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OFT to Roll Out New Initiatives
Last week members of the GFSB Board of Directors had a highly productive meeting with John Paul Fa, the CEO of Business and the Office of Fair Trading (OFT). This is the second meeting with Mr. Fa since his appointment, and it marked a significant step forward in our collaboration with the OFT, a key entity in the Government of Gibraltar’s new Strategy for Business which we recently shared in our newsletter. The discussions were positive and highlight a closer working relationship between the GFSB and the OFT, which we believe will benefit our members.
The OFT is currently planning on rolling out several initiatives that may impact some of our members. Our meeting provided a valuable opportunity to understand these initiatives and discuss their potential effects on the business community in Gibraltar as well as discuss enhancements where appropriate. Below, we outline the key plans discussed and potential implications.
1. Information Campaign for Cross-Border Businesses
One of the major initiatives is an information campaign aimed at educating cross-border businesses so that they are aware of the different licences that they are required to have in place to operate in Gibraltar. This campaign is expected to be followed by an enforcement phase to ensure compliance. The objective is to create a fair and level playing field for all businesses operating in Gibraltar.
2. Review of On-Street Product Display and Advertising
The OFT is also conducting a review of on-street product display and advertising practices by retail and food & beverage (F&B) businesses. The objective is to ensure public spaces are used effectively and aesthetically. This review will lead to changes in how businesses are currently displaying products and advertising on the streets. Members in the retail and F&B sectors should be prepared for possible adjustments to their display and advertising strategies.
3. Review of Private Member Clubs and Associations
Another area under review is the practice of private member clubs and associations selling food and beverages through catering licences to non-members. The OFT aims to ensure that these activities comply with the new Fair Trading Act and are fair to all businesses. This may result in changes to how some private clubs operate their F&B services. Members who manage or are involved with private member clubs and associations should stay informed about potential regulatory updates. The OFT may have already been in touch with you.
We’d like to know what members think about these initiatives – please get in touch gfsb@gfsb.gi
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