With "Securing Grand Bahama Through Planning, Partnership & Productivity" as its theme, the 17th Annual Grand Bahama Business Outlook (GBBO) is on target for Thursday, March 5, 2015 at Grand Lucayan Bahamas resort in Freeport, Grand Bahama.
Prime Minister Perry Christie has agreed to present the keynote address of an agenda that is likely to attract many residents and others who are deeply concerned about the island's future.
Minister for Grand Bahama Dr. Michael Darville is expected to deliver the welcome and the national anthem and opening prayer will be performed by the Grand Bahama Youth Choir.
In announcing the forum, Joan Albury, president of TCL Group, founder and chief organizer of TCL's seven-island Business Outlook series, said that it was taking place at a particularly critical moment in the history of Grand Bahama. She also said that it has been challenging to secure funding to mount GBBO, so TCL is particularly grateful for those sponsors who have come on board.
"Our sponsors this year are to be lauded for their support in these challenging times. We are particularly grateful for this necessary assistance as there are critical issues facing Grand Bahama in this year that must be aired in an expert and fair forum.
"At the top of the list is the possibility of a game-changing revision of the Hawksbill Creek Agreement (HCA). Given our long and mutually beneficial relationship with the island, we thought it a duty to set a fearless agenda reflecting HCA, investment and business development in Grand Bahama and the proposed National Development Plan as highlights. Forum attendees may be assured that we have invited presenters who can speak with authority on such matters.
"In this regard, we are most grateful to have secured the participation of Prime Minister Perry Christie as keynoter to reveal government's perspective on overall economic development. Who better to do so than the government leader?
"It is essential also to have the tourism perspective and the all-round view that the Grand Bahama Chamber of Commerce can supply, so we're glad to have on the GBBO program David. L. Johnson, CEO of Bahamas Tourism Development Corporation, who will speak to a wide scope of issues under the topic 'Tourism development post-U.S.Cuban embargo, new investment and Employment'. We look forward also to the contribution from the President of the Grand Bahama Chamber of Commerce Kevin Seymour."
Noting that the fate of HCA is perhaps the biggest issue confronting Grand Bahamian business currently, Mrs. Albury revealed that attorney at law Carey Leonard of Callenders & Co. will present "Hawksbill Agreement 2015: Where do we go?"outlining the fundamentals of the situation and exploring options and potential outcomes.
Mrs. Albury commented:
"The 2015 GBB0 is coming at a time when many Grand Bahamians and thoughtful Bahamians generally are deeply concerned about the fate of the 99-year Hawksbill Creek Agreement between the government and the Grand Bahama Port Authority. The establishment of HCA in 1955 and the generous tax concessions it incorporated brought mega investment to Grand Bahama. HCA propelled the development of Freeport, which became the nation's second city by reason of its phenomenal growth in the 1960s and early 1970s.
Some of the most advantageous benefits of HCA expired in 1990, but the government gave an extension to 2015 of freedom from a number of government levies, including real property tax, personal property tax, capital gains taxes, taxes on shares and earnings. Many fear that a negative change in the status of such exemptions will deal a death blow to quality of the economy and life on our northernmost island. These are not unreasonable concerns in light of the fact that the Grand Bahama economy has been lagging for several years. With the lingering impact of the global recession, unemployment has grown unacceptably high."
TCL's president expressed pleasure that Matthew Fesbach, CEO, Okyanos will be among the presenters on March 5.
"With an investment of $10 million, the Okyanos Institute for stem cell treatment of chronic diseases, particularly heart problems, represents one of the largest investments in Grand Bahama of late. Given the fact that its patients are coming from countries across the globe, Okyanos may be indicating that medical tourism is in the cards for any sustainable economic development in that island. So, we are looking forward to hearing from Mr. Feshbach, who has also consented to appear on Bahamas at Sunrise, our morning television show," Mrs. Albury said.
Dr. Rodney Smith, president of The College of The Bahamas, is also slated to present. Mrs. Albury opined that the northern campus of the national tertiary institution can play a vital role in improving the economic climate of Grand Bahama, so it is important to know what plans college leadership has for its further development and community contribution.
"At present, nothing that we can discuss could possibly be more important to Grand Bahama and the entire Bahamas than improvements in education and the success of the proposed national development plan (NDP) that is now under construction. I'm pleased to say that we have secured the participation of the project leaders and planning experts. We are expecting them to share with us how far they have progressed and what particular attention is being paid to Grand Bahama and the rest of the archipelago, especially those islands that have generally received less of the limelight.
"Slated to present are Felix Stubbs, chair of the Steering Committee; Nicola Virgill-Rolle, Ph.D., director of Financial Services for Ministry of Financial Services and Samantha L Rolle, project officer for the Government of The Bahamas, Office of the Prime Minister. They will be preceded by Paul Major, president, Brickell Management Group Ltd and chairman of the National Festival Commission, who will speak to 'The Economic Benefits of Carnival'. Most will agree that this has been a hot-button topic in the media of late," Mrs. Albury said.
Closing out the 17th Annual Grand Bahama Business Outlook will be a panel discussion entitled 'National Development Plan'. For further information/registration, interested persons may contact Margaret Albury at (242) 322-1000 or malbury@tclbahamas.com, Mercynth Ferguson at the Grand Bahama Chamber of Commerce at (242) 352-8329 or mferguson-gbcc@live.com and/or Hazel McKinney at Deloitte at (242) 350-6100 or hmckinney@deloitte.com. Registration may also be made online at: www.tclevents.com.
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