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BAHAMAS: PM’s Remarks at Austin Technology Council/Texas Association of Business

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#UnitedStates, January 24, 2018 – Austin, TX – Distinguished ladies and gentlemen, Good morning, I am delighted to be here with you this morning The Bahamas, like Canada and Mexico, is among the closest geographic neighbors of the United States.  To offer you some geographical perspective, the Bahamas’ archipelago extends southwest from Southern Florida in the United States to northern Cuba.

Our far-flung archipelago, with approximately 21 major islands and many hundreds of cays and islands, extends from north to south, approximately the same geographic length from the northern to the southern end of Britain.  To put it another way, The Bahamas extends from north to south, the same distance as from Puerto Rico to Trinidad and Tobago off the coast of South America.

We are just 50 miles off the coast of Florida, less than half hour’s journey by air from our capital, Nassau.  This proximity is partly responsible for the longstanding good neighbour relationship which exists between our two countries.  There are long and well-established ties between The Bahamas and the United States.  The Bahamas is among the oldest parliamentary democracies in the Western Hemisphere.   We have a stable government, a well-established and respected legal system with The Privy Council in London as the highest court of last resort.

Our English-speaking population of nearly 400,000 people is proud, patriotic and peaceful.  Our economy has historically been based on tourism and while tourism will always be the main driver of our economy, we also appreciate the need for economic diversification.  With this in mind, late last year we passed legislation known as the Commercial Enterprises Act.

The intent of this Act is to offer incentives to investors who establish businesses in The Bahamas that would help us in our diversification drive while also creating higher paying jobs and long-term job security.  Under this legislation, investors in captive insurance, reinsurance, arbitration, wealth management, computer programming, maritime trade, nanotechnology, biomedical industries, data storage, call centers, software design and writing will be given a number of concessions and incentives if they were to locate in The Bahamas.

Ladies and Gentlemen: My government has embarked upon a major mission to establish The Bahamas, particularly Grand Bahama Island, as a world-renowned technology hub.  Grand Bahama is the second most populous island in The Bahamas, with excellent modern infrastructure.  The capital, Freeport, is in short flying distance from Florida, and enjoys US Immigration and Customs Pre-Clearance.

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This past November, through our first ever Grand Bahama Technology Summit, we started on the path to realize this goal.  We had the opportunity to host some of the finest minds in technology locally and from international tech giants. Grand Bahama is uniquely suited to become an internationally recognized Science, Technology and Innovation hub.  We invite you consider Grand Bahama as you plan your next start up or the expansion of your international enterprise.  Grand Bahama and The Bahamas possess modern and superior infrastructure, modern roads, constant and reliable electricity supply of North-American standards, fully digital telecommunications and high quality high-speed internet.

We also have a wide variety of public and private schools, both elementary and secondary, as well as the University of The Bahamas.  We realize that an integral component of the continued growth of our economy is by developing human capacity through education.  I am pleased that our schools and university are committed to maintaining modern and strong curriculum standards to prepare our people for a growing job market.

Bahamians are also among the most technologically savvy people in the Caribbean.  Our recent Technology Summit highlighted several Bahamians who are at the cutting edge of innovation and technology.

Ladies and Gentlemen: Grand Bahama has proven to be an attractive place for manufacturing cutting-edge technology.  Corporation has identified Grand Bahama as the ideal location to configure and assemble the Ocean Medallion concierge system.  This interactive technology is expected to change the cruise experience and we are proud to house its development center in the Grand Bahama.

The Bahamas is currently finalizing programs for blockchain-based solutions, fin-tech and crypto-currency companies and intend to promote blockchain as a sub-industry within ICT.  We are currently engaged in discussions on how we can fast-track work permits and ensure that companies who employ US and foreign talent can retain these employees in The Bahamas.  We remain open to tailor-making packages specific to a company’s needs, allowing them to retain their talent without increasing cost.

Legislation has been passed in our Commercial Enterprise Act which will streamline business applications and immigration processes in order to facilitate new technology businesses.

Freeport, Grand Bahamahas great promise as a digital center.  Our nation’s second city has superb communications infrastructure so you are always connected. Freeport has two major ISPs with independent terrestrial, subterranean, sub-sea and wireless networks.  The city also boasts diverse network paths, self-healing metro, inter-island and international networks.  Home connectivity in Freeport is measured up to 100 megabit per second, having providing business services via copper and fibre, with speeds exceeding 1 gigabit per second.

Freeport is one of the most unique areas of the entire Bahamas, being that it is managed by the Grand Bahama Port Authority, a private city management organization, in conjunction with the national government.  In the early development of the City of Freeport, The Grand Bahama Port Authority created the Hawksbill Creek Agreement, which established Freeport (The “Port Area”) as a free trade zone.

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Under the Hawksbill Creek Agreement, business owners enjoy the benefits of a tax neutral jurisdiction.  There is no capital gains, real property or corporate income tax.  Freeport is especially suited for development, as the pre-planned city has not yet nearly met its capacity.  Undeveloped, unpolluted land and buildings are just waiting to be utilized in the City of Freeport.

Additionally, Freeport houses the island’s highly reliable power company.  My government prioritizes maintaining close relations with our service providers.   I am pleased to say that Grand Power Company has expressed its preparedness to be flexible in rates particularly for new technology companies.  Additionally, The Freeport Container Port boasts the deepest container terminal in the region.  The 24-hour a day facility serves as a major transshipment hub between the US, Latin America, Europe.

Freeport proudly boasts advanced building codes – some of the strongest in the Western Hemisphere – and a communications infrastructure that has withstood major hurricanes. Data Centers established in Freeport have not been impacted in any hurricane season.  The Bahamas enjoys economic and monetary stability.  We have a skilled workforce at competitive rates.  We have world-class infrastructure.  We have a progressive immigration policy designed to attract talented professionals from across the globe.   The Bahamas offers modern educational and health facilities, a wealth of cultural events, and pristine beaches which all adds up to luxury living at its finest.

On behalf of the Government and the entire people of our great nation, I sincerely thank you for your time.   I look forward to future partnerships as we embark on this new beginning for The Bahamas.  It is not just Better in The Bahamas in terms of the visitor experience for tourists.  The Bahamas is also an excellent place for investment, and we continue to get even better.

Thank you and good morning.

 

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Career Symposium 2024 Connects University Students with Successful Professionals

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Nassau, THE BAHAMAS — Some of the most successful and accomplished professionals and business leaders in the country recently shared their experiences and nuggets of wisdom with students at University of The Bahamas (UB) about thriving in a wide range of careers.

The University Centre for Counselling and Career Services and the Career and Job Placement Advisory Unit collaborated to host the 2024 Career Symposium which brought students face to face with leaders in the careers to which they aspire.

Vice President of Academic Affairs, Dr. Maria Oriakhi, said the symposium was key to developing potential as university students strive to leave their mark on the world.

Ms. Rickell Curry

“In the spirit of collaboration and growth, let us engage in meaningful dialogue, cultivate relationships, and harness the power of collective wisdom to shape our futures,” said Dr. Oriakhi. “Together, let us embark on this journey of exploration and discovery, united in our commitment to realizing our fullest potential and making meaningful contributions to our communities and beyond.”

Promoting careers in psychology, Ms. Curry noted that psychologists are equipped with the ability to help others, troubleshoot areas of weakness within themselves, and become better people and professionals in the process.

“The floor is yours to be able to explore. There’s no job where you don’t have to deal with people, so learning, even if you get a bachelor’s in psychology, is a great grounding,” she said.

Dr. Darville, one of few interventional radiologists in The Bahamas, offered another nugget of advice on choosing an area of study.

Dr. Elizabeth Darville

“It is important to know enough about yourself in order to make the decisions you want to make,” said Dr. Darville. “You have to work on yourself first and know what you want to do. Radiology gives you a chance to have fun. It gives you a chance to mold your career closer to your personal life than other medical specialties might.”

Another growing field is project management which Mr. Hepburn called a life skill. He also urged a commitment to lifelong learning.

“Individuals that continue to learn become unstoppable, period,” said Mr. Hepburn. “It is so true. When you learn, you become unstoppable because nothing can stop you in your process of development.

Mr. Wellington Hepburn

“The more you know, the more valuable you are. We need individuals who are cross functional—that can operate in different capacities. So please understand that your learning should never stop.”

With small and medium-sized businesses helping to drive the economy at an incredible rate, Ms. Rolle affirmed the importance of entrepreneurship in any economy.

“When we talk about entrepreneurship, we usually look at it from a myopic standpoint,” she said. Ms. Rolle. “What do I mean by that? Small, but usually about self: ‘how do I make more money?’ And in some cases, some look at entrepreneurship as a way of survival. ‘I need to make a couple extra dollars, I have this bill to pay’. Those types of things.

Ms. Samantha Rolle

“But entrepreneurship really, in its truest form, is about innovation, whether it’s a new concept or any existing concept that you innovate new ways, or help expand the economy.”

The career symposium was held at the Harry C. Moore Library and Information Centre and is held every academic year.

 

PHOTO CAPTIONS

 

  • Career Symposium 1: UB Vice President of Academic Affairs, Dr. Maria Oriakhi, delivers the opening address at the 2024 Career Symposium.
  • Career Symposium 2: Students and guest speakers enjoy a lighthearted moment during the 2024 Career Symposium.
  • Career Symposium 3: Ms. Rickell Curry speaks to students during the 2024 Career Symposium.
  • Career Symposium 4: Dr. Elizabeth Darville delivers remarks during the 2024 Career Symposium.
  • Career Symposium 5: Mr. Wellington Hepburn educates students on the importance of project management during the 2024 Career Symposium.
  • Career Symposium 6: Ms. Samantha Rolle talks about the role and importance of entrepreneurs and entrepreneurship in any economy.

 

Office of University Relations

University of The Bahamas

2nd Floor, Michael H. Eldon Complex

Oakes Field Campus

P.O. Box N-4912

Nassau, The Bahamas

Tel: (242) 302-4355/4354/4365

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$36 Million Dollar Upgrade for World Athletics Relays in Nassau, Bahamas

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Rashaed Esson

Staff Writer 

 

#TheBahamas, April 15, 2024 – After years of thorough maintenance, The Thomas A Robinson National Stadium in The Bahamas is finally getting a multi-million dollar makeover, readying the 10-year old facility ahead of the World Athletics Relays on May  5, 2024; it is being staged in Nassau for the fourth time.

This $36 million refurbishment is being funded by the Chinese Government, as part of a vision to enhance the country’s sport infrastructure to benefit youths in athletics. The stadium was gifted to The Bahamas in 2012 by the Chinese.

The relay is the qualifying event for the 2024 Summer Olympic Games and there will be 32 national teams, in each relay event, and 20 races on both days of competition, according to World Athletics.

Day 1, will have 20 heats across the five Olympic-calibre events (4 heats each for 4×100, 4×400, men, women and mixed) and will qualify 40 teams for the Summer Olympics.

Distinctly, the top two teams from each heat will directly qualify for the 2024 Games.

On day 2, 30 more national teams will be qualified through 15 heats and five finals, across those five events.

The upgrades which include new trusses, rooftops, seats, the lawn, score boards, LED displays and more, are expected to be complete at least two weeks before the relays, being held under the theme: ‘Chase the  Sun’.

In a special ceremony on Monday April 8, The Bahamas Prime Minister, Philip Davis said:

In December 2023, our shared vision took shape, as the government of the Commonwealth of The Bahamas, and the government of the People’s Republic of China, inked an implementation agreement for the renovation of the stadium. This gesture of goodwill and friendship, from the Chinese government to undertake the China Aid Maintenance and Renovation project of our national stadium, stands as a testament to the strong bonds that unite our countries. This project, executed by China Urban Construction Research Institute Company Limited, and the China Machinery Industry Construction Group Company Limited, reflects our shared commitment to excellence, innovation and mutual development.”

Additionally, H.E Dai Qingli, outgoing Chinese Ambassador to The Bahamas who also attended that ceremony, spoke.

“At the end of the project, the Bahamian people will get a fully renewed and modern world class stadium because everything is going to be either renewed or repaired,” she said.

Some 1,600 athletes will be in The Bahamas for the World Athletics relays, with five events.  The Bahamas won the bid over Lausanne, Rome in 2022.

Mario Bowleg,  Minister of Youth, Sports and Culture in reports, thanked China for their contribution to the redevelopment of the stadium.

“We thank them for their commitment to ensuring that they bring this facility back up to A1 standard so that we can continue holding international events and using these facilities as a development of our young people.”

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Bahamas Government and Grand Bahama Port Authority in $360 MILLION squabble 

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#TheBahamas, April 15, 2024 – The Bahamas Government says the Grand Bahama Port Authority owes over $300 million, now causing a very public squabble between the two entities and  potential years long  arbitration proceedings.

The total owed according to the government is $357 million over the last five fiscal years, 2018-2022.

Seemingly down to business, the Davis Administration, according to reports,  sent a letter to the Port Authority at the start of the month, in which 30 days was given for them to pay up.

If the 30-day deadline isn’t met, Davis says the Government has the right to start arbitration proceedings.

A Grand Bahama attorney who criticized the government’s actions, also expressed that the tension could lead to up to five years of arbitration.

The letter, as reported by the Tribune, refers to clause 1(5)(c) of the Hawksbill Creek Agreement.

Regarding the tensions between the Port Authority and the Government, the financial conflict apparently rests on Davis’ accusation that the Port Authority failed to follow its obligations under the Hawksbill Creek Agreement.

“Unfortunately, the Port Authority has not been living up to its legal obligations to develop and grow the economy in Freeport. In many cases, the government has had to step in where the Port has failed. Let’s be clear about what this means: it means that the Bahamian people have been subsidizing the profits of these private shareholders! That is not right. You deserve flourishing, thriving communities. You deserve an inclusive economy that generates opportunity, dignity, and security. You deserve what is owed to you under the Hawksbill Creek Agreement,” Davis said.

In a clap back at the Government’s accusations, the Port Authority in reports are quoted declining the Government’s claim that they owe the “sum of $357 million.”

“We reject and will robustly defend against this claim, which we firmly believe will be defeated,” it stated.

Davis, who was speaking in a meeting on Saturday April 6, informed that before things got to this level, they were having meetings.

“We had many, many meetings and exchanges before we arrived at this point. But there were too many delays and too many dead ends. When only one side appears interested in advancement – and when the people of Freeport urgently need change and progress – then decisive action is the only choice,” he maintained.

The now peaked tension was sparked in June of 2023 when Davis stated that the Authority is failing to maintain Freeport’s infrastructure and encourage the growth of the city, as it claimed owed expenses, now said to be the hundreds of millions.

To this, in June 2023, the free quasi-governmental authority responded saying the sums stated by the government are “contested” and “it is yet to be satisfied,” claims reports say, are supported by credible evidence.

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