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(a) It is declared to be the policy of this chapter: (1) to establish, so far as practicable and as rapidly as possible, minimum wage and maximum hour standards, and labor conditions at levels consistent with the health, efficiency, and general well-being of workers in the different occupations, without substantially curtailing employment or earning power; (2) to increase employment opportunities; and (3) to promote regular employment of workers thereby promoting their economic welfare, enhancing their ability to support their families, and strengthening the economy of the Virgin Islands.\n(b) It is further declared to be the policy of this chapter to promote the progressive development of industries and businesses which operate in the Virgin Islands by endeavoring to establish conditions favorable to their economic stability and natural expansion.