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Small business license fees in the Grand Bahama Port Area may soon change

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#Bahamas, January 30, 2018 – Grand Bahama – Small business license fees may soon fall in line with the rest of The Bahamas, said Minister of State for Grand Bahama in the Office of the Prime Minister, Senator the Hon. J. Kwasi Thompson on Friday.  Minister Thompson was addressing the Grand Bahama Chamber of Commerce Annual Installation of Officers and Directors 2017-2018.

Former GB Chamber President, Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest, installed the new officers.  Minister Thompson apologized for the absence of the Prime Minister, who was in Andros for the National Memorial Service for the plane crash victims.  As the government believes in reform, modernization and transformation, soon after coming to office, an Ease of Doing Business Committee was appointed. They have made recommendations which are being reviewed and carried out.

“I commend the Deputy Prime Minister and his team for the improvements already made.  It should also be noted that we intend for the changes to also apply to Freeport.  As an example discussions have begun with the Grand Bahama Port Authority to express the Government’s desire to bring business license fees for very small businesses on the same level as the government’s fee, which is $100.   It doesn’t seem right that a person wanting to start this type of business in the Port area has to pay sometimes 10 times as much than everyone else in the rest of The Bahamas.   In addition we continue to work out arrangements for the One Stop Shop for Investment in Freeport.

“Small-and-medium sized Bahamian businesses are a critical part of our economy.  These businesses employ thousands of Bahamians.  They are critical for economic growth.

“To promote the ease of doing business for such enterprises, at the end of last year, after consultation with the Central Bank, the Government announced the relaxation of Exchange Controls on capital transactions, namely on capital (investment) and current account (trade) transactions.

“This was a reform long overdue.  These changes come into effect as of 1 February 2018.   Without prior reference to the Central Bank, Bahamian-owned businesses will be allowed to maintain operating deposit accounts with up to $100,000 in foreign currency at domestic commercial banks.

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“These accounts will have to be funded exclusively from revenues earned in foreign currency.   Central Bank approval will continue to be required for accounts with balances of more than $100,000 in foreign currency.”

Minister Thompson outlined another reform whereby upon application to the Central Bank, Bahamians and residents will be able to have foreign currency denominated deposits or investment assets outside of The Bahamas, or bring it back to the country and it remain in the same foreign currency.

“No penalties will be imposed on regularized accounts and investments.  The owners of deposit facilities will be allowed to use the resources to finance domestic transactions, without restriction.

“Prohibitions will exist against either funding or augmenting these facilities with proceeds converted from Bahamian dollars.”  He further stated, “Last year we passed the Commercial Enterprise Act, which promises enormous benefits to our economy.

“The intent of this Act is to offer incentives to Bahamian and international investors who establish businesses in the Bahamas, which will help to diversify the economy, and to create higher paying jobs and long-term job securit“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.

“Another reform that has already been announced is the creation of an independent board to review applications for work permits and citizenship.  This will allow for less interference and more openness in the process of obtaining citizenship.”

The Minister said revitalizing Grand Bahama has been a priority of the government since the General Election in May, 2017, and stating that there is a long way to go, he added that the road to recovery has begun.

“To boost growth and employment we must stimulate domestic and foreign investment, as well as opportunities for large-scale and small- and medium-sized businesses.”

Listing some of the things done in an attempt to boost the local economy, Minister Thompson said the government negotiated the completion of a Letter of Intent on the sale of the Grand Lucayan Hotel, and is currently working diligently to complete the sale of the Grand Lucayan and Memories property.

“After they are reopened, the economy of Grand Bahama will improve significantly, including with a tremendous increase in employment and related business and economic opportunities.

“We also successfully negotiated with Bahamas Paradise on the return of the Grand Celebration, and the introduction of a new vessel, the Grand Classica, which will bring additional stopover visitors and more opportunities to Grand Bahama in April.  We learned the painful effects of not having the Celebration vessel for a few months and therefore looking forward to the increased benefits of having both vessels.

“In conjunction with Ministry of Tourism, and our Minister of Finance DPM we also negotiated an airlift agreement with Sunwing, and now have the return of Vacation Express. It has been announced that a total of eight non-stop flights departing from various US cities, will begin their flight schedules in May 2018.”

Scheduled to begin in May are flights from Detroit, Chicago, Nashville, Pittsburgh, Newark, Baltimore, Cincinnati, and Dallas. These will be operated by Swift Air LLC., and the Ministry of Tourism projects a potential 16,800 passengers.  Additionally, negotiations ongoing with the “Ginn Property” in West End, along with a new investment in East End involving an oil refinery. This announcement, said the Minister, will be made at the appropriate time.

Going over the advancements made in the area of technology, Minister Thompson told Chamber members that a Grand Bahama Technology Hub Steering Committee has been formed to establish Grand Bahama as a technology hub.  Carnival Corporation is already assembling their Ocean Medallion Concierge System, and Grand Bahamians have been hired and are being trained.

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“The Bahamas is also currently developing programs for block chain-based solutions, fin-tech and crypto-currency companies, and we intend to promote block chain as a sub-industry within ICT.”

Touting joint efforts between the government and the Chamber, Minister Thompson acknowledged the government’s summer job program where some 500 young people were placed in local businesses.  There was also the Business to Business Initiative which began on September 28, 2017 designed to provide business opportunities to budding entrepreneurs.

“The initiative exposed existing entrepreneurs and small businesses to opportunities which exist already at the larger industrial companies. The first to participate were the Grand Bahama Shipyard and Buckeye. We intend to continue this initiative with other major companies.

“The Apiary Project began on 24 October which will help 30 young people to enter the honey production business here in Grand Bahama.  These young people began training on the 2nd January 2018.

Each participant will receive a stipend during a 14-week training program, and will have access to funding and mentorship from Bahamas Development Bank.

“We look forward to your partnership with the our office and Deputy Prime Minister, Port Authority and the University of the Bahamas for the launch of the Small Business Development Center, which would provide support and research resources for entrepreneurs.  We have also been most grateful for your support in our GB Micro and Small Business Economic Empowerment and Entrepreneurial Incentive Program launched last year.”

Minister Thompson said they will be calling on the business community once again on February 17th at the Ministry of Labour Job fair, where he hopes they will not only participate, but hire as many people as possible.

In closing, the Minister said, “The Chamber continues to be a great partner and [I] look forward to an even closer relationship.  We have a talented creative and vibrant private sector.  I believe you have what we need to reignite Grand Bahama’s economy.  Within you lies the talent, ability, resources, and capacity we need for success. We as a government must create the environment that will motivate you to expand, invest and progress.

“I encourage you to seriously look at reinvesting, renovating, expanding, reshaping, re-tooling, and rehiring. Fixing Grand Bahama will not be easy or quick but I believe we all have what it takes and I stress, we all.”

 

By: Robyn Adderley

Photo caption: Senator the Hon. Kwasi Thompson.

(BIS Photo/Lisa Davis)

 

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Nassau Cruise Port Marks Sixth Anniversary with Exciting New Additions for Visitors and The community

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[Nassau, Bahamas, October 8, 2025] Nassau Cruise Port (NCP) proudly celebrates its sixth corporate anniversary by unveiling a series of transformative additions that further enhance the guest and community experience. The anniversary comes at a pivotal moment in the growth of the port, with the opening of a new swimming pool, an expanded marina, and a state-of-the-art ferry terminal that will support transfers to the Royal Beach Club, which is currently under construction on Paradise Island.

Since its $300 million redevelopment, Nassau Cruise Port – the largest transit cruise port in the world – has welcomed millions of visitors and become one of the most vibrant cruise destinations in the world. This anniversary not only reflects its commitment to delivering world-class facilities, but also its dedication to creating meaningful connections between visitors and the Bahamian community.

“This milestone represents much more than the passage of time,” said Mike Maura, Jr., CEO and Director of Nassau Cruise Port. “It reflects our promise to continually elevate the guest experience, contribute to the local economy, and provide opportunities for Bahamians. During our first year (2019) of operating the Nassau Cruise Port, Nassau welcomed approximately. 3.85 million cruise guests, and 2025 will see well over 6 million cruise visitors visit Nassau. Our focus on driving cruise tourism and the $350 million investment in our downtown waterfront is a testament to our vision of making Nassau a premier cruise and leisure destination.”

The new pool offers a refreshing retreat for visitors enjoying Nassau’s waterfront, while the expanded marina will accommodate additional yachts, boosting tourism and local commerce. The ferry terminal expansion enhances passenger flow and supports convenient, seamless transfers to the Royal Beach Club, strengthening Nassau’s position as a hub for Caribbean cruising and leisure.

As part of its anniversary celebrations, NCP will host a series of internal and external activities to celebrate its team and to highlight its ongoing investments in the Bahamian economy, including job creation, local vendor opportunities, and cultural showcases at the port.

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Next U.S. Ambassador?  Walker Pledges Business-Driven Approach as U.S. Looks to Counter China in The Bahamas

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Deandrea Hamilton | Editor

 

The Bahamas, September 16, 2025 – For the first time since 2011, the United States is on the cusp of sending an ambassador to The Bahamas — and the nominee, former football star turned entrepreneur Herschel Walker, is promising to bring his business instincts to the diplomatic table.

Speaking before the Senate Foreign Relations Committee last week, Walker underscored that his background in food-service companies and small business leadership has prepared him to think practically about investment. “I know how to run a business, how to create jobs, how to make payroll. Those lessons translate into building relationships and building trust,” Walker said.

Walker, who was nominated by President Trump in December 2024, faced the Senate Foreign Relations Committee on September 11. As of now, he has not yet been confirmed; his nomination remains under review, pending a committee vote before it can move to the full Senate. If approved, he would become the first U.S. ambassador to The Bahamas since 2011.

For years, U.S. officials have stressed security and counternarcotics cooperation with The Bahamas, including through “Operation Bahamas, Turks and Caicos.” But in areas like infrastructure, medical care, and long-term investment, Washington has often been absent.

Hospitals and clinics remain under-resourced, and hurricane recovery has been slow in many islands. Chinese state-backed firms, by contrast, have shown up with financing packages and construction deals — a presence that has raised alarms on Capitol Hill.

“Only 50 miles off our shore, The Bahamas is too important for us to ignore,” warned Senate Foreign Relations Committee leaders during Walker’s hearing. They called China’s inroads “strategic, not charitable,” suggesting Beijing’s long game is about ports, proximity, and political leverage.

Walker positioned himself as a nontraditional but pragmatic envoy. He argued that his business career, rooted in private sector success, equips him to champion American investment in The Bahamas.

He pledged to:

  • Promote U.S. companies interested in medical and infrastructure projects.
  • Support an environment that encourages American investors to see The Bahamas as more than just a beach destination.
  • Highlight opportunities for partnerships that improve public services, healthcare, and resilience against hurricanes.

“I’ve built businesses. I know what it takes to attract investors and create opportunity. That is exactly what I intend to bring to our relationship with The Bahamas,” Walker said.

The Bahamas is not just a tourist paradise. It’s a frontline state in migration, drug interdiction, and hurricane response. More than six million U.S. visitors travel there annually, making stability and safety a U.S. domestic concern as much as a foreign policy one.

And yet, with the ambassador post vacant for 14 years, the U.S. has often looked detached — opening space for China’s ambitious Belt and Road agenda. The fear is that infrastructure deals signed today could give Beijing leverage in the region tomorrow.                                                                                                                                                                                                                Walker’s confirmation would symbolize a course correction, signaling Washington’s intent to re-engage not only in security but in the economic future of The Bahamas.                                                                                                                                                                                                                    Not everyone is convinced Herschel Walker is the right man for the job. His nomination revived controversies from his 2022 Senate run, including past allegations, public gaffes, and doubts about whether he has the diplomatic polish the post demands. Some senators and analysts questioned whether celebrity and business experience were enough for a role requiring nuance in foreign policy and geopolitics.

Critics argued that The Bahamas, sitting just 50 miles from Florida and facing intense Chinese interest, deserves a seasoned diplomat rather than a political ally.

Walker confronted those doubts head-on. “People have underestimated me all my life — in academics, athletics, and business,” he told the Senate Foreign Relations Committee. “And I have always proven them wrong, through discipline, determination, and by outworking everyone.”

He admitted he had never served as an ambassador but countered that his career prepared him in other ways: building businesses, managing payrolls, and connecting with people from all walks of life. He framed his business background as a strength, promising to use it to encourage U.S. investment in healthcare, infrastructure, and hurricane resilience projects in The Bahamas.

Rather than sparring with critics, Walker leaned on confidence and persistence: “I know how to build trust and find common ground. That’s what this relationship needs.”

If confirmed, Walker would have to balance his role as diplomat with expectations of being a commercial cheerleader for U.S. firms. His emphasis on entrepreneurship suggests a willingness to push U.S. businesses toward opportunities in healthcare, ports, and post-storm reconstruction — areas where Bahamians say they need the most support.

For Bahamian officials, the question will be whether Washington is prepared to back words with financing. U.S. private sector dollars, paired with aid and development partnerships, could help shift the tide against Chinese influence.

For Walker, the test will be whether his business acumen can translate into diplomatic wins — giving Bahamians alternatives to Beijing, while deepening the U.S. role in the Caribbean.

Analysis: If Walker delivers, this appointment could mark a turning point: a U.S. strategy that recognizes that in the Caribbean, investment is diplomacy.

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Conflicting Reports as Grand Bahama Awaits Its New Airport: What to Believe?

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Deandrea Hamilton | Editor

 

September 16, 2025 – Grand Bahama’s wait for a modern international airport has taken another dramatic turn. Just days after reports surfaced that the $200 million redevelopment had collapsed because partners failed to secure financing, the government is now insisting the project is alive and well — with funding in the “final stages” and construction on the horizon.

Earlier This Week: Airport Deal in Dire Straits

The week began with grim headlines. Deputy Prime Minister and Aviation Minister Chester Cooper confirmed that private partners in the much-heralded consortium had not produced financing. “Regrettably, the funding had not happened,” he admitted, sparking widespread fears the deal had crumbled.

Those admissions triggered a storm of skepticism in Freeport. Back in February, the government had declared the airport deal “finalized,” naming Aerodrome Ltd., Manchester Airport Group, and BHM UK as partners. They promised demolition within 30 days, designs in 45 days, and a new terminal by year’s end. But now, more than four months later, not a single milestone has been delivered.

For residents and business leaders, the collapse narrative confirmed their worst fears: that Grand Bahama was once again being strung along with empty promises. Long-stay tourism — the kind that sustains hotels, restaurants, taxis, and shops — depends on a functioning airport. Without it, the island’s economy remains hobbled.

Today: Government Pushes Back

But late Thursday, the government issued a forceful rebuttal. “The redevelopment of Grand Bahama’s International Airport remains a central priority for this administration and is key to the island’s economic renewal,” the statement read. Officials stressed that they are “in the final stages of securing funding and concluding agreements on airport management.”

The statement went further, clarifying the role of Manchester Airport Group, the UK’s largest airport manager. MAG, it said, was never meant to provide financing but remains a core partner in shaping the airport’s development and management. Bahamian contractors, the government insisted, are part of the team tasked with delivering the facility. “Our focus is on results,” the release concluded. “Grand Bahama will have the airport it needs to grow, attract investment, and strengthen its role as a gateway to The Bahamas.”

Who Should Grand Bahama Believe?

The conflicting narratives — one of a deal in “dire straits,” the other of a project in “final stages” — have left Grand Bahama residents struggling to know what to believe. Is the airport project truly on life support, or is the government simply playing its hand close until funding details are nailed down?

Skeptics point out that this is hardly the first time the airport has been declared a priority only to see little follow-through. Promises in 2023, in February 2025, and again in summer 2025 all failed to produce visible progress. Each missed deadline has chipped away at public trust.

Supporters of the government counter that large infrastructure projects are inherently complex, with legal negotiations and financing arrangements often dragging longer than planned. They argue that the continued involvement of Manchester Airport Group is evidence the project is still credible.

The Bigger Picture

Grand Bahama’s airport troubles are intertwined with the stalled $120 million Grand Lucayan hotel sale, which also remains without visible progress 129 days after it was announced. Business leaders insist both projects must move together if the island is to see real recovery. A luxury resort without a modern airport is as unviable as an airport without hotel rooms to fill.

For now, the people of Grand Bahama are left in limbo. This week they were told the airport deal had failed. Today, they’re being told it’s moving forward. The only certainty is that, nearly a year after the latest round of promises, not a single crane has touched the sky.

As one resident put it: “We don’t need more statements. We need to see bulldozers.”

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