Bahamas News
BAHAMAS: PM says Government on Track for Easing Burdens of the Poor
#Nassau, January 18, 2019 – Bahamas – Prime Minister, Dr. the Most Hon. Hubert Minnis told stakeholders in the business and financial services sector that 2019 will see a more accountable and productive government and 
tangible relief for the poor. He was addressing the 28th Annual Bahamas Business Outlook 2019 on Thursday, January 17, at Baha Mar Convention Centre under the theme, ‘Transforming The Bahamas’.
“This powerful theme echoes the government’s agenda of transforming our Commonwealth into a more productive, competitive and prosperous participant in the regional and global economies. Our common purpose must be one of transformation for change,” the Prime Minister said.
Fresh from Brussels where he led a delegation to high-level meetings of the European Commission regarding the Bahamas’ financial services sector, the Prime Minister reported that those sessions were very constructive.
He said the meetings also “provided The Bahamas with a significant opportunity to ensure the Commission fully understands the scope of the efforts we are taking to adhere to global standards.
“This includes a package of recently passed legislation, and a new framework aimed at strengthening industry regulations and protecting the financial services competitive edge as a leading international financial center,” the Prime Minister said.
And, he assured that the government is doing everything it can, in cooperation with industry stakeholders, and in keeping with the country’s national interests, to protect this important industry.
According to the Prime Minister, the government has made significant leaps in its fiscal affairs over the last year. Chief among these initiatives is the enactment of the Fiscal Responsibility Act. The Act provides a legally binding framework for responsible fiscal management. This Act is a major historical advancement in the management of public finances and public administration for The Bahamas
“Indeed, it is one of the most advanced steps in an independent Bahamas in the area of fiscal responsibility by the Government of The Bahamas,” the Prime Minister said. He added, “The Act represents the very essence of transformation. We are ending the practice of under-budgeting and unrealistic projections.”
According to the Prime Minister, the country is experiencing a new era of making the Government more accountable for how the people’s money is spent.
“Six of our main principles for fiscal management are: accountability, responsibility, stability, transparency, inter-generational fairness and inclusive growth.
“With these goals ever in mind, a transformed Bahamas is emerging,” he said.
Additionally, the Ministry of Finance has implemented quarterly fiscal reporting, “which again promotes transparency, so that the public, and businesspeople like those of you here this morning, may have a more accurate and timely picture of the state of the fiscal affairs of the country,” the Prime Minister said.
He noted that throughout 2018, the domestic economy continued positive expansion, driven by the government since coming to office. And, as 2019 is underway, he said it is clear that the country is on a positive trajectory.
“But this is only a beginning. There is so much more to be done to create more jobs, more opportunity and better prospects for more Bahamians on New Providence, Grand Bahama and throughout our Family Islands.
“Our unemployment numbers need to go down, so that all Bahamians, especially younger Bahamians can fully experience the benefit of the economic revival,” the Prime Minister said.
According to the latest estimates by the International Monetary Fund (IMF) at the conclusion of their most recent mission in December, The Bahamas is projected to score annual growth to the tune of 2.3 percent in 2018. This is supported by the completion of Baha Mar and a stronger U.S. economy.
In 2019, the IMF estimates growth of 2.1 percent; this is the first time in 12 years, and the first time since the Great Recession of 2008, that The Bahamas has enjoyed projected growth of more than 2.0 percent for two consecutive years.
“This is a milestone. Growth means more jobs. Growth means improved family income. Growth means better opportunities and livelihoods for more Bahamians across the board,” the Prime Minister said.
By Lindsay Thompson
Release: BIS
Photo Caption: Prime Minister Minnis addresses the 28th Annual Bahamas Business Outlook 2019, on January 17 at Baha Mar under the theme, ‘Transforming The Bahamas.’
(BIS Photos/Yontalay Bowe)
Bahamas News
Sister Province/Island Relationship Agreement Signed between Grand Bahama Island and Hunan Province
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)
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.
Rashaed Esson
Staff Writer
#TheBahamas#RoyalCaribbean, April 23, 2024- After being delayed following its announcement in 2020, Royal Caribbean’s new 17 acre Royal Beach Club on Paradise Island in Nassau, Bahamas, is now in the works and is scheduled to be ready for 2025, according to reports. A groundbreaking ceremony was held on Monday April 22, signifying the start of construction in the next few months. This project is huge for The Bahamas as it’s a first of kind for the nation, with a unique public private partnership allowing Bahamians to hold up to 49 percent in equity.
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