The Bermuda Business Development Agency (BDA) Enters New Era as Investment Promotion Agency and Appoints Managing Director

February 05, 2025 at 09:26 AM EST

--News Direct--

The Bermuda Business Development Agency (BDA) is taking a bold step forward in its mission to attract high-value Foreign Direct Investment (FDI) with the launch of an Investment Promotion Agency (IPA) model. This transformation focuses on delivering measurable economic outcomes — creating jobs, driving business incorporations, and strengthening Bermuda’s position as a premier global investment destination. Leading this evolution is Managing Director, Kendaree Burgess.

The IPA model represents a significant shift in how the BDA will engage with potential investors, anchoring its efforts in results and data-driven strategies. By focusing on key metrics such as business incorporations, long-term investments, and the growth of enterprises on the island, the BDA is positioning Bermuda as a premier investment jurisdiction.

A career executive with over 25 years’ experience across a broad range of sectors including financial services, hospitality, and healthcare, Burgess joined the BDA in March 2023, as Chief Operating Officer. Leading efforts to streamline operations, optimise systems, enhance efficiency, and improve organisational performance, she also spearheaded the transition to an IPA, setting a clear path towards successful implementation.

Prior to joining the BDA, Ms. Burgess was CEO of the Bermuda Chamber of Commerce where she not only focused on economic development, public policy, and fiscal responsibility, but also helped drive legislative changes to benefit industry, and Bermuda’s future economic development.

The BDA has bolstered its leadership team to drive the new strategy. Industry veterans, David Parker, Head of Business Development, and Simone Gibbons, Head of Marketing, Communications & Events, are tasked with driving targeted market engagement and brand positioning. Together, they will work alongside sector-specific business development managers and research and intelligence specialists to implement a strategy that identifies meaningful investment opportunities, builds lasting partnerships, and ensures Bermuda achieves sustained economic growth.

Olivia Joell has been promoted to the role of Stakeholder Relationship Manager, a new position created to deepen engagement with local industry and encourage reinvestment in Bermuda.

Recognising that a significant portion of FDI globally comes from reinvestment by companies already operating on the ground, this role is essential to fostering long-term partnerships and helping local and international businesses see continued opportunities for growth and success. Together, this diverse group is equipped to deliver on the promise of the IPA model by prioritising actionable, measurable outcomes that create lasting benefits for Bermuda.

Ms. Burgess said, “The transition to an IPA model redirects our focus to attracting Foreign Direct Investment that leverages Bermuda’s unique strengths and supports our economic goals. The BDA will prioritise sectors with the highest potential to diversify the economy, boost GDP, and advance key components of the government’s economic development strategy.

“This year marks a significant milestone in the BDA’s evolution. The IPA model is not just about strategy; it’s about delivering measurable, meaningful outcomes for Bermuda’s economy — things that matter to ordinary Bermuda residents, such as expanding opportunities across diverse industries. Over the next six months, we will focus on engaging with industry leaders and building partnerships that position Bermuda as a leader in global investment. This has been a pivotal shift in the BDA’s transformation. The resilience and adaptability of our team have been remarkable, and I look forward to engaging with stakeholders to unlock opportunities that will shape Bermuda’s economic future.

“Bermuda can expect clear evidence of the IPA model’s effectiveness through transparent reporting and concrete results. By prioritising outcomes that benefit everyday residents, we will demonstrate its success and impact on the island.”

Susan Pateras, BDA Board member, added, “The adoption of the IPA model is a bold and forward-looking step that equips us to meet the evolving needs of investors. None of this would have been possible without the support of our government and our industry partners. Under Kendaree Burgess’s leadership, the BDA is well-positioned to achieve tangible economic growth. Successful investment promotion requires a collaborative effort, and we are committed to working closely with Government and local stakeholders to create an environment where businesses can thrive.”

Media Contact:

Nadia Hall

PR & Communications Manager

M. +1 441 747 5269

E: nadia@bda.bm

Contact Details

Melvin Dickinson

Melvin@bda.bm

View source version on newsdirect.com: https://newsdirect.com/news/the-bermuda-business-development-agency-bda-enters-new-era-as-investment-promotion-agency-and-appoints-managing-director-881608131

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The Bermuda Business Development Agency (BDA) Enters New Era as Investment Promotion Agency and Appoints Managing Director

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