Connect with us

Bahamas News

BAHAMAS: PM’s Remarks at Austin Technology Council/Texas Association of Business

Published

on

#UnitedStates, January 24, 2018 – Austin, TX – Distinguished ladies and gentlemen, Good morning, I am delighted to be here with you this morning The Bahamas, like Canada and Mexico, is among the closest geographic neighbors of the United States.  To offer you some geographical perspective, the Bahamas’ archipelago extends southwest from Southern Florida in the United States to northern Cuba.

Our far-flung archipelago, with approximately 21 major islands and many hundreds of cays and islands, extends from north to south, approximately the same geographic length from the northern to the southern end of Britain.  To put it another way, The Bahamas extends from north to south, the same distance as from Puerto Rico to Trinidad and Tobago off the coast of South America.

We are just 50 miles off the coast of Florida, less than half hour’s journey by air from our capital, Nassau.  This proximity is partly responsible for the longstanding good neighbour relationship which exists between our two countries.  There are long and well-established ties between The Bahamas and the United States.  The Bahamas is among the oldest parliamentary democracies in the Western Hemisphere.   We have a stable government, a well-established and respected legal system with The Privy Council in London as the highest court of last resort.

Our English-speaking population of nearly 400,000 people is proud, patriotic and peaceful.  Our economy has historically been based on tourism and while tourism will always be the main driver of our economy, we also appreciate the need for economic diversification.  With this in mind, late last year we passed legislation known as the Commercial Enterprises Act.

The intent of this Act is to offer incentives to investors who establish businesses in The Bahamas that would help us in our diversification drive while also creating higher paying jobs and long-term job security.  Under this legislation, investors in captive insurance, reinsurance, arbitration, wealth management, computer programming, maritime trade, nanotechnology, biomedical industries, data storage, call centers, software design and writing will be given a number of concessions and incentives if they were to locate in The Bahamas.

Ladies and Gentlemen: My government has embarked upon a major mission to establish The Bahamas, particularly Grand Bahama Island, as a world-renowned technology hub.  Grand Bahama is the second most populous island in The Bahamas, with excellent modern infrastructure.  The capital, Freeport, is in short flying distance from Florida, and enjoys US Immigration and Customs Pre-Clearance.

PTS INSERT

This past November, through our first ever Grand Bahama Technology Summit, we started on the path to realize this goal.  We had the opportunity to host some of the finest minds in technology locally and from international tech giants. Grand Bahama is uniquely suited to become an internationally recognized Science, Technology and Innovation hub.  We invite you consider Grand Bahama as you plan your next start up or the expansion of your international enterprise.  Grand Bahama and The Bahamas possess modern and superior infrastructure, modern roads, constant and reliable electricity supply of North-American standards, fully digital telecommunications and high quality high-speed internet.

We also have a wide variety of public and private schools, both elementary and secondary, as well as the University of The Bahamas.  We realize that an integral component of the continued growth of our economy is by developing human capacity through education.  I am pleased that our schools and university are committed to maintaining modern and strong curriculum standards to prepare our people for a growing job market.

Bahamians are also among the most technologically savvy people in the Caribbean.  Our recent Technology Summit highlighted several Bahamians who are at the cutting edge of innovation and technology.

Ladies and Gentlemen: Grand Bahama has proven to be an attractive place for manufacturing cutting-edge technology.  Corporation has identified Grand Bahama as the ideal location to configure and assemble the Ocean Medallion concierge system.  This interactive technology is expected to change the cruise experience and we are proud to house its development center in the Grand Bahama.

The Bahamas is currently finalizing programs for blockchain-based solutions, fin-tech and crypto-currency companies and intend to promote blockchain as a sub-industry within ICT.  We are currently engaged in discussions on how we can fast-track work permits and ensure that companies who employ US and foreign talent can retain these employees in The Bahamas.  We remain open to tailor-making packages specific to a company’s needs, allowing them to retain their talent without increasing cost.

Legislation has been passed in our Commercial Enterprise Act which will streamline business applications and immigration processes in order to facilitate new technology businesses.

Freeport, Grand Bahamahas great promise as a digital center.  Our nation’s second city has superb communications infrastructure so you are always connected. Freeport has two major ISPs with independent terrestrial, subterranean, sub-sea and wireless networks.  The city also boasts diverse network paths, self-healing metro, inter-island and international networks.  Home connectivity in Freeport is measured up to 100 megabit per second, having providing business services via copper and fibre, with speeds exceeding 1 gigabit per second.

Freeport is one of the most unique areas of the entire Bahamas, being that it is managed by the Grand Bahama Port Authority, a private city management organization, in conjunction with the national government.  In the early development of the City of Freeport, The Grand Bahama Port Authority created the Hawksbill Creek Agreement, which established Freeport (The “Port Area”) as a free trade zone.

SUNNY FOODS INSERT FIX

Under the Hawksbill Creek Agreement, business owners enjoy the benefits of a tax neutral jurisdiction.  There is no capital gains, real property or corporate income tax.  Freeport is especially suited for development, as the pre-planned city has not yet nearly met its capacity.  Undeveloped, unpolluted land and buildings are just waiting to be utilized in the City of Freeport.

Additionally, Freeport houses the island’s highly reliable power company.  My government prioritizes maintaining close relations with our service providers.   I am pleased to say that Grand Power Company has expressed its preparedness to be flexible in rates particularly for new technology companies.  Additionally, The Freeport Container Port boasts the deepest container terminal in the region.  The 24-hour a day facility serves as a major transshipment hub between the US, Latin America, Europe.

Freeport proudly boasts advanced building codes – some of the strongest in the Western Hemisphere – and a communications infrastructure that has withstood major hurricanes. Data Centers established in Freeport have not been impacted in any hurricane season.  The Bahamas enjoys economic and monetary stability.  We have a skilled workforce at competitive rates.  We have world-class infrastructure.  We have a progressive immigration policy designed to attract talented professionals from across the globe.   The Bahamas offers modern educational and health facilities, a wealth of cultural events, and pristine beaches which all adds up to luxury living at its finest.

On behalf of the Government and the entire people of our great nation, I sincerely thank you for your time.   I look forward to future partnerships as we embark on this new beginning for The Bahamas.  It is not just Better in The Bahamas in terms of the visitor experience for tourists.  The Bahamas is also an excellent place for investment, and we continue to get even better.

Thank you and good morning.

 

Continue Reading

Bahamas News

New Manifestos Released as Bahamas Heads to Historic May 12 Vote

Published

on

The Bahamas, April 14, 2026 – With the 2026 Bahamian general election set for May 12, the country’s major political parties have now formally placed their plans before the electorate, offering competing visions for governance, growth and relief.

The governing Progressive Liberal Party (PLP), led by Philip Davis, launched its “Blueprint for Progress 2026” on April 8, 2026, outlining a 46-page plan focused on long-term development and systems reform. The document places heavy emphasis on energy transition, digital government, workforce training and food security, positioning the party as one seeking continuity following its first term. The full plan is publicly available online through official PLP platforms for voters to review.

Just days later, on Sunday, April 12, the opposition Free National Movement (FNM), under Michael Pintard, unveiled its 2026 Manifesto at a major event in Nassau. Spanning 54 pages, the document centers on cost-of-living relief, tax reform, healthcare expansion and housing, offering what the party describes as a more immediate response to economic pressures facing Bahamian families. The FNM has also made its manifesto accessible online.

Beyond the two major parties, the Coalition of Independents (COI) had already entered the policy space earlier, formally unveiling its long-range Vision 2030 framework on Saturday, March 1, 2025, at the Fusion Superplex in Nassau during a packed national launch led by party leader Lincoln Bain. That framework has since been complemented by a 100-day action plan released in late March/early April 2026, adding a short-term policy layer to its long-range proposals.

These policy rollouts come as the country prepares for a pivotal vote, with the Parliamentary Registration Department confirming a voters’ register of approximately 203,000 eligible voters, one of the largest in the nation’s history. Key dates are now set, with Nomination Day on April 16, followed by advance polls on April 30, ahead of General Election Day on May 12.

With platforms now in the public domain and the timeline locked in, the focus shifts squarely to the electorate—who must now weigh the promises, examine the plans and decide the country’s direction at the polls.

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

Continue Reading

Bahamas News

From Concept to Approval: What a 2019 Water Security Plan Now Means for Bahamians

Published

on

The Bahamas, April 14, 2026 – At its core, the $65 million water security project is designed to strengthen the reliability, safety and resilience of the water supply across The Bahamas.

If implemented as planned, the investment is expected to improve water quality, reduce contamination risks and support public health, while increasing supply reliability and limiting service disruptions during droughts or system failures. The project also aims to expand and upgrade infrastructure, including wellfields, pumping stations and storage capacity, and to protect freshwater resources from saltwater intrusion—an increasing threat for low-lying islands. In practical terms, that could mean cleaner, more consistent and more dependable access to water for residents across the country.

The project was first conceptualised in 2019 under the previous administration, when a proposal was submitted to the Green Climate Fund to strengthen the resilience of the country’s water systems. That early work came just months before Hurricane Dorian exposed the vulnerability of national infrastructure, including critical water and sanitation systems, particularly in the northern Bahamas.

The initial phase focused on developing the concept, identifying priority areas and engaging regional and international partners, including the Caribbean Development Bank, to support the design and preparation of a full funding proposal.

Following the change in government in 2021, the project advanced into its most technical and demanding stages. The current administration oversaw the completion of key requirements, including feasibility studies, environmental and social assessments, and detailed financing negotiations with international partners—steps necessary to move the proposal from concept to approval.

That multi-year process has now culminated in approval of a $65 million financing package, combining grant funding with concessional loans to support long-term upgrades to the country’s water infrastructure.

While the project brings significant international support, it is not entirely free money. The package is structured as a blended financing arrangement, combining grant funding with concessional loans—meaning a portion of the funding will ultimately need to be repaid. Based on information released by the Caribbean Development Bank, approximately $25 million of the total package is tied to loan financing, with the remaining portion provided as grant support.

Concessional loans typically carry more favourable terms than commercial borrowing, including lower interest rates and longer repayment periods. However, they still represent debt obligations that will be borne over time.

Notably, detailed terms of the loan components—including interest rates, repayment schedules and any associated conditions—were not disclosed in the initial announcement issued by the Office of the Prime Minister (Bahamas). Those details are expected to be outlined in formal financing agreements, but have not yet been made public.

For Bahamians, the project represents both investment and obligation. While the grant funding provides a significant boost to infrastructure development, the loan component adds to the country’s long-term financial commitments—making transparency around terms and implementation timelines especially important.

While the approval marks a significant milestone, the timeline for delivery remains a critical factor. Based on information available from project partners, implementation is not expected to begin immediately. The initiative is anticipated to move into its execution phase later in 2026, following finalisation of financing agreements and completion of preparatory requirements.

From there, the project is projected to unfold over several years, with estimates suggesting a multi-year implementation period of up to seven years to fully deliver the planned upgrades to water infrastructure across The Bahamas.

This means that while the funding has now been approved, the benefits will be realised gradually rather than all at once. A definitive completion date has not been publicly outlined, and detailed timelines tied to specific islands or phases of work have yet to be disclosed.

For Bahamians, the question now shifts from approval to execution—when funds are drawn down, when construction begins, and how consistently the project moves from plan to delivery.

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

Continue Reading

Bahamas News

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

Published

on

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.

Continue Reading

FIND US ON FACEBOOK

TRENDING