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House Communication By Minister Of Tourism The Hon. Obediah Wilchcombe On Meetings With Major Investors In London

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COMMUNICATION

BY

THE HON. OBEDIAH H. WILCHCOMBE

MINISTER OF TOURISM
AND MEMBER WEST GRAND BAHAMA AND BIMINI

MEETINGS WITH MAJOR INVESTORS IN LONDON

DATED: DECEMBER 9th, 2015
Mr. Speaker,

Following participation in the Commonwealth Heads of Government Meeting in Malta, and the Climate Change Summit in Paris, attended by Heads of State from across the globe, the Prime Minister and his delegation spent two days in London last week, engaged in vital and fruitful discussions with major investor groups in The Bahamas.

We took the opportunity of holding frank, timely and encouraging discussions with principals of the Hutchison Group headquartered in Hong Kong. This huge conglomerate is among the largest and most influential investors in Freeport, Grand Bahama. The Group recently underwent a restructuring of holdings and responsibilities under two umbrella companies, Hutchison Port Holdings Ltd. of which Mr. Canning Fok is Group Managing Director, and Cheung Kong Property Holdings Ltd. of which Mr. Raymond Chow is Group Managing Director. They travelled from Hong Kong to London for the meetings and were joined by divisional senior executives based in London, Hong Kong and Freeport. Hutchison Port Holdings Ltd. has responsibility for ports and CK Infrastructure Holdings Limited has responsibility for properties, real estate and resorts. Both of these entities have considerable investments in Freeport in the port, the airport, vast real estate holdings, hotels, and the Port Group of companies.
Mr. Speaker,

With the concessions of the Hawksbill Creek Agreement relating to real property tax, capital gains and income taxes expiring in February, 2016, the opportunity was taken to provide an update on the work of The Hawksbill Creek Review Committee and the steps being taken by Government regarding any proposed extension or otherwise of these particular concessions. Hutchison’s local representatives have participated fully in the Review process, and their senior executives provided useful responses and insights in relation to the concessions, the maintenance of their existing businesses, further investment, and the attraction of new investors to Grand Bahama.

At the outset of the meeting, we reiterated the terms of reference of the Hawksbill Creek Review Committee and the need for a paradigm shift in the governance of Freeport having regard to present realities, including the expectations of both the people of Grand Bahama, and investor/licensees, the inertia, division and loss of strong/visionary leadership at the Grand Bahama Port Authority. We pointed out that it was important in this context for the Government to forge a strong partnership with the Hutchison Group in arresting this situation, and in maintaining a dynamic environment in which private investments would flourish and sufficient revenues generated to adequately meet public expenditure requirements, as was not now the case. While stressing the need for greater Government involvement in governance and regulation and stronger partnership between Government and Freeport licences, we pointed to the requirement for greater efficiency and flexibility on the part of both Government and the Grand Bahama Port Authority in ensuring Freeport’s competitive edge with the rest of the world with ever changing circumstances.

Mr. Speaker, the executives of Hutchison Port Holdings and CK Property Holdings stated that they shared some of the same concerns raised by the Government. They had invested one billion dollars in Freeport and had not realized a satisfactory return on their investment. Their hotels particularly were sustaining heavy losses, nevertheless they kept meeting the shortfall and kept the hotels opened without laying off staff. Lighthouse Point hotel was being renovated for opening this winter season. They indicated that more airlift and marketing was needed to make the properties profitable, notwithstanding the major efforts being made in this regard by the Ministry of Tourism. The cost of operating Hutchison properties were also adversely affected by the high cost of labour in Freeport.

Mr. Speaker,

In committing to further investment in Grand Bahama including the Phase V expansion of the Container Port, in pursuing the development of a logistics centre and the development of their extensive real estate holdings, Hutchison Port Holdings and CK Property Holdings indicated that such further investment would require certainty on the extension of the expiring real property tax, capital gains and income concessions.
Overall productive discussions were had in relation to the following:

Early start of expansion of container port and related facilities.
Pursuing with partners the development of the Air/Sea Business Logistics centre.
Upgrade of the Grand Bahama International Airport and pursuant of a Public/Private partnership in its ownership and operator.
Agreement for Waiver of Exclusivity between Freeport Harbour Company and Government in relation to cruise ports, offshore cruise moorings in Grand Bahama.
Cruise port project for East Grand Bahama
Plans and initiatives to re-invigorate the hotel, casino, golf courses, and real estate holdings.
Timely completion of the Review of the expiring concessions under the Hawksbill Creek Agreement.
Matters relating to the revitalization of the Grand Bahama Port Authority, licensing and regulatory functions.

Mr. Speaker,

The Mediterranean Shipping Company is a major owner of cargo vessels and cruise ships headquartered in Geneva, which are also partners with Hutchison Port Holdings in the Freeport Container Port. Mr. Diego Aponte, President and CEO of MSC Shipping, Mr. Pierfrancesco Vago, Executive Chairman of MSC Cruises and Mr. Gianluca Suprani, Head of Global Port Development and Shore Activities also travelled from Geneva to London, where we held encouraging and wide ranging discussions on their present and expanding investments in The Bahamas. They were given a similar briefing as provided to Hutchison Group on the Review of the expiring concessions under the Hawksbill Creek Agreement, the need for a strong partnership between MSC and the Government in relation to the future governance, regulation and development of Freeport, the revitalization of the Grand Bahama Port Authority and the attraction of new and value added business to The Bahamas.

Mr. Speaker,

MSC confirmed their readiness to proceed with the $250 million phase V expansion of the Freeport Container Terminal in partnership with Hutchison Port Holdings. Currently they move 1 million containers a year to Freeport and with phase V expansion that number will be doubled. In addition they will proceed early in the New Year with the establishing of a Marine Training School in Freeport. They will train and recruit Bahamians to staff their cruise ships and serve as mariners on both their cargo vessels and cruise ships in collaboration with the Ministry of Education, Science & Technology, the Ministry of Transport & Aviation, The College of The Bahamas, and The Ministry of Labour & National Insurance, The National Training Agency and other local institutions.

We finalized our discussions on a Heads of Agreement to be executed in Nassau next week relating to an imaginative and exciting Ocean Cay Port project and the aforementioned Grand Bahama initiatives. Work on the project which will be lushly tropically landscaped, include picturesque beaches, water sports, numerous attractions, entertainment, facilities, shops etc. to be operated by Bahamians. Due care and attention will be given to preserving the marine and natural environment. MSC will position a new class of cruise ships which will call at both Ocean Cay and Nassau, catering significantly to affluent Europeans.

MSC has also shown interest in another major business opportunity in Freeport which would considerably impact the Freeport economy.

During our discussions MSC executives indicated their strong confidence in the Government and economy of The Bahamas.

Mr. Speaker,

I should like to recognise the invaluable contributions of the delegation that participated to these London meetings which involved much advance preparation. The delegation led by the Prime Minister included the Minister of Tourism, The Honourable Obediah Wilchcombe, The Attorney General & Minister of Legal Affairs, The Honourable Allyson Maynard-Gibson, The Minister for Grand Bahama, The Honourable Dr. Michael Darville, Senior Policy Advisor, Sir Baltron Bethel, Chairman Hawksbill Review Committee, Dr. Marcus Bethel, Consultant Ministry for Grand Bahama, Mr. Albert Gray. Administrative support was provided by Mrs. Candia Ferguson, Director of Investments and Ms. Kristal Bethel, Director, Office of Senior Policy Advisor.

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GOLD & SILVER – Hall & Guerrier Fly High for Turks and Caicos at CARIFTA 2026

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Turks and Caicos, April 06, 2026 – Technical excellence early in their jumps became the defining factor for two Turks and Caicos athletes, as David Hall soared to gold in a nail-biting Under-20 high jump final at the 53rd CARIFTA Games in Grenada. Herwens Guerrier added to the country’s success with a 1.90 metre clearance to secure silver in the Under-17 division, finishing in a tightly contested field where all three medalists cleared the same height.

Both events were decided on countback — meaning the medals were determined not just by height cleared, but by which athlete did so with fewer failed attempts, highlighting the importance of precision and composure under pressure.

A wave of national pride followed the results, with congratulatory messages pouring in for the athletes who delivered under pressure on the regional stage. In a statement, Dileeni Daniel-Selvaratnam praised both competitors, saying their “hard work, discipline and determination have made the entire nation proud,” while encouraging the wider team to continue striving as competition unfolded at the Kirani James National Stadium in Grenada.

Team Turks and Caicos finished just outside of the top ten among 28 competing nations, and anticipation is already building for what is expected to be a spirited homecoming for the standout athletes, whose performances have ignited pride across the islands.

The 53rd staging of the CARIFTA Games, held at the Kirani James National Stadium in Grenada, unfolded under warm, at times testing conditions, with intermittent showers and shifting winds challenging athletes across disciplines.

Jamaica once again asserted its dominance, capturing its 40th consecutive CARIFTA title, continuing an unmatched run in regional athletics. Among the standout performers was Shanoya Douglas, whose electrifying run in the Under-20 200 metres earned her the prestigious Austin Sealy Award — the Games’ highest individual honour — after she shattered the long-standing record of Bahamian Shaunae Miller-Uibo, who went on to become an Olympic gold medalist in the 400 metres. Douglas clocked an impressive 22.11 seconds to rewrite the CARIFTA record books.

For Turks and Caicos, however, the spotlight remained firmly on the field, where two high jumpers delivered performances defined by discipline and growth. Hall’s gold medal-winning clearance of 2.00 metres marked a significant step forward in his development, improving on his 1.89 metre silver medal performance at the 2025 Inter-High Championships. Guerrier’s 1.90 metre effort in the Under-17 division similarly places him among the country’s top emerging talents, signalling a strong future for the event locally.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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DECLARATIONS DUE: INTEGRITY COMMISSION CALLS PUBLIC OFFICIALS TO ACCOUNT

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PROVIDENCIALES, Turks and Caicos Islands — It’s that time again — a period of compliance, accountability and transparency for those entrusted with public office and captured under the category of “Specified Persons in Public Life.”

The Integrity Commission is reminding all individuals who fall within this category that they are legally required to file their Declarations of Income, Assets and Liabilities, in accordance with Section 39 of the Integrity Commission Ordinance.

The declaration window is now officially open, running from April 1 to June 30, 2026, and applies to a wide cross-section of senior public officials, statutory board members and others operating within the machinery of government.

This is not a routine administrative exercise. It is a cornerstone of good governance — designed to ensure that those in positions of power are transparent about their financial interests, and to guard against corruption, conflicts of interest and illicit enrichment.

Who Must File

The Commission outlines several categories of individuals required to submit declarations this cycle.

They include:

  • Persons who last filed on or before June 30, 2024
  • Individuals newly appointed to statutory boards or government positions from April 1, 2026 onward
  • Those who have demitted office, resigned or whose contracts have ended — who must file within 90 days of leaving their post
  • Individuals who may not have previously realized they fall under the legal requirement

The net is wide — and intentionally so.

“Specified Persons in Public Life” includes elected officials, senior civil servants, financial officers, law enforcement leadership, members of statutory bodies, and other key decision-makers whose roles carry influence over public resources and policy.

Among them are Members of the House of Assembly, Cabinet Ministers, Permanent Secretaries, Heads of Department, senior police officers, and individuals serving on public boards and commissions.

The Commission notes that the full schedule of designated roles is extensive, and persons are encouraged to consult the official list available through its office or website to confirm whether they are captured under the law.

How to File

Unlike many modern reporting systems, this process remains deliberately controlled.

All declarations must be:

  • Submitted in person
  • Delivered by appointment only
  • Accompanied by supporting documentation

Declarants will be contacted directly with their assigned appointment details, including date, time and location. The Commission has made it clear — submissions through third parties, email or mail will not be accepted.

This approach reinforces the seriousness of the process and ensures the integrity of submissions.

Declaration forms are available via the Commission’s website, and assistance is accessible through its Providenciales office for those needing clarification.

Penalties for Non-Compliance

The warning from the Commission is unambiguous.

Failure to file a declaration without reasonable cause is a criminal offence.

Penalties include:

  • Up to one year imprisonment
  • A fine of up to $15,000
  • Or both

Additionally, the Commission is mandated to publish the names of non-compliant individuals in the official Gazette — a move that carries both legal and reputational consequences.

Confidential but Critical

While the process is strict, the Commission emphasizes that all declarations are confidential documents, handled with discretion.

Still, the purpose is clear: transparency does not always mean public disclosure — but it does mean accountability to an independent oversight body.

In a region where public trust can be fragile, these filings serve as a quiet but powerful mechanism to reinforce confidence in governance.

For Turks and Caicos, this annual exercise is more than paperwork — it is a test of integrity at the highest levels.

And for those required to file, the message is simple: comply, disclose, and do it on time.

For more information or to confirm filing obligations, individuals are encouraged to contact the Integrity Commission directly.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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