Bahamas News
PM Minnis: Government’s dramatic reform agenda, and certainty and stability, have helped to improve economy
#Bahamas, January 19, 2018 – Nassau – The Bahamian economy is steadily improving as a result of the Minnis Administration’s dramatic reform agenda during the first seven months of its governance of The Bahamas, and while there is still “a long road ahead,” there are positive prospects for the economy on the horizon, Prime Minister, Dr. the Hon Hubert A. Minnis said Thursday. Prime Minister Minnis said the turnaround is also a result of the “certainty and stability” his Administration has brought to the table insofar as government policy (policies) is concerned.
“Certainty and stability are crucial for economic growth and development,” Prime Minister Minnis told a packed room. “Even in tough economic conditions, businesses invest and create jobs if there is certainty about government policies on things like work permits, taxes, regulations relating to their business and other matters.”
Addressing the Opening Session of the 27th Annual Bahamas Business Outlook Seminar under the theme “Creating a World Class Bahamas,” Prime Minister Minnis said his Administration undertook a number of initiatives of dramatic reform and transformation in order to stabilize the Bahamian economy when it first took over the reins of governance on May 10, 2017.
Prime Minister Minnis said his Administration was also able to forestall further downgrade of the country’s credit rating through “quick action and careful financial management” a process, the Prime Minister said, took tremendous effort and “reining-in” of public finances.
“Upon coming to office, my Government fully appreciated that becoming a world class country demanded dramatic and ongoing reform, modernization and transformation.
“To aggressively pursue our reform agenda required a programme of immediate stabilization; ideas for economic liberalization and public sector reform, and a variety of initiatives to boost growth and development.
“We had to first stabilize public finances and the economy through fiscal discipline, transparency and honesty with international agencies. Through quick action and careful financial management, we forestalled further downgrade of our credit rating. This took tremendous effort and reining-in of public finances.”
Prime Minister Minnis said his Administration continues to address the issue of corruption by public officials – which he said is a burden on the public sector and which retards investment, development and productivity. Additionally, the Government “continues to take the necessary steps” to comply with various international norms and protect the country’s financial services industry.
“Upon our election to office, The Bahamas faced the threat of immediate blacklisting by the Organization of Economic Cooperation and Development and the European Union. We faced blacklisting if we failed to give a definitive indication of our commitment to apply for membership to the Multilateral Convention for the Automatic Exchange of Tax Information.
“We are continuing to take the necessary steps to comply with various international norms and to protect our financial services industry. The Government is also committed to a programme of dramatic reform and liberalization of the economy.”
The further liberalization of the economy will include a focus on Bahamian small and medium-sized businesses (SMEs) which the Prime Minister said are “a critical part of our economy.”
“These businesses employ thousands of Bahamians. They are critical for economic growth,” Prime Minister Minnis said.
The Prime Minister outlined a litany of initiatives his Administration has undertaken or will undertake in the near future that are designed to “move the Bahamian economy forward” even further. These include the recent liberalization of the Exchange Control Regime, the introduction and passage of the Commercial Enterprise Bill (now Act), the impending sale of the Grand Lucayan and Memories properties in Grand Bahama, and the establishment of Deliverables Unit in the Office of the Prime Minister, among other initiatives.
The Prime Minister also announced his plans to undertake a number of investment promotional trips to Canada, the United States, Europe, East Asia and South American.
By: Matt Maura (BIS)
Photo Caption: Prime Minister, Dr. the Hon. Hubert Minnis.
(BIS Photo/Peter Ramsay)
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
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