GuernseyFinance has welcomed plans by Cable & Wireless (C&W) to develop a state of the art telecommunications infrastructure in the island.
C&W has announced details of a GBP 6.5 million project to install two new fibre optic links connecting the island to the company's global network.
As well as providing for the future needs of islanders and businesses, it could also attract new investment and diversification, as companies look to locate operations in Guernsey and take advantage of the island's world-class links.
The plans were unveiled on Thursday in a special presentation by C&W deputy chairman Lord Robertson. In an address to local politicians and business leaders, the former UK cabinet minister and secretary general of NATO said it would put the island on a par with major cities and leading international financial centres across the world.
"Guernsey will become a world-class telecommunications hub, with secure, high performance global connections that are capable of supporting the highest quality services," he said. "As well as providing for the future needs of islanders and businesses, it will attract new investment and much-needed diversification, as companies look to locate operations here and take advantage of the island's world-class links."
And GuernseyFinance chief executive Peter Niven believes C&W's investment will enhance the island's reputation as a world-class centre for finance.
'Our international telecommunication links are key to the island's ability to compete on the global stage and attract business from all over the world for financial services providers in Guernsey," he said. "With the investment Cable & Wireless is making, we will have telecommunications that will be the envy of all our competitor jurisdictions.
'Local finance businesses will also be able to harness the benefits of the very latest innovations and services, which will be a clear boost to doing business in the island. It is yet another reason why business should relocate to Guernsey.'
The new connections will give the island's financial services and business sectors direct access to the global Cable & Wireless' telecommunications network, which already links many major cities and international financial centres across the world. These include London, Hong Kong, New York, Sydney, Tokyo and Paris.
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