#Bahamas, November 30, 2017 – Nassau – No need to be frightened of the Commercial Enterprises Bill 2017 because any company applying to do business in The Bahamas will have to go through the set procedures before being given a green light to operate. Both the Minister of Finance and the Minister of Financial Services are speaking out after a battering in the media by current and former country leaders on their new legislation. DPM Peter Turnquest said that everyone is entitled to their own opinion but warned against scare tactics or sensationalizing the proposed law.
The Deputy Prime Minister said the country is proposing new industries but all investments will have to go through the Bahamas Investment Authority about what they require to set up shop. Turnquest said the economy needs for Bahamians to open up to adaptation, not business as usual. He added in a media report that, “This is not about introducing foreigners to come and take jobs that Bahamians have or Bahamians are qualified to do. This is about creating new opportunities. This is about introducing new skills into the country that is designed such that those skills are transferred to Bahamians so that they could take advantage of those opportunities going forward.”
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