  VI$_{3}$ is a ferromagnet with planar honeycomb sheets of bonded V$^{3+}$
ions held together by van der Waals forces. We apply neutron spectroscopy to
measure the two dimensional ($J/J_{c} \approx 17$) magnetic excitations in the
ferromagnetic phase, finding two energetically gapped ($\Delta \approx k_{B}
T_{c} \approx$ 55 K) and dispersive excitations. We apply a multi-level spin
wave formalism to describe the spectra in terms of two coexisting domains
hosting differing V$^{3+}$ orbital ground states built from contrasting
distorted octahedral environments. This analysis fits a common nearest neighbor
in-plane exchange coupling ($J$=-8.6 $\pm$ 0.3 meV) between V$^{3+}$ sites. The
distorted local crystalline electric field combined with spin-orbit coupling
provides the needed magnetic anisotropy for spatially long-ranged
two-dimensional ferromagnetism in VI$_{3}$.
