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A comprehensive round-up of the latest business news covering all sectors within the Isle of Man’s diverse and dynamic business environment. ISLE OF MAN EXPLORING INTERNATIONAL LOTTERY PROVIDING CRITICAL NEED AFTER CYCLONE IDAI Digital Isle of Man, an Executive Agency within the Department for Enterprise, is seeking input on proposals to develop a Manx International Lottery. A major Island bank is playing its part to help fund aid following a devastating natural disaster in southern Africa. The proposed Manx International Lottery would see an exclusive licence issued to an operator under new primary legislation with an annual licence fee set by the Treasury. Standard Bank Isle of Man Limited has donated £15,000 raised through fundraising activities to survivors of Cyclone Idai, which impacted Mozambique, Zimbabwe and Malawi earlier this year. The operator would be solely responsible and accountable for the operation of the lottery, guaranteeing prize amounts and ensuring payouts. Approximately 1,000 people were killed by the extreme storm which also left an estimated 100,000 at risk of disease. The proposal has been shaped through collaboration from Digital Isle of Man, the Treasury and the Isle of Man Gambling Supervision Commission. The bank has given vital funding to World Vision International which has been responding to the disaster by providing food and water, shelter, medical and hygiene kits and sanitation for those affected. WVI estimates more than 34,000 children have been impacted in Malawi alone, with in excess of 500,000 people displaced in Mozambique and more than 50,000 in Zimbabwe. Laurence Skelly MHK, Minister for Enterprise, commented: ‘The development of a Manx International Lottery could be a positive opportunity to raise the profile of the Isle of Man around the world, raise valuable funding for charitable projects, and generate additional income for the Manx taxpayer. The development of this new product would also further diversify the growing digital economy here in the Isle of Man, showcasing the innovation and commitment to the sector as well as adding local jobs and expertise. ‘There are a number of ‘national’ lotteries around the world, so we are issuing this initial notice as an exercise to fully understand the feasibility of this new product and the potential of the market.’ To test the market for a potential Manx International Lottery, Digital Isle of Man has issued a Prior Information Notice to give interested parties the chance to comment. This can be found at www.gov.im/procurement If the proposal proves viable and is to be progressed, Digital Isle of Man will commence a full tender process in due course. Standard Bank has pledged to donate a further £5,000 for the emergency appeal by matching funds raised by staff members who organise their own fundraising activities for the cause. Chris Till, CEO of Standard Bank Isle of Man, said: “Once the stories and images of the devastation on the coast of Mozambique began to emerge, it was truly harrowing. It has left communities homeless, unsafe, without food, emergency healthcare and other essential services. “As an organisation with its roots in Africa, we wanted to contribute to the emergency appeal. The amount of post-disaster reconstruction and recovery that needs to be done is vast and hopefully our continued contribution will support those affected as they rebuild their lives.” OPTIMISTIC OUTLOOK FOR ISLE OF MAN ECONOMY The latest Business Confidence Survey from the Economic Affairs Division of the Cabinet Offi ce, continues to show a confident business sentiment despite global economic risks. The Isle of Man Business Confidence Survey invited feedback from local employers to gauge business activity, future employment and investment for all sectors of the economy: Manufacturing, Services, Retail and Wholesale, Construction and Finance. The results from the April 2019 survey indicated that Construction business over the traditionally subdued winter period has been strong and much improved. Indicated employment growth over the next six months is the largest this sector has reported since the survey began, with most of this expected to be full time. All sectors report a generally optimistic outlook, although uncertainty around Brexit means some businesses are cautious in making investment decisions, with Retail and Wholesale businesses being particularly impacted. Minister for Enterprise, Laurence Skelly MHK, said: ‘It’s encouraging to see Construction looking forward with confidence, and anticipating growth and new jobs. Large public sector schemes are taking place along with private developments, which have helped give the sector a real boost over the winter months. He added: ‘It’s worth noting that the latest report has been compiled in a challenging economic climate due to Brexit risks and this will have an effect on our outlook locally.’ The survey also indicated further improvements in satisfaction with the work permit system, and found that 75% of employers currently feel that it is easy to do business in the Isle of Man. There was also a strong improvement in satisfaction with Government’s support for innovation and technology, which follows increased activity in this sector. The Isle of Man Business Confidence Survey report is published on the Economic Affairs Division section of the Government website. The Department for Enterprise offers a range of support and financial assistance for businesses at all stages of growth. Visit the website to find out more. | 5