Cayman's mature information and communications technology
infrastructure has been an important draw for businesses to
domicile in this jurisdiction, as highly prized as its high
regulatory standards and tax-neutral status.
There is a thriving ecosystem of information and communications
technology in Cayman, all delivering a variety of ICT services to
businesses that promise security, privacy and service-level
guarantees. In particular, the island depends upon a first-class,
dependable and secure fibre optic network, which has been vital to
the success of the Cayman Islands.
In recent months, the telecoms industry has pledged to augment
the already extensive fibre footprint in Cayman with new fibre
installations around the island. By providing world-class services
to the Cayman Islands, telecommunications improve along with
entertainment services, while economic growth will also be
fostered, which means that ultimately everyone in the community
Telecoms companies are evolving to provide specific services
requested by the financial services industry, which not only
include fast and reliable Internet access, but also predictable
access to the world's markets. Financial services industry
customers have sophisticated requirements, including demands for
predictable performance for their trading applications. While
private dedicated circuits are the standard method by which
connectivity is offered by telecoms providers for their customers
to the global markets, new products such as Predictable IP for
traders give financial services industry customers the perfect
trade between private circuits and the Internet.
Along with telecoms providers, data centre and hosting providers
need to be agile, as Taron Jackman, partner with Deloitte,
explains: "There is no standard company in Cayman –
there are clients who need dedicated server rooms for a complete
production site, through to clients who simply need a recovery
seat. The aim is to provide flexible infrastructure tailored to
each specific organisation".
Cayman Enterprise City (CEC) is a Special Economic Zone created
by the Cayman Government and is one such example of a thriving
sector of industry, the success of which has been largely dependent
on a fast and reliable telecommunications network. It enables
international businesses to move more quickly and cost-effectively
to establish a physical presence in the Cayman Islands and benefit
from substantial operational cost savings, provided by unique
concessions granted by the Cayman Islands Government. CEC has
benefitted extensively from the high level of telecommunications
service offered in the Cayman Islands. It is anticipated that, in
turn, CEC will help to facilitate further growth of this sector
within the Cayman Islands when its five business parks are
developed, with one, the Cayman Internet & Technology Park,
concentrating on attracting companies within the sector.
A first-class, dependable and secure telecommunications network
is vital to the success of the Cayman Islands international
business segment. As the demand for capacity and data speeds
increases, companies will be assured to know that there are
facilities in place that can meet all of Cayman's international
bandwidth requirements, for the foreseeable future.
Through business-friendly legislation aimed at fostering the
offshore market and complete redundancy of ICT infrastructure, the
Cayman Islands is well positioned to exceed the needs of
international business today and in the future.
About the Author
In Richard Munday's role as Vice President of International
Business Development at Keytech, he can be found dealing with
contract disputes, network design, regulatory fillings, financial
modeling or a myriad of other challenges. What fulfills his life at
work is solving unusual problems through collaborating with his
internal and external colleagues.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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