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Remarks by Prime Minister Minnis at the Bahamas Blockchain and Cryptocurrency Conference in Grand Bahama

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#GrandBahama, June 21, 2018 – Bahamas

 

Remarks

Dr. Hon. Hubert A. Minnis, MP

Prime Minister

 of the Commonwealth of The Bahamas

Bahamas Blockchain BBCC 2018

Cryptocurrency Conference

Wednesday, June 20, 2018

Grand Lucayan Hotel

Freeport, Grand Bahama

9:00 A.M.

 

 

  • Senator the Hon. James Kwasi Thompson and other Cabinet Ministers
  • International and local conference participants
  • Distinguished ladies and gentlemen,

 

Today it is my privilege to be in our nation’s second city of Grand Bahama, for the official opening of the Bahamas Blockchain and Cryptocurrency Conference.  This represents an important step towards my government’s new vision for the Bahamas, and a progressive step for the island of Grand Bahama.

Our Government recognizes that in order for our economy to continue to grow we must diversify, and create other opportunities for Bahamians to be successful.

I firmly believe in growing a diverse technology industry sector in the Bahamas, where entrepreneurs, can start and grow new technology companies.  We must also welcome existing global technology players to move their operations to The Bahamas, both of which, will have a meaningful impact on our economy and can be achieved in a relatively short period of time.

Ladies and Gentlemen,

Companies that utilize blockchain technology as a basis for their new products and services represent the genesis of a new wave of solutions that we believe will change the world as we know it.  There is no reason why these new blockchain technology companies that have their eyes on global markets, cannot have their base of operations here in The Bahamas.

We are a sovereign jurisdiction that has been a stable parliamentary democracy for over 250 years.  We believe in the rule of law, and are only 68 miles from the United States.

Ladies and Gentlemen,

My Government is committed to establishing the proper regulatory framework to ensure that incorporating, funding, and operating technology companies that have global ambitions is a relatively easy process.  Significant progress has already been made with the passing of our Commercial Enterprise Act and our ongoing Ease of Doing Business changes and amendments.

Here in the Bahamas, we fully understand that establishing and growing a technology industry sector is not easy, however, the Bahamas is uniquely positioned to quickly become the jurisdiction of choice for technology companies, particularly blockchain technology companies, and FinTech solution providers.

Other software and technology companies inclusive of biotechnology, artificial intelligence, and advanced manufacturing operations can make the Bahamas their home as well, forming clusters that would only serve to diversify and strengthen our technology sector.

We understand that in order to build a thriving technology sector that will benefit our country’s economy in a meaningful way, several key components must be in place, these include:

(i) policies that encourage innovation,
(ii) an educated and motivated workforce with access to higher education and professional development resources,

(iii) a flexible immigration policy

(Iv) and locations and infrastructure that can support population growth, and provide broadband access and telecommunications services that are on par with the rest of the world.

Additionally, in The Bahamas we can provide a quality of work-life balance that is second to none given our ability to offer sun, sand, sea, and cultural experiences that are uniquely Bahamian.

We are well positioned to become the new Silicon Capital of the Caribbean.  Grand Bahama was designed, and has the infrastructure to support 250 thousand residents.  Today it has a population of just over 40 thousand residents.

Broadband connectivity is of the highest quality within the Bahamas, with gigabit networks becoming the norm for both commercial and residential usage.  Grand Bahama is the ideal location in The Bahamas that can support the establishment and growth of a technology cluster of blockchain, and other software companies that can jumpstart the technology industry in The Bahamas.

Recently, my Government announced plans to provide free tuition at the Bahamas Vocational and Technical Institute, which provides degree programs in Information Technology Management, and free tuition at the University of the Bahamas commencing 2019, which also provides various degree programs in Technology.

The Bahamas also has a significant number of financial services, and wealth management firms that can provide investment and advisory services.

Here in The Bahamas, we have all of the available resources, and expertise, to work with both international, and local entrepreneurs, and investors, to build a robust technology sector.

We are pleased that many distinguished international and local professionals in blockchain and cryptocurrency have come to this place at this time to help us tell the world that The Bahamas is taking a deliberate step in building its technology industry sector.

I would also like to welcome the many Bahamians who have joined us with the desire to be the pioneers in this new industry, recognizing that technology will allow us the opportunity to become global players in an industry that is poised for growth.

I do not think it would be too far-fetched for me to say that the next generation of Bahamian millionaires, and possibly billionaires, could earn their wealth in the technology sector.

What we do here at this conference is the first step in that journey: a journey that we cannot accomplish alone, which is why our international friends and partners must play an integral, and important role in all of this.

We welcome you all here to The Bahamas, and look forward to learning from you, investing with you, and laying the foundation to build a technology industry that will benefit all who are a part of it.

Thank you and good morning.

 

Photo Caption: Prime Minister, Dr. the Hon. Hubert Minnis was keynote speaker at the opening of the Bahamas Blockchain and Cryptocurrency Conference at the Grand Lucayan, June 20, 2018.

(BIS Photo/Lisa Davis)

 

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Royal Caribbean to open Royal Beach Club on Paradise Island in 2025

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FOR IMMEDIATE RELEASE

April 24, 2024

By LINDSAY THOMPSON

Bahamas Information Services

NASSAU, The Bahamas – The Government entered into a Heads of Agreement with Royal Caribbean International, followed by a Ground Breaking Ceremony for the construction of Royal Beach Club on Paradise Island, at an estimated $165 million.

The agreement was signed on Monday, April 22, 2024 during a press conference at the Office of the Prime Minister.

According to Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon. Chester Cooper, the project will further enhance the tourism product, on the heels of an estimated 9 million visitor arrivals.

He deemed it “an eventful day” with a reliable partner in RCI of more than 50 years with The Bahamas, and the continued confidence that investors have in the tourism product and economy.

He said it is a partnership with “excellence experiences” as he delighted in the fact that there will be more for the 25,000 cruise ship guests in port.

Also on hand for the activities to seal the agreement were Prime Minister and Minister of Finance the Hon. Philip Davis; Minister of Health and Wellness, the Hon. Dr. Michael Darville; Minister of Energy and Transport, the Hon. JoBeth Coleby-Davis; Attorney General and Minister of Legal Affairs, Senator the Hon. Ryan Pinder; Director of Investments Phylicia Woods-Hanna; executives of Royal Caribbean International and Royal Caribbean Group, and other officials.

“With the signing of this Heads of Agreement for the development of the Royal Beach Club on Paradise Island, we embark on a $165 million project to further enhance the vitality of our tourism product,” the prime minister said.

Spearheaded by RBC Paradise Island Ltd. and PDI Paradise Ltd., subsidiaries of Royal Caribbean Cruises Ltd., the project will galvanize entertainment and recreational offerings for Bahamians and visitors alike.

The master plan for the Royal Beach Club includes pools, cabanas, and Bahamian boutiques, offering an unparalleled on-shore experience for visitors.

“This development will prove to be a monumental step forward for Bahamian inclusion in major tourism projects that will serve as a model for others to emulate,” the prime minister said.

The prime minister then underscored the importance of what the project would mean for Bahamians in the broader scope of things.

An estimated 200 jobs will be created for Bahamians. However, an opportunity is being provided for shared ownership in this development.

It is anticipated that PDI Paradise Ltd. will hold at least 51% of the shares in the Royal Beach Club, with the remaining 49 % shares being allocated to the National Investment Fund for the benefit of Bahamians.

“Through this partnership, we will provide new employment and economic opportunities for this nation. Local businesses will see their share of opportunities as well. There will be Bahamian boutiques creating avenues for small business ownership,” the prime minister said.

The project will also encompass a joint venture with a Bahamian-owned entity for the operation of a water taxi business; it will provide transportation options for guests of the Royal Beach Club, as well as other attractions in Nassau Harbour – enhancing accessibility while creating additional avenues for economic growth within the community.

“Ultimately, this project will largely be run by Bahamians, owned by the Bahamian people, and supported by Bahamian businesses.

“When we talk about the need to ensure that major tourism projects are primarily for the benefit of the Bahamian people, these are the kinds of opportunities that we are talking about,” the prime minister said.

He observed that the Royal Beach Club represents the latest successful chapter in the story of Paradise Island’s growth as a tourism mecca. Initial negotiations for the project began under the previous administration. Royal Club Beach is expected to open in 2025.

“By signing today’s agreement, we add another world-class experience to our tourism offerings. And even more importantly, we take a bold step toward greater Bahamian empowerment in the tourism industry. This is our nation, and we must ensure that, first and foremost, our service industries serve us,” the prime minister said.

He concluded, “We are more optimistic than ever before about our economic prospects with tourism leading the way as our number one industry that continues to grow at a record-breaking pace.

At the ground breaking site just west of the Atlantis Resort, officials tilled the soil, marking the beginning of the construction process.

Jason Liberty, president, and CEO of Royal Caribbean Group said that events regarding the agreement “symbolize partnership, momentum, and continued economic development for so many Bahamian entrepreneurs and the entire community.

“We are grateful to our partners for their support, especially the Bahamian government, who stand with us here today in celebration of what is to come.”

 

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Sister Province/Island Relationship Agreement Signed between Grand Bahama Island and Hunan Province

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By LLONELLA GILBERT
Bahamas Information Services


NASSAU, The Bahamas — A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province.

The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024.  The Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama represented The Bahamas at the signing.

His Excellency Mao Weiming, Governor of Hunan Provincial People’s Government; Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; and Yang Peiran, Interpreter represented the People’s Republic of China.

Minister Moxey explained that in February 2022, she and the former Chinese Ambassador to The Bahamas, Her Excellency Dai Qingli began discussion on the establishment of a province-island relationship between Hunan Province and Grand Bahama Island because of their “immense synergy”.

“Hunan has a vibrant creative industry and its capital city, Changsha is known as the entertainment capital of China, whilst Grand Bahama is poised to become the home of entertainment in ‘Our Bluepoint for Change’.”

She said Hunan Province boasts 11 industrial sectors and Grand Bahama is the industrial capital of The Bahamas.  Further, innovation driven development has been a new driving force for Hunan, while Grand Bahama is poised to become the home of innovation for The Bahamas.

Minister Moxey said she is confident that an exchange of knowledge, ideas and culture will happen between the residents of Hunan Province and Grand Bahama.

“There is potential for robust trade in various sectors, opportunities for tourism promotion and intercultural appreciation, exchanges to support performing arts programs on our island, foster growth within the Orange Economy, and tap into China’s innovation, technology and vast expertise.”

She said that the formal signing aligns with the mission of Sister Cities International, which is to promote peace through mutual respect, understanding and cooperation, one community at a time.

The Minister said, “Through collaborative programs and initiatives, this connection will support the government’s vision to diversity Grand Bahama’s economy to become the Home of Maritime and Logistics, Home of Events and Entertainment and Home of Innovation.”

She noted that in addition to signing the agreement, she looks forward to Grand Bahama residents benefitting from the signing of the Cooperation Memorandum of Understanding between Central South University and University of The Bahamas (UB), which will expand educational and technical cooperation between the two universities.  The northern campus of UB is located in Grand Bahama.

His Excellency Mao Weiming said although geographically far apart, China and The Bahamas are friends with mutual respect and understanding as well as sincerity.

He explained that 27 years ago, both countries established diplomatic relations and China and The Bahamas have deepened their cooperation, strengthened their friendship and carried out many activities in the field of economy, trade and people-to-people exchange.

His Excellency recalled that in August 2022, he and Prime Minister and the Minister of Finance the Hon. Philip Davis had a video conference where they both reached a consensus to cooperate in order to usher a new chapter in the relationship between Hunan and The Bahamas.

“Today, we are here to sign a sister-to-sister relationship between Hunan and Grand Bahama.  It is [a] concrete move to implement our consensus reached before and also to embark on a new journey of friendly exchanges.”

He added, “By establishing the relationship of sister cities, I believe the two sides will develop further in terms of economic and trade cooperation, people to people exchange, as well as friendship, and we will embrace new opportunities and deliver concrete benefits for the two peoples.”

He explained that Hunan, which is the home town of Chairman Mao, the founder of the People’s Republic of China, has developed very advanced industries of manufacturing, agriculture, education, culture as well as tourism.

His Excellency said he believes that Hunan and Grand Bahama enjoy very broad room for cooperation.

He said, “More efforts should be made to conduct cooperation in the fields of agriculture, tourism, culture, education and the film industry so as to realize a connectivity between our two sides in terms of logistics and the platform cooperation; so as to deliver concrete benefits for the people and to make our due contribution to the bilateral relationship between China and The Bahamas.”

 

PHOTO CAPTION

A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province.  The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024.  Shown from left: Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; Yang Peiran, Interpreter H.E. Mao Weiming, Governor of Hunan Provincial People’s Government; the Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama.

(BIS Photos/Anthon Thompson)

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Nassau Cruise Port Donates Nearly $2 Million Towards Food Security  

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Nassau, Bahamas: The Nassau Cruise Port has donated $1.95 million towards projects that will assist the Ministry of Agriculture and Marine Resources in its aim to increase food security for The Bahamas.

The donation officially occurred at the Ministry’s offices recently, where Minister of Agriculture and Marine Resources Hon. Jomo Campbell, Minister of Labour Hon. Pia Glover-Rolle, Permanent Secretary Neil Campbell and Nassau Cruise Port CEO Mike Maura listened to a number of presentations including one for a poultry programme for schools, a chicken broiler production programme, the redevelopment of the Blue Hill Road Farmers Market and an Authentic Bahamian Cultural Concept Store,

Mr. Maura said he was impressed by the presentations.

“I had the privilege to listen to the presentations  and review presentations that touched on food security and the need for us to be self-sufficient, which as a Bahamian I support completely. At the Nassau Cruise Port, we get excited about the prospects of offering more authentic food to the millions of visitors that we have each year,” he said.

“And then, in addition to that, we had presentations around the further development of our artisans, which is so important to us as well.  The guests visiting our shores are looking for something that really touches The Bahamas and can’t be found somewhere else. The Nassau Cruise Port has made a pledge to BAIC and its affiliates. We will be supporting the projects that were presented and we can’t wait to get started.”

Minister Glover-Rolle, who is also the Member of Parliament for Golden Gates, hailed Nassau Cruise Port as a “great community partner.”

“Thank you for the opportunity to not only present but agreeing to participate. Our Minister of Agriculture has a goal of reducing food imports by 25 percent by the year 2025 and our project in the Golden Gates Community speaks to that,” she said.

“We have a number of backyard farmers, farmers and fishers in our community in Golden Gates. Being able to use the Blue Hill Road Farmers Market, which is going to be dubbed the ‘Fish Fry of the South,’ as a hub for food security but also a hub where artisans and handicraft persons can come and sell their wares is wonderful. So, we are happy that you have agreed to partner with us and we look forward to a partnership and we hope to welcome some of your visitors when this amazing renovation is done.”

Minister Campbell also lauded the Nassau Cruise Port for its efforts.

“I would like to say thank you to the presenters for the presentations that are several steps in the right direction for our country, to Mr. Maura and his board at the Nassau Cruise Port and I would like to say thanks to God for this partnership and bringing us all together as we move forward, upward, together in building a better, brighter, future for The Bahamas,” he said.

 

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