NASSAU, BAHAMAS – East Grand Bahama MP and Opposition Shadow Finance Minister Kwasi Thompson yesterday urged the government to take more proactive measures to ensure that Grand Bahamians truly benefit from the much-touted $2 billion in investments slated for the island.
Thompson argued that the two major investments, accounting for over $1 billion, were approved and negotiated by the Free National Movement (FNM).
"Carnival's Celebration Key was approved, and the FNM negotiated and signed the Heads of Agreement. The Grand Bahama Shipyard expansion was also approved by the FNM. We are extremely pleased with the progress of these investments, which we believe will bring opportunities for Bahamians," said Thompson.
"Other investments such as West Atlantic Medical School, Discovery Bay, Six Senses Grand Bahama, Freeport Harbour Cruise Port Development, and the Grand Bahama Airport Development were all initiated or approved by the FNM. We remain proud of the efforts undertaken by the then-FNM government in attracting quality investments that are finally manifesting in the post-pandemic environment. However, it is not just about the promises of billions in investment; what truly matters is tangible progress that can be felt by Bahamians."
Thompson urged the government to eliminate all obstacles to ensure swift progress of investments from approvals to groundbreaking. He proposed implementing a paid training program for skills required in Grand Bahama Island (GBI) in collaboration with potential investors.
Additionally, he suggested encouraging the Grand Bahama Port Authority to streamline the process for micro-business licenses, eliminating the need for physical spaces with a nominal fee of $100. Thompson also called for further liberalization of vendor/peddler permits by working closely with the GBPA to allow a broader range of businesses to capitalize on new developments.
He also emphasized the need for collaboration between the government, Small Business Development Center (SBDC), GBPA, and industry to centralize maritime training and business development on the island and capitalize on new maritime ventures.
Furthermore, Thompson urged the government to allocate funding and support to the University of The Bahamas Northern Campus (UB North) to catalyze the development and attraction of technology incubators, labs, research facilities, and both startup and established technology and logistics companies.
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