By Angela Piercy

University students from the ‘Hoosier State’ – Indiana – recently got a closer look at the Cayman Islands’ economy.

Five students from Anderson University were in Cayman the week of 5 January, visiting businesses and meeting with public and private sector agencies. The visit was facilitated by Suahil Housholder, née Scott, a Caymanian currently employed at the Indiana institution while also completing a master’s degree.

Mrs Housholder said the trip provided insight into local commerce.

‘Our objective on island was to explore and experience Caymanian culture and gain an understanding of business environments, and typical business methods and practices’, Mrs Housholder said. ‘The overall impression of Cayman’s business environment is that it is sound and sophisticated, yet easy to understand and manoeuvre.

‘We learned that what makes Cayman an excellent investment centre is its excellence in financial and legal services; sound financial monetary strength, including its fixed currency exchange with the US dollar; its tax-neutral structure; ease of travel, with close proximity to the US; and the Island’s time zone, modern infrastructure and development, reliability of electricity and telephone services’.

Joining Mrs Housholder were Anna Ferguson, Brenda Hammons, Zack Hufferd and Austin Young. All are studying in the Falls School of Business.

The students visited the Department of Commerce and Investment (DCI), Cayman Islands Monetary Authority (CIMA) and the Cayman Islands Chamber of Commerce.

DCI Director Ryan Rajkumarsingh explained during his presentation that ‘Cayman competes with the world for investments, along with other Caribbean countries. We try to create an environment that encourages and supports investors and we have won awards for doing so’.

CIMA Deputy Head of Policy and Development Judiann Myles told the students in her presentation that CIMA’s functions included ‘issuing currency, regulating the financial services industry, assisting overseas authorities and advising local government’.

In the private sector, the group toured Cayman National Bank, Caribbean Utilities Company, The Ritz-Carlton and Dart Enterprises. The students also squeezed in a media appearance on Radio Cayman and a stop at Mrs Housholder’s alma mater, Triple C School.

‘We visited Triple C School because of Anderson University’s rich tradition and ties to the school,’ Mrs Housholder said. ‘It was a pleasure to return, and share my story and journey to Anderson University, with the current junior and senior class.

‘Our team’s impression of Cayman’s people is that they are friendly and welcoming; they particularly were impressed by the willingness to share information. Our students left enamoured with the Cayman Islands. And I left proud to share our beautiful Island and people.’

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IMAGE: en.wikipedia.org