodation, driving down rental costs.
The Government seeks to stimulate growth in Bermuda’s economy, particularly within the island’s 3 Economic Empowerment Zones (EEZs – Northeast Hamilton, Somerset, and St. George’s), by widening the scope of potential investments providing for the creation and support of Residential Approved Schemes. Notwithstanding the rich histories within these three zones, it is evident that additional investment is needed for the areas to reach their full potential economically, physically, and socially. As such, the Residential Approved Scheme initiative provides a mechanism by which the Government, the EEZ stakeholders, and the country can achieve this goal. Restrictions on land ownership have been removed – incentivizing a broadening of potential investments in the EEZs, and in doing so, further diversifying the potential demand for residential developments, bringing economic growth to these locations.
The goal is development without displacement, where Bermudian EEZ landowners must be incorporated in every approved scheme. As such, a scheme will only be approved if the existing property owner is involved in a tangible and impactful way. Every approved scheme will also create new jobs for Bermudians. For continued investment within the economic empowerment zones, land license fees associated with purchasing the residential units will go into an EEZ community development and investment fund to assist with investing in the people and the programmes in the Zones.
The BEDC consultant team continues to progress towards establishing relationships with investors and developers, meeting with key stakeholders, and developing promotional collateral and a focal website for the initiative. The team are developing new economic development tools to generate more interest in the EEZs.
National Space Strategy
The Bermuda National Space Strategy 2020-2025 will include the establishment of a ‘space ecosystem’ by 2025 and has the following strategic goals:
- Build Bermuda’s reputation as a responsible, leading jurisdiction for space and satellite-related business;
- Enhance domestic space and satellite-related capabilities;
- Further integrate Bermuda with the international space community; and
- Generate revenue from national orbital allotments, of which Bermuda has four.
As more companies look to space, Bermuda can play an important role.
The Bermuda Development Agency (BDA) is actively engaged in marketing and outreach to potential licensees. Marketing efforts continue attracting earth stations to Bermuda. Visit http://www.space.gov.bm/ and https://www.bda.bm/industries/infrastructure/ for more information.
Establish Sub-Sea Communications Sector
Introduce and establish a sub-sea communications sector in Bermuda, supporting plans to develop a sub-sea telecommunications protection zone.
A sub-sea communications sector will allow Bermuda to position itself as the North Atlantic communications hub and allow the island to reap the benefits of an industry that provides global connectivity and data protection in an increasingly online world.
The legislatve framework for this initiative is complete. The Regulatory Authority has posted the application and the requirements on its website at https://www.ra.bm/. The Business Development Agency is promoting the availability of two submarine communication cable licenses https://www.bda.bm/industries/infrastructure/. There is also synergy with the National Space Strategy, as earth stations require cables to transmit data and information. Therefore, the more interest in earth stations, the more interest in increasing capacity with submarine cables.
Theme 2: Financial Markets
Lower Interest Rates to Reduce Mortgage Costs
Reduce the cost of mortgages by lowering interest rates through measures to increase competition in the banking sector and by working with local banks to provide security for mortgage loans.
The Government is currently in Phase 2 of its Mortgage Guarantee Programme with Bermuda Commercial Bank.
In this phase, any first-time homeowner is eligible for a mortgage at a preferred rate starting at 5%, and all public officers are eligible to transfer their mortgage into the programme and receive the preferred rate starting at 5%.
The Mortgage Guarantee Programme is a pilot programme while the Government continues developing an initiative to reduce interest rates across all major local banks.
The Government recently received a preliminary report on the initiative and continues to engage with key stakeholders to determine a path forward.
The Government expects to have decided on the preferred path by the last quarter of 2023.
BEDC COVID Support to Small and Medium Sized Businesses
Through BEDC, they continue to support small and medium-sized enterprises (SMEs) that demonstrate robust business plans and long-term viability in the post-pandemic economy. The BEDC received a $12,000,000 grant which has provided essential support and assistance for SMEs.
Program ended November 2022
The BEDC has deployed $6m in COVID support to SMEs. The BEDC funding for COVID support has ended, and this initiative is considered to have achieved its intended outcomes. There will be no future updates on this initiative.
The BEDC continues to support SMEs with additional initiatives add, such as:
- Business Services grants program to support SMEs with professional services, such as accounting, marketing and legal.
- Increase direct funding limits available to each business
- Grants to assist with reducing operating costs to businesses. e.g. energy audit
Bermuda National Digital Bank
Continue exploratory design and legislative work around creating a Bermuda National Digital Bank.
The Government is committed to creating a Bermuda National Digital Bank with shares available for Bermudian ownership, allowing a new generation of investors to create lasting wealth by supporting the next wave of financial services, connecting Bermudians to the global world of digital payments.
The initial business plan presented four pathways to implement the Bermuda Digital Bank. The Ministry of Finance continues to work with the Bermuda Monetary Authority to determine the best path forward to execute this project in the near term while ensuring the bank meets the standards for being licensed in Bermuda.
Theme 3: Infrastructure Investment
Tynes Bay Water and Waste Treatment Facility
Upgrade the water and waste treatment facility, a much needed and long overdue modernization of the antiquated system of waste management on the island.
The Government continues to review the current system for handling Water and Wastewater and working with the private sector to facilitate systems that would properly treat sewage waste across the island, including the two Municipalities.
Phase one of this massive undertaking involves trenching much of the main roads in St. George’s and similar work in Southside, completely replacing the infrastructure from piping, pumping stations, water producing plants and waste treatment plants, providing relief to the long suffering residents of these areas in providing reliable potable water and waste water services. This project addresses the country's needs of getting people working, earning and providing for their families while their valuable labour transforms Bermuda’s infrastructure for the better.
In March 2023, an agreement was finalized with KPMG to commence work on deliving of the Tynes Bay Business Plan.
Ongoing plant stabilization work continues:
- Emergency Boiler Works - The final phase of the $13M boiler refurbishment is ongoing.
- Short Term continuity - Evaluation of a tender for the stack refurbishment is complete and being finalized. Contract issuing in progress.
- Two refuse cranes, estimated at around $4.5M, have been approved.
- A separate contract will be issued to the firm to perform the major turbine servicing ordered, with work to take place in 3 months.
- Two transformers were approved.
- Work into planning for electrical system replacement elevated due to recent failure in bus bar system.
Shoreside Facility to Process Fish
Complete the Shoreside Facility to Process Fish, AKA Fisheries Development Center (FDC), to process fish caught in Bermuda while supporting a cooperative purchase of larger shipping vessels to increase the domestic capture of fish, reducing imports and providing the option for exporting fish.
The Government, through the Bermuda Economic Development Corporation (BEDC), is working to develop a plan for an FDC in partnership with representatives from the Department of Environment and Natural Resources (DENR) and the Fishermen’s Association of Bermuda (FAB).
Commercial fishing is one of the oldest industries in Bermuda and continues to be an essential part of Bermuda’s culture. However, its contribution to the economy has yet to grow proportionally to Bermuda’s population size or economic growth.
The FDC can be the catalyst that transforms the island’s artisanal commercial fishing industry to the next level. FCD can make it profitable for all participants while improving the island’s food security by providing high-quality, sustainably harvested seafood from local resources, and diversifying the economy. The FDC will be able to offer several products and services for the industry, including those related to wholesale; retail; export; by-products; and on-site experiences.
The Bermuda Economic Development Corporation continues exploring partnerships to improve Bermuda’s sustainability of the fisheries industry.
Bermuda Economic Development Corporation is presenting the final report of the Business Plan to the Minister, laying out the project’s next steps.
Electric Vehicle Charging Infrastructure
Support the development of electric vehicle charging infrastructure across the island.
The Steering Committee responsible for the project convened and approved the Terms of Reference, Goals & Deliverables and Work Plan.
As part of the first Phase of the Work Plan, the Steering Committee has started a needs assessment, focusing on the current status of EV charging on the Island and potential future demand for infrastructure based on transportation and location types.
Construction is ongoing at the Fort Langton Bus Depot for the Electric Bus Charging Facility (EBCF), expected to be complete by the end of October 2023.
Increase Affordable Housing
Through continued infrastructure investment, the Ministry of Public Works will increase the stock of affordable housing throughout the country.
Through continued infrastructure investment, the Ministry of Public Works will increase the stock of affordable housing throughout the country.
The BHC has 700 units that are presently occupied – the maximum capacity. A renovation programme is underway to provide an additional 77 units to the inventory, bringing the total number of rental units to 777. The BHC has reported on the following progress to properties highlighted:
- 3 Rock Oven Lane - Works continue on site; however, due to the inclement weather the past couple of weeks, this project is scheduled to be completed on August 12, 2023.
- 5 Aunt Jinny's Lane - Due to the inclement weather the past couple of weeks, this was completed on June 30, 2023.
- 18 North Shore, Smiths – Due to scheduling conflicts with the kitchen cabinet vendor, installation commenced in June 2023 was completed by July 14, 2023.
- Harmony D & E - Quotes for the interior demolition were presented to the BHC board for approval on Wednesday, June 21, 2023. Interior demolition will commence shortly thereafter.
- 27 Beacon Hill – Completion on track for July 28, 2023.
- 18 and 20 Battery Road - BHC has received approval of revision from the fire department and now awaits building department approval. Plans were revised to increase the unit count from 14 to 16 units.
- Chelsea Apartments - Revisions in progress. The assessment is complete, and revisions are being drafted to be sent to planning for further consultation as the property is a Grade 3 listed building. The revisions include a proposal to increase the number of units from 9 to 10.
- 1 Grandstand Lane - Works are underway and scheduled for completion on July 31, 2023.
- Harmony Hall – B Block - Completion on track for July 28, 2023.
- Regent House, St. George’s – New Belco connection has been completed. The SKB roofing was delayed due to the unusually large amount of rainfall and days of rain. Lofts are completed, and works have commenced installing the vinyl flooring. Completion is now estimated to be July 20, 2023.
- Battery Road Lofts, St. George’s - Estimated date is now August 15, 2023, as there was a delay due to material availability and issues with hard rock during the excavation of the tank works, plus rain weather delays.
Uptown Development in Northeast Hamilton
Implement the Northeast Hamilton Development Plan and drive residential development projects in the area.
Since the dismantling of the Economic Empowerment Zones Agency in 2014, there has been a noticeable absence of a dedicated body solely focused on driving economic regeneration in Northeast Hamilton. As such, dedicated resources will be assigned by the Bermuda Economic Development Corporation, whose remit is to facilitate the economic, physical, and social development of the Northeast Hamilton Economic Empowerment Zone (NEHEEZ).
Effective development of the NEHEEZ will require a holistic approach that builds on existing efforts to develop Uptown with key community stakeholders as partners. The NE Hamilton Development Team must be flexible, responsive, and empowered to carry out various functions in order to develop the economic, social, and infrastructural capacity of residents and business owners within the North East Hamilton community.
The BEDC continue to make presentations to investors to regenerate NE Hamilton.
The BEDC held a public/stakeholder meeting with property owners in NE Hamilton on June 13th.
www.uda.bm website is live and will be another tool to attract and promote the area.
Market research is taking place to compile data on demand for residential units. This will help developers quantify the demand in the area.
Green Energy Fund
In partnership with international companies, set up a Green Energy Fund to provide capital to deploy solar installations throughout the Island.
The Department of Energy will create a Green Energy and Environmental Justice Fund, which will encourage local and overseas investors to provide funding for:
- Installing solar for residential homes and small businesses;
- Additional training to develop solar installers and energy managers;
- The initial investment to entrepreneurs who are looking to enter the renewable installers or energy management business.
Community Solar has been identified as the best investment model for the Green Energy Fund. Energy Infrastructure Partnership is producing the models. Finance Earth is expanding its model to include blue and green renewable energy, which will include the community solar solution. The difference between the Blue Economy Strategy and the Green Energy Fund strategy is that the Green Energy Fund will specifically provide opportunities for local companies and jobs and will directly benefit our communities.
Theme 4: Expanding the Resident Population
Economic Investment Certificate (EIC) Program
Implement an Economic Investment Certificate to enable people to obtain the right to reside in Bermuda in return for making an economic investment in the island. Successful applicants, their spouse and any dependent children will have the right to reside in Bermuda for 5 years if the applicant makes an investment of at least $2.5 million in eligible investments.
The Economic Investment Certificate & the Residential Certificate Program encourages and enables high-net-worth individuals to make substantial economic investments in Bermuda. The EIC policy was designed to stimulate economic activity, create the environment for job creation, and help market Bermuda as a place to reside and do business. EIC recipients are required to invest a minimum of $2.5 million into the Bermudian economy, and investments may be made in one or more investment categories. Benefits for investors include residency rights, among other benefits.
The Economic Investment Certificate and Residential Certificate Policy can be found here.
The Minister has approved thirty-seven (37) Economic Investment Certificate Applications. Currently, eighty-nine (89) persons hold an Economic Investment Certificate, which has generated in excess of $425 million.
The Government of Bermuda has partnered with the Bermuda Business Development Agency to provide a Concierge service for interested and highly qualified individuals. For complete information and to register your Expression of Interest, please click here to go to the BDA Website. A revision of the 2021 Economic Investment Certificate and Residential Certificate policy will be referred to as the Economic Investment Residential Certificate policy with all verification requirements continuing as was done under the former 2021 Policy.
The primary intention of this policy change is to increase and sustain economic activity and to create jobs in Bermuda. The revision as of 31 March 2023 will allow the Minister to grant a Residential Certificate without the need to wait five years after an EIC has been granted.
Extension of the Temporary Residency Certificate (1-year)
Allow re-applications for Temporary Residency Certificate, enabling people to have residency in Bermuda for 1 year.
To capitalize on the increasing number of Digital Nomads and students in tertiary education completing their courses online, the One Year Residential Certificate allows such persons the ability to reside in Bermuda while working remotely, and Non-Bermudian Post-Secondary Students the ability to complete their higher education from Bermuda. They will be enjoying life in Bermuda while contributing daily to the local economy.
This initiative has yielded continued economic activity in Bermuda. Since launching the ‘Work from Bermuda’ (WFB) initiative on 1 August 2020, the Department of Immigration has confirmed the following:
|
Total Applications received |
1528 |
|
|
Total applications approved |
1197 |
|
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Total applicants who continue to reside in Bermuda |
282 |
|
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Total renewals/extensions granted |
194 |
Further Measures to Expand the Resident Population
Take further measures to expand the resident population, including making it easier for Bermudians to return home by amending current policy requiring Bermudian parents to prove domicile for children born overseas; seeking provisions to regularize the position of long-term residents; and increasing visitor stays from 90 to 180 days.
In its efforts to retain and expand the residential population in Bermuda, the Government increased the maximum period that visitors may stay on the island without further permission from the Minister responsible for Immigration from 90 days to 180 days.
Further, with the implementation of the Repatriation and Mixed Status Families legislation (Bermuda Immigration and Protection Amendment Act 2020) the Government has allowed for persons born overseas to Bermudian parents to be Bermudian from birth as of the effective date of the legislation and moving forward.
Additionally, in March 2021, the Department of Immigration removed the administrative requirement for applicants to produce an Affidavit of Domicile to better facilitate persons born overseas to Bermudian parents to apply for and obtain Bermudian Status.
Additionally, legislation to advance comprehensive immigration reform by providing a process for Long-Term Residents to apply for Permanent Residency in Bermuda was passed in October 2021 and was completed once the Immigration Amendment Act came into force on 1st December 2021. The Government has also released a Position Paper on Long-Term Residents here.
On January 2022, the Department of Immigration began accepting applications for Permanent Resident’s Certificates (PRC) based on the new provisions under the amendments to Section 31 of the Bermuda Immigration and Protection Act 1956. As of January 2023, the Department had received 189 applications for PRC, and 53 have been approved.
On 1 September 2020, the Repatriation & Mixed Status Families amendments to the Bermuda Immigration and Protection Act 1956 came into force. On 14 September 2020, the Department of Immigration began accepting applications for matters covered under the legislation. As of the end of October 2022, the Department had also received 188 applications for PRC and Bermudian Status.
In 2023 this focused initiative is active and evolving. The Ministry of Economy & Labour (MoEL) is progressing with designing and creating a Strategic "Road Map” with defined objectives to achieve measurable and positive outcomes.
Theme 5: Labour Market and Social Development Measures
National Reemployment (Jobs) Strategy
Work closely with employers to implement the National Jobs Strategy which aims to reduce unemployment, prevent future unemployment, create ease of access to employment opportunities, and increase opportunities for the training and development required to equip Bermudians for the current and future world of work.
The National Reemployment Strategy focuses on creating employment opportunities, enhancing the labour supply, promoting equality and equity in the labour market, and building a more robust workforce through information, training, and education.
The Department of Workforce Development provides career development and training opportunities for Bermudians, including:
- Career counselling
- Job searches
- Resume writing and interviewing preparation
- Job readiness programmes
- Professional development assistance
- Summer employment programmes for college students
The Department also provides support to businesses in Bermuda looking for new employees, including:
- Employee referrals
- Processing job vacancies
- Running the Bermuda Job Board (improvements are currently being made to add more functionality to the website)
The Department of Workforce Development continues to develop new training and certification opportunities. Such as:
Sustainable & Stable Renewable Energy: In partnership with Enlightened Expertise, interviewed candidates who showed interest in solar and renewable energy installation.
Six (6) candidates will be chosen for a training program set to begin in July for four weeks.
Youth Employment Strategy
Implement our Youth Employment Strategy to meet the identified needs of unemployed persons between the ages of 18 and 26, guide unemployed Bermudian youth back to work and train them in jobs currently occupied by guest workers.
The Youth Employment Strategy will eventually form part of the National Reemployment (Jobs) Strategy and will allow the Government to focus its efforts on this demographic group. Therefore the Youth Employment Strategy is currently being developed separately.
The Department of Workforce Development has introduced an Asphalt Training Programme: In partnership with the trade/construction industry, the Asphalt Training Programme was developed in partnership with Joell’s Asphalt Construction and Hayward Eng.
GMICE was contracted as the training provider to deliver training to fill gaps in the construction industry. The owners of Joell’s Asphalt Construction and Hayward Eng. are former clients of the Department of Workforce Development as well as former employees of Works & Engineering. The training programme is being delivered in partnership with internal and external stakeholders within the construction, vocation and trades industry. Resources include both public and private sector businesses, such as Bermuda Government and East End Asphalt, along with small sub-contractors. Research and consideration included looking at community needs and the state of Bermuda roads for road maintenance.
The NCCER Certificate programme Core Basic Construction Skill is the certification used as the credential for qualification. Industry professionals and employers are also engaged to support the theoretical and practical training of youth ages 16 – 24 of age. The intent is to provide on-the-job training with employment opportunities supported by the National Occupational Certification Act 1994 to expand the talent pool of young Bermudians interested in the trades. The curriculum also includes elements of Bermuda Highways Construction (Asphalt) repair and maintenance.
This programme provides the opportunity to assist Works & Engineering with road maintenance and Workforce Development (DWD) by giving young people, clients of DWD paid on-the-job experience and accredited certifications for trades. Tangible and intangible benefits of the programme provide trainees invaluable soft skills, employability skills, life-skills and experience to become responsible adults. The NCCER training curriculum, as a guide, will track the results of the participants to ensure that training effectiveness can be measured.
These trainees will gain new skills that can help fill the biggest in-demand skill sets, including electrical, carpentry, welding and plumbing and construction equipment operations, to name a few. Through training, learning and earning, these trainees will also be empowered how to learn various new skills and trades in the construction industry.
The benefit and return on investment that we wish to receive from this programme would be to have all eight trainees successfully complete the Asphalt training programme and receive full-time employment.
(8) Candidates that are enrolled, are set to conclude their training on July 28, 2023.
Please visit Bermuda Job Board for updates on employment opportunities.
National Unemployment Insurance
Establish a National Unemployment Insurance scheme that will provide income protection for Bermudian workers who find themselves displaced from the workforce.
The Government, and a wide range of stakeholders will consider the main issues in implementing an Unemployment Insurance Plan for Bermuda, including eligibility, contributions, benefit amounts, duration of benefits, funding, administration, staffing, and legal matters. The goal is to develop an Unemployment Insurance Scheme to provide critical social protection to support displaced workers and their families, allowing them to receive a basic income in their time of need.
The Government, continues to consult with a wide range of stakeholders in developing an Unemployment Insurance Scheme. To ensure coverage during this development phase, as a stop gap measure named Sudden Hardship Benefit (SHB) was put in place by the Department of Financial Assistance.
This newly created program is designed to provide Bermudian individuals or families with short-term relief for expenses caused as a result of a sudden hardship. This proposed emergency funding program will be designed to provide short-term relief to individuals and households in need of temporary financial assistance. The basis of the program is to enable participants to meet their immediate needs while seeking long-term solutions to remedy their situation. It is designed to provide individuals with an ‘uplift’ in their circumstances – it is not meant to create a dependency. This monthly funding of fifteen hundred dollars ($1,500) will be available for a defined period of three consecutive (3) months to help with an imminent crisis such as recent unemployment.
Implement Minimum and Living Wages
Finish implementing minimum and living wages to ensure workers receive a dignified wage which allows them to cover their basic needs.
The public is aware of the challenges facing many hard-working Bermudians who struggling daily to ensure their family’s basic needs are met. This Government is confident that as we move toward establishing a minimum wage in alignment with a living wage regime, it will improve the lives of many by ensuring that they receive fair and just wages allowing individuals and their families to cover their basic needs.
Generally speaking, a minimum wage refers to a minimum amount an employer is required to pay to persons for their work during a given period, ensuring a minimum threshold for wages across the board. A living wage refers to an amount of minimum hourly pay needed to allow workers and their households to enjoy a “socially acceptable standard of living”.
The Employment (Minimum Hourly Wage) Order 2023 went into effect on 1 June 2023, which sets the minimum hourly wage rate for Bermuda at $16.40. The Order requires employers of low-wage earners to amend their contracts and/or statements of employment to ensure that they are compliant with the minimum wage.
The Employment (Minimum Wage Entitlement) Act 2022 sets out the guidelines for who is entitled to receive a minimum hourly wage and the enforcement provisions regarding adherence to the payment of a minimum hourly wage rate, among other things. Additionally, it gives Labour Inspectors the authority to investigate an employee’s complaint against his employer and issue enforcement notices to employers who have failed to correctly remunerate their employee pursuant to this Order.
The Order provides for a hybrid payment structure for employees who receive commission, gratuities and service charges. These employees will receive a basic wage set by their employer, to which service charges, gratuities and/or commissions will be added to guarantee a minimum hourly wage rate of $16.40. Where an employee’s basic wage plus service charges, gratuities and/or commission does not equal the minimum hourly wage rate of $16.40, their employer will be liable to provide the difference. This guarantees that an employee will receive the minimum hourly wage rate for every hour worked.
https://www.gov.bm/articles/minimum-hourly-wage-rate-advisory
Integrated Agricultural Strategy
The general objectives of this strategy are:
a) To assist in lowering the cost of producing good quality local food by making inputs cheaper.
b) To help reduce preventable losses of locally produced food.
c) To provide good quality storage of produce.
d) To identify opportunities to enhance local production through the addition of new crops and technologies to grow these new crops and/or existing crops more efficiently.
e) To provide direct assistance to local farmers through advice, training and services to improve output and reduce preventable losses of locally produced food.
f) To explore means of making more land available for production and to use that which is in production more efficiently.
g) To explore opportunities to add value to locally grown food.
h) To encourage greater participation and job growth in the agriculture sector
Department of Environment and Natural Resources has engaged an Agronomist to help produce a study on Bermuda’s food production and other initiatives listed below. The Agronomist continues to visit Bermuda and meet with the farmers and the Department of Environment and Natural Resources. His last visit was June 2023 and his reception has been positive within the community. He will make recommendations on the following topics as part of the overall study:
• Agriculture management and technological innovation
• In-field disease identification and prevention
• Soil health and management
• Seed selection and assessment of crop seed varieties to produce the best yields
• Securement of materials and supplies for the agriculture industry
• Pesticide use and their application
• Grading Standards
• Post-harvest handling and added value
• Development of training and education programs, policy development and provision of advice.
Theme 6: Healthcare
Universal Health Coverage
Introduce a Bermuda Health Plan ensuring access to affordable universal healthcare for all. Designed with technology at its core to maximize efficiencies and data-driven care, the integrated healthcare model will allow the public and private sectors to work together to reduce Bermuda’s healthcare spend while improving healthcare outcomes. This will reduce the dependency on expensive hospital care and focus more on prevention as well as primary and community care.
Universal Health Coverage has several linked projects that are continuing to make progress.
Joint Strategic Needs Assessment (JSNA) is currently undergoing a final review. Once complete, the report will be in a position to be shared with the general public. The target completion date is early to mid-July.
The National Health System Metrics project has officially been kicked off and the core working group has been identified and convened. The group will be charged with developing the monitoring and reporting framework, which will allow Bermuda to regularly track key health system metrics at the health system level.
Both the First 1,000-day and Mental Health care pathways are in their final stages for completion. A final report summarizing the key findings and recommendations is being drafted and to be reviewed by the UHC Steering Committee for project signoff.
National Procurement Assessment has gained progress by acquiring data from external stakeholders. The majority of data solicited has been collected and is currently being consolidated prior to performing an analysis.
Chronic Kidney Disease pathway, this project is progressing at a rapid pace with roughly 50% of the stakeholder interviews now being completed and the first stakeholder workshop was held in June 2023.
Reduce Medicine Costs
Work with pharmacists, hospitals and physicians to reduce the costs of medications. As part of this, mandate pharmacies to provide pricing information on the most commonly prescribed medications, so that the Government can establish a National Drug Formulary that will set maximum pricing for these medications, which will reduce costs to consumers.
In order to determine the essential medicines for Bermuda in diabetes, cardiovascular, pulmonary, and kidney disease and cancer the Pharmacy & Therapeutics Committee will continue to review at minimum 20-30 medications per quarter for the National Drug Formulary. These reviews are in consultation with the medical experts in Bermuda who specialize in the treatment of these top conditions, and in consideration of the data on prescription habits and medicine availability being gathered from Bermudian pharmacies and wholesalers. The essential medicines for Diabetes were finalized on June 14th and published on the BHEC website https://bhec.bm/
The selection of these essential medicines coupled with the data from pharmacies and wholesalers will allow the Health Council to ensure that these essential medicines are being offered in Bermuda at the best possible prices and as consistently as possible.
Working together with Bermudian pharmacists and pharmacy owners has allowed for significant advances in the amount and accuracy of the data being gathered by the Committee regarding medicines use and pricing on island where no such data (or method to collect this data) on island previously existed. Regular data requests will continue to be submitted to pharmacy owners and received by the Committee to aid in the selection of essential medicines. The collected data will also enable the Council to assist in determining the best medicines procurement strategy for Bermuda.
Theme 7: Regulatory Framework
Energy Regulatory Sandbox
Develop an energy regulatory sandbox that will encourage developers of new renewable energy technology to test their products in Bermuda, giving Bermudians access to new technology.
A regulatory sandbox refers to a regulatory environment that allows innovators to test new technologies and business models without some of the red tape and other established barriers often faced by start-ups, innovators, and new entrants to the market.
The legislation and regulations have been gazetted and are now operational. The Company, Seabased, has been working on the Environment Impact Assessment with DENR in preparation for their application to the Regulatory Authority.
Marine Economic Development Zone
Introduce a full-scale marine economic development plan in our 200-mile marine Exclusive Economic Zone, with sound conservation goals that will provide sustainable fisheries policies and programs that will create positive incentives to encourage our existing and future commercial fishermen.
The Bermuda Ocean Prosperity Programme is a partnership between the Government of Bermuda, the Waitt Institute, and Bermuda Institute of Ocean Sciences (BIOS). The goal of the Bermuda Ocean Prosperity Programme is to foster the sustainable, profitable, and enjoyable use of ocean resources for present and future generations.
The consultation of the Marine Spatial Plan and Blue Economy strategy has been extended until the end of the year. The proposed legislation cannot be placed on the Cabinet agenda until we consult with the Governor about the EEZ.
This plan also includes marine enforcement which includes the following: The draft strategy is currently being updated to include Blue Shield Work plan 2022-2024. This project is on track and includes the Bermuda Coast Guard, Marine & Ports, Harbour Radio and DENR and also includes the US Coast Guard. The project funds are managed by the Ministry of Home Affairs. There will be some legislative changes that will be required during the implementation.
The consultation of the Marine Spatial Plan and Blue Economy strategy has been extended until September 2023.
Economic Empowerment Zone (EEZ) in South East Hamilton
Create an economic empowerment zone in South East Hamilton by extending the existing zone in North East Hamilton.
The BEDC has been tasked with establishing new and regenerating existing EEZs across Bermuda. The EEZs are designated geographical areas where special programmes are implemented to close the gaps of economic differences that exist in comparison to other areas in Bermuda. This involves providing economic tools to help local businesses thrive; working with key stakeholders to address local community issues; and engaging external partners to invest in these zones.
Despite being located on Hamilton’s active and beautiful waterfront and bounded by vibrant Front Street, South East Hamilton has not enjoyed the same level of economic development and regeneration success as can be found in other nearby geographic areas of the City of Hamilton, such as in South West Hamilton and North West Hamilton.
Given the focused attention on regenerating North East Hamilton through the implementation of the North Hamilton Local Plan, and the introduction of new economic development tools such as Approved Residential Schemes, the Government believes there is synergistic benefit in creating a new economic empowerment zone in South East Hamilton by extending the existing zone in North East Hamilton. This expansion will result in both a direct physical and economic link between Front Street and North Street, while providing the framework for complementary economic development benefits between the 2 neighbouring areas.
The Bermuda Economic Development Corporation has received the final report on the South East Hamilton proposed EEZ. The report is currently being reviewed by stakeholders.
Establish Regulatory Regime for Cannabis
Create economic activity by establishing a regulatory regime licensing all activities involved, directly or ancillary, to the cultivation, import, export, production, sale, supply, use or transport of cannabis or medicinal cannabis, incorporating the necessary safeguards to protect Bermuda’s children.
The Government is keen to introduce policies that will progressively liberalize Cannabis laws in keeping with public sentiment on the topic and aligning with other jurisdictions on the matter. A proposed policy sets out the framework of what a regulated Cannabis scheme might look like for Bermuda. It has been principally influenced by existing regulated Cannabis laws in other favourable jurisdictions such as Canada and small island nations in the Caribbean.
On 6 September 2022, the UK Government elected not to ascent to the Cannabis Licensing Bill 2022 as drafted. The Government of Bermuda intends to continue to advance this initiative, within the full scope of its constitutional powers, in keeping with our 2020 General Election Platform commitment.
In parallel with the ERP, Bermuda will also continue to move forward with planned educational reforms and other social policy measures; assessing possible areas of tax and pension reform; as well as additional government initiatives to support the vibrancy of Bermuda’s international business sector.
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