Members of the United Kingdom (UK) Business Mission delegation traveled to Grand Bahama last Wednesday to network with representatives of the island's business sector.
Managing Director of The Caribbean Council Chris Bennett led the delegation of individuals from a range of UK companies, including Manchester Airport Holding, one of the companies involved in developing the new airport; the law firms of Hogan Lovells and Charles Russell Speechlys; the energy technology company Aggreko; construction sector companies JCB, Kestrel and Reidsteel, the Nectar Group bulk commodity handling, Mott MacDonald engineering, and the US-based Ocean Crest Alliance, which operates a marine research and adventure property on Long Island.
"This is really an opportunity for us to meet with businesses here in a program that we've coordinated with the Grand Bahama Chamber of Commerce (GBCC) and the Grand Bahama Port Authority (GBPA)," said Bennett, during the early morning breakfast meeting with a cross-section of business owners at the Pelican Bay Hotel.
"We're a private sector organization and private sector delegation from various British companies representing all sorts of different sectors, mostly involved in energy infrastructure, but also in other things like airport management."
He said the intent of the trip was to identify companies they can partner with.
"Find out what they need and single out the best opportunities where we can partner with them in investment partnerships," Bennett said.
The Caribbean Council is a London-based membership organization working to build beneficial relationships and two-way trade and investment between international companies and their Caribbean and Central American partners.
Bennett noted that all projects need capital and said that since 2000, the Council has been connecting quality businesses in the Caribbean and Central America.
"With the UK being a country with a wealthy population and having access to capital flow from all over the world, we are able to leverage that experience and capital flow to bring them to bare to grow new projects and bring new ideas, and hopefully new employment opportunities for Grand Bahamians," he said.
During the delegation's meetings in New Providence, Bennett said he had the chance to speak with Minister for Grand Bahama Ginger Moxey.
"We were really excited to hear about the programs and expansions happening here in Grand Bahama. Now we will see for ourselves some of the progress and developments that are already underway," he said.
Manchester Airport Group (MAG) is a part of the consortium made up of Aerodrome Limited, a Bahamian company and the London-based BHM Construction International that the government entered into an agreement with for the development of Grand Bahama International Airport.
MAG Director Andrew "Andy" Tyler-Smith said the company is anxious to accelerate the project and a meeting was scheduled for the following day with government officials in Nassau.
"We just really need to get this airport up and running. I just need someone to release me and let me get going," he said.
Asked what is delaying the project, Smith said, "I think there has been some misunderstandings about the offering on both sides, but I hope to resolve that in the meeting."
Following the breakfast meeting, the visiting British group participated in one-on-one sessions with local company representatives before touring Freeport Container Port, Grand Bahama Shipyard, Freeport Harbour and Grand Bahama Power Plant.
"Grand Bahama is the most unique destination in the region and an extraordinary place for investment," GBPA President Ian Rolle told the British delegation.
"The GBPA is pro-business and is your one-stop shop for facilitating investments for any sector within the city of Freeport. We have the land, we have the infrastructure and most importantly, our value proposition is second to none.
"We will support your investment process through our concierge service arm called 'Invest Grand Bahama,' to ensure that you receive the most efficient experience."
Rolle said the GBPA's goal is to make doing business in Freeport as smooth as possible.
"We invite you to explore all that Freeport has to offer, and as you listen to our presentation imagine your place within this new economic landscape that is taking form," he said.
"I encourage you to consider investing in our thriving community."
GBPA's Chief Investment officer Derek Newbold shared with attendees the numerous economic opportunities the city offers, emphasizing strategic location, robust infrastructure, and a welcoming business environment that encourages growth and prosperity.
"Our plans for the city include more than $1.5 billion of new investment for the island, which are well underway," Newbold said.
His presentation highlighted locations and updates on current and future approved investments, including Carnival Cruise Port, Six Senses Resort development by the Weller Group, Steininger Island development, and the expansion of the Grand Bahama Shipyard and Freeport Harbour by Royal Caribbean, ITM and MSC.
"There is also the Lucayas Solar Power project, Xquisite Yachts Catamaran Center, EY (Ernst and Young) International office plus other major projects," Newbold noted.
He said Grand Bahama's accessibility to global markets through well-connected transportation networks and international partnerships makes it ideal for investors.
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