NASSAU, BAHAMAS — The Bahamas Chamber of Commerce (BCCEC) is expressing concern over what it says is the "lack of substantial support" for the business community, as the government on Wednesday outlined its new legislative agenda in the Speech from the Throne.

BCCEC chairperson Khrystle Rutherford-Ferguson, in a statement said that while the organisation appreciates the government's effort in presenting its new legislative agenda during the opening of Parliament, it is concerned over the lack of specific ideas for the business community.

Bahamas Chamber of Commerce and Employers' Confederation (BCCEC) Chairperson Khrystle Rutherford-Ferguson.

"Collectively, the private sector employs the majority of the Bahamian workforce and, as a result, is an important constituent in the economic health of our country. We acknowledge mention of impending reforms to the Registrar General's office to improve the ease of doing business and the indication of reforms to Intellectual Property Legislation to protect the creative industry," Rutherford-Ferguson noted.

She added that, regrettably, the Government did not address other matters such as improving digitization across government agencies, plans to reform our business tax system, a national framework for public-private partnerships and the establishment of a public-private partnership unit.

Also unaddressed, according to Rutherford-Ferguson, were business-related incentives to establish and/or grow industries, financial support to businesses negatively impacted by government-imposed challenges like roadworks, remediation for public infrastructural strain such as flooding and a climate resiliency business support scheme.

"The cost of energy and unreliability thereof is crippling to many businesses; therefore, we are keen to see what plans will emerge from the Ministry of Energy to alleviate this burden. We trust that the Speech from The Throne did not communicate an exhaustive list of the Government's legislative agenda and priorities," Rutherford-Ferguson said. 

She further noted that the BCCEC hopes that its concerns will be addressed.

"A commitment in this regard will signal a pledge to strengthen the business community by creating a positive, business-friendly environment enabling private sector growth. Collaboration between the public and private sectors is vital for overcoming challenges and building a prosperous future for all," she concluded.

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