Incorporating in USVI

I am spending some time on Tortolla, BVI, and I've just found out that there are 600,000 companies incorporated in BVI. For a small nominal annual fee (about $1000 a year), a company registered in BVI is exempt from all taxes (including income, dividends, capital gains), is exempt from any regulation (such as filing statements, audits, public records, etc.), and does not have to hire in BVI.

Now, I know that USVI government provides some incentives to companies operating in USVI, including reduction in taxes. But there are some serious restrictions, too, which as I understand, make businesses reluctant to operate under the existing conditions/restrictions which accompany the incentives.

My question is, can the USVI government, in theory, with the legislative/executive power of the territorial government, do the same thing as BVI government, with respect to "offshore incorporation/registration"?