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Government Wants to Move from “Undue Emphasis on Foreign Investment”

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Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said The Bahamas must move from undue emphasis on foreign investment to propel economic activity.

“While we do acknowledge an important role for such investments, if they are legitimately strategic in nature, we are firmly committed to unleashing the potential and creativity of home-grown entrepreneurs as catalysts of innovation, investment and stronger economic growth, particularly in non-traditional industries, the DPM said during his Contribution to the 2017/18 Budget Debate in the House of Assembly on Wednesday, June 7, 2017.

He explained that to support and promote increased Bahamian entrepreneurship and ownership in the economy, and especially small and medium-sized businesses, the Government has laid out, in its Manifesto, a detailed array of measures that it will pursue during this mandate. These include:

· the introduction of the Small and Medium Enterprise Development Agency (SMEDA) in order to consolidate the services and incentives of all relevant agencies;

· support for Entrepreneurship and Enterprise Centres;

· provision of a $5 million capital infusion to the Venture Capital Fund;

· establishment of a one-stop shop, incorporating relevant Government agencies and services as a means of easing the burden and cost of doing business in this country;

· encouragement of the commercial banks to establish Small Business Units staffed with professionals attuned to the particular needs of SMEs, including mentorship and guidance;

· further strengthening of the Fresh Start and Jumpstart programmes established by the previous FNM Administration; and

· make available incentives and inducements that are in line with those offered to foreign investors in the same sectors of the economy.

Grand Bahama’s economy

He said the Government will also strive to revitalise the Grand Bahama economy through initiatives that are geared to accelerating, broadening and sustaining its economic development.

The Budget Communication announced, “we would repeal and replace the disastrous Grand Bahama (Port Area) Investment Incentives Act 2016 that I have labelled as a ‘job killer’.

“Our objective is to ensure that all licensees receive equal treatment under the law, with the greatest opportunity for success, unencumbered by red tape and unreasonable cost to operate.”

In addition, the DPM said other measures the Government intends to establish include:

· relocate The Bahamas Maritime Authority to Grand Bahama as a means of establishing it as the maritime capital of the country and leverage the container port and shipyard infrastructure to attract new investment into the sector;

· further develop BTVI and the University of The Bahamas to more effectively support the island’s industrial and hospitality requirement;

· promote Grand Bahama as an eco-tourism sanctuary;

· by capitalizing on the airport infrastructure, develop the aviation sector as well as attract overnight courier services;

· utilize Crown lands in east and west Grand Bahama to create a hydro-farm and a mariculture facility to produce crops and seafood for export; and

· eliminate all preferential treatment that hinders the growth of business on the island.

Inner city communities in New Providence

DPM Turnquest said the inner city communities in New Providence have long been economically and socially depressed areas and have been neglected by Government for far too long.

He said, “Our Government will, during this mandate, therefore move to reinvigorate and transform these so-called ‘Ova-da-Hill’ communities through incentives for entrepreneurs, investors and especially small and medium-sized businesses that will spur business growth and job creation from within these communities.

“We will support the construction of business premises and new or refurbished owner-occupied homes. We will establish community centres with activities that strengthen family and social cohesion for the youth and elderly. And we will ensure the provision of potable water, sewer and sanitation services in line with those available to our citizens elsewhere,” DPM Turnquest said.

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Bahamas News

Twist To Win Ends in a Grand Style with Four $5,000 Mall at Marathon Shopping Sprees  

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Twist To Win grand finale winners (l-r) Brian Bethel, Taraceta Neely, Ashia Demeritte and Merlin Adams posing along with their winnings from the shopping spree.

NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.

The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.

With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.

Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.

Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.

Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!

After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.

The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.

At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.

Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.

Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.

The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.

Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.

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Bahamas News

 The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival  

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival.                                                                                                                                                                              Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.

As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.

Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole, with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’.                                                                                                                                                                                                                     Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.

Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.

Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the listening booth.

Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.

For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!

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Bahamas News

CWS Brings a Galore of Bubbles at Annual Jollification Festival  

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Caribbean Wines & Spirits team members smiling behind one of the company’s two bars at Jollification

NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.

Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.

The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members.  Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.

Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine.  To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.

On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking in the comfort of the chic lounge.  In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.

The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.

Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.

To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.

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