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BAHAMAS: Economy set to grow by 2.5 per cent this year

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#Bahamas, April 26, 2018 – Nassau – The Bahamian economy is set to grow by about 2.5 per cent during the course of the year, representing what could perhaps signal its best growth in ten years.

“This may be he best growth since the Great Recession of 2008,” Prime Minister, Dr. the Hon. Hubert A. Minnis said while addressing the Opening Session of the CEO Network Conference Wednesday night, April 25, at Melia Nassau Beach resort.

“Tourism is doing very well. Both Atlantis, Paradise Island, and Baha Mar, are doing exceptionally well.  Our economic prospects are improving, but we must do more to boost jobs and opportunity.  The wanton corruption of the last five years has ended but we must continue to reform our laws in order to confront a culture of corruption. Our public finances are improving though we are not out of the woods.

“Still, amidst our challenges, The Bahamas is much better off than it was just a year ago when we were headed into an abyss from which we would not have easily recovered.  The recovery of our national prospects and our economy has begun and has taken hold.”

Prime Minister Minnis said the Administration also has a number of exciting tourism and investment projects slated for Grand Bahama.

“We continue to promote investment opportunities in the Islands of The Bahamas.  It bears repeating: the restoration of the economy of Grand Bahama is critical for the economic recovery of The Bahamas.”

Prime Minister Minnis told the gathering that his Administration has an ambitious infrastructure programme slated for a number of the islands of The Bahamas.  Capital Development and infrastructure, Prime Minister Minnis continued, are “vital” for the growth of tourism in the Family Islands. A number of key infrastructure projects will be announced during the upcoming Budget Debate.

Prime Minister Minnis said a number of “very promising investment prospects” are on the horizon that will boost economic growth and jobs.  These, he said, will be announced in due course.

That news, coupled with the fact that crime is down in New Providence, could paint an even brighter outlook for the Bahamian economy.

“Let me note that while we have to see what happens over the longer term, crime is down in New Providence,” Prime Minister Minnis said.   “While this is a positive development, we must continue to improve policing and the criminal justice system, while promoting social intervention to help tackle some of the causes of crime.

“Through the Citizen Safety and Justice Programme, we are providing education and training, intervention measures and job opportunities for former offenders and at-risk youth.”

Prime Minister Minnis said his Administration is committed to political, social and economic reform and transformation.

“Each of these areas of national life, are pillars of our nation.  Political, economic and social reform must work in tandem. By example, economic development requires reform in education and training.  Reforming government, an ongoing process, will better help to unleash the potential of businesses and entrepreneurs.

“Economic transformation requires us to combat corruption at all levels of Government because corruption retards economic growth and poses a tremendous burden on Government finances,” Prime Minister Minnis added.

 

By: Matt Maura (BIS)

 

Photo: File photo

 

 

 

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ISU Supports Successful Multiagency Demolition Exercise in Blue Hills

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Providenciales, Turks and Caicos Islands, 23 October 2025 — The Crown Land Unit, supported by the Informal Settlements Unit (ISU) and Immigration and Border Services, led the successful execution of a reclamation exercise in Blue Hills on Wednesday October 15, 2025. The Royal Turks and Caicos Islands Police Force provided security for the operation, which formed part of the Government’s ongoing mandate under the Crown Land Ordinance to prevent squatting and encroachment on Crown Land.

During inspections conducted by the Crown Land Unit, illegally constructed timber buildings were identified on parcels 60501/091 and

60501/092. Notices of Illegal Occupation were issued in accordance with the Crown Land Ordinance; however, the persons responsible for the construction failed to comply with the instructions contained in the notices. As a result, enforcement action was taken to remove the structures and reclaim the land.

The exercise resulted in the full reclamation of 0.84 acres of Crown Land, with the removal of sixteen unauthorized and unoccupied timber structures across the two parcels. Of these, four structures were located on parcel 60501/091 (measuring 0.49 acres) and twelve structures on parcel 60501/092 (measuring 0.35 acres).

The ISU reaffirms its commitment to supporting partner agencies in the coordinated management of Crown Land, ensuring that all enforcement actions are carried out lawfully, efficiently, and in the public interest.

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TCI Imports Shift Dramatically – Panama Emerges as Back Door for Chinese Goods as TCI Imports Shift Dramatically

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Deandrea Hamilton | Editor

 

Turks and Caicos, September 6, 2025 – Turks and Caicos Islands’ import bill is telling a story far bigger than dollars and cents. The Statistics Authority’s half-year trade bulletin shows Panama exploding onto the scene as a major supplier, with shipments rising nearly 600 percent in the first half of 2025 compared to the same period last year.

On paper, it looks like TCI has suddenly fallen in love with Panamanian goods. In reality, it’s a snapshot of how the islands are being swept into the currents of global geopolitics.

Panama’s 582% Surge

Between January and June, imports from Panama leapt from just $166,000 in 2024 to $1.13 million this year — an eye-watering 582% increase. But Panama isn’t a new manufacturing powerhouse; it’s a logistics hub. Its Colón Free Trade Zone, one of the largest in the world, specializes in re-exporting Chinese and Latin American goods across the Caribbean.

For Turks and Caicos, that means everything from Hisense televisions and Lenovo laptops to Haier refrigerators is increasingly being routed through Panama instead of Miami or Nassau. Importers are finding cheaper prices, better bulk deals, and fewer tariff headaches as global trade tensions drive up U.S.–China costs.

“The trade war between Washington and Beijing looks remote from Grand Turk or Providenciales,” one local trader told Magnetic Media, “but it shows up right here on our docks. We’re buying the same Chinese products — they just happen to arrive with Panamanian paperwork.”

Italy’s Luxury Touch

While Panama grabbed the headlines with percentages, Italy’s exports to TCI also nearly tripled, climbing from $281,000 to $967,000 (+244%). The bulletin does not identify specific goods, but Italian exports globally are known for furniture, tiles, fashion, and leather products.

Poland’s Quiet Rise

Another surprise name in the trade tables is Poland, which saw exports to TCI almost double, from $3.86 million to $7.18 million (+86%). Poland is among the world’s leading furniture exporters, and its rise in TCI’s statistics underscores how European suppliers are increasingly part of the islands’ import mix.

South Caicos on the Move

The report also points to South Caicos as a key growth point. Imports through the South Caicos Customs Main Office jumped from $384,000 to $2.93 million (+663%), while the South Caicos Harbour Master nearly doubled from $3.6 million to $6.9 million (+94%). Officials link the surge to the island’s new Norman B. Saunders Sr. International Airport and the opening of the Salterra Resort & Spa, signaling how major developments can reshape local trade flows.

The U.S. Still Dominates — Especially Food                                                                                                                                                                            For all the shifts, one fact remains unchanged: the United States is TCI’s biggest supplier, accounting for $443.5 million in imports in the first half of 2025, up 19 percent from the year before. A large chunk of that increase came from food and live animals, which rose 18 percent overall to $103.9 million.

Supermarkets and resorts are stocked with familiar American staples — from Kraft Heinz ketchup and PepsiCo beverages to Tyson Foods’ frozen meats. As the population grows and the tourism sector drives up demand, the U.S. remains the breadbasket and supermarket for the islands.

A Changing Trade Map

Add it all together and the picture is striking. The Turks and Caicos Islands imported $479.5 million worth of goods in the first six months of 2025, up 14.7 percent year-on-year. But behind the topline growth is a reshaped trade map:

  • Panama’s re-exports stand in for Chinese goods once routed through the U.S.
  • Italy and Poland supply higher-end goods, likely for the growing tourism and construction sectors.
  • South Caicos is now a visible player in national trade flows.

For a small economy, these aren’t just accounting quirks — they’re signals of how global forces, local projects, and shifting supply chains intersect. A trade war between giants half a world away is rewriting who stamps the paperwork on the islands’ televisions, sofas, and ketchup bottles.

And as South Caicos’ surge proves, a single development project can swing millions of dollars in international trade.

FYI — The Numbers at a Glance

  • Total imports (Jan–Jun 2025): $479.5M (+14.7%)
  • Panama: $1.13M (+582%)
  • Italy: $967K (+244%)
  • Poland: $7.18M (+86%)
  • U.S.: $443.5M (+19%)

For Turks and Caicos, the trade bulletin isn’t just about numbers. It’s about where the islands fit in a world of shifting power, supply chains, and resort-driven transformation. And for 2025, Panama, Italy, Poland — and South Caicos — are the names to watch.

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Strengthening Maritime Standards: 59 Certified in STCW through Groundbreaking TCICC, Department of Maritime and Shipping and LJM Academy Partnership

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Providenciales, Turks and Caicos Islands – Wednesday, 27 August 2025:  In a significant step toward strengthening maritime safety and professional standards in the Turks and Caicos Islands, the Department of Maritime Affairs (Ministry of Tourism), in partnership with the Turks and Caicos Islands Community College (TCICC) TVET Department and the LJM Maritime Academy – Nassau, Bahamas, successfully delivered the Standards of Training, Certification and Watchkeeping for Seafarers (STCW) training to fifty-nine (59) mariners.

Of this number, forty-nine (49) participants received their first certification, while ten (10) completed re-certification, ensuring that the TCI continues to expand its pool of trained and globally recognised maritime professionals.

The Minister of Education, Youth, Sports and Culture, Honourable Rachel Taylor, commended the initiative while congratulating the participants, noting: The Minister of Education, Youth, Sports and Culture, Honourable Rachel Taylor, commended the initiative while congratulating the participants, noting:

Personal Survival Techniques Training

“Today we celebrate not only the certification of fifty-nine men and women, but also the strengthening of our nation’s human capital. This milestone affirms that our investment in Technical and Vocational Education and Training (TVET) is yielding results, creating real opportunities for our people in high-demand global industries. STCW certification ensures that Turks and Caicos Islanders are not only employable, but also competitive on the world stage, equipped with skills that meet the highest international maritime standards. I am particularly proud that this training was delivered here at home, reducing barriers to access and affirming our commitment to expanding local capacity in alignment with the Blue Economy. To our graduates, I charge you to use this certification as a launchpad whether in tourism, fisheries, environmental management, or private enterprise and to represent the Turks and Caicos Islands with professionalism, discipline, and excellence.”

This training represents the Government’s continued commitment to aligning with global maritime conventions and advancing the Turks and Caicos Islands’ Blue Economy through the development of skilled local capacity. Participants represented a wide cross-section of both public and private entities, including the Turks and Caicos Ports Authority, Department of Maritime and Shipping, Marine Police Branch, Amanyara Resort, Beaches Resort, Southbank, Department of Environmental and Coastal Resources, Department of Fisheries and Marine Resource Management, and several private charter companies.

Honourable Zhavargo Jolly, Minister of Tourism, Agriculture, Fisheries, Heritage and the Environment, echoed Minister Taylor’s sentiments, adding: “This milestone speaks to the direction we are taking as a country. By equipping our people with internationally recognised STCW certification, we are strengthening maritime safety standards, while more importantly opening doors for Turks and Caicos Islanders to take their place in the global maritime economy. Whether starting their own marine based businesses or serving on private yachts within our own ports, this training ensures our people are prepared, competitive, and respected at the highest levels.

I want to commend the Department of Maritime and Shipping, the TCICC team, and our partners at the LJM Maritime Academy for making this opportunity possible here at home. Most importantly, I congratulate the 59 mariners who have completed this training. You are pioneers of the new blue economy we are building, and your success sends a powerful signal: Turks and Caicos Islanders are ready to lead, not only locally but internationally.”

Through this specialised programme, participants gained critical instruction in the following core areas of STCW Basic Training:

  • Personal Survival Techniques (PST) – STCW Code A-VI/1-1
  • Fire Prevention and Fire Fighting (FPFF) – STCW Code A-VI/1-2
  • Elementary First Aid (EFA) – STCW Code A-VI/1-3
  • Personal Safety and Social Responsibilities (PSSR) – STCW Code A-VI/1-4
  • Proficiency in Security Awareness

Established by the International Maritime Organisation (IMO), the STCW Convention sets global benchmarks for the training and certification of seafarers. It ensures that all personnel working on ships are equipped with the knowledge and skills required to operate safely, respond effectively to emergencies, and carry out their duties in accordance with international maritime standards.

In this context, the initiative aligns directly with the Turks and Caicos Islands’ national maritime development strategy, supporting the growth of a robust and compliant maritime industry, expanding employment opportunities for local seafarers, and enhancing the country’s reputation as a responsible, safety-conscious jurisdiction.

The training was conducted at the TCICC Campus from Tuesday, 19 August to Saturday, 23 August 2025, under the leadership of the LJM Maritime Academy, Nassau, Bahamas, with instruction provided by Captain Clayton Delaney and Mr. Kermit Turnquest (Chief Petty Officer, Royal Bahamas Defense Force).

Chairman of the Board of Governors of TCICC, Mrs. Sheba Wilson, commended the team for the successful execution of the course, stating, “The inaugural STCW training exemplifies TCICC’s unwavering commitment to aligning education with the needs of our nation. By certifying 59 participants, we are not only strengthening workforce readiness but also empowering our people to uphold the standard of excellence that continues to define the Turks and Caicos Islands as a premier tourism destination.”

In remarks delivered on her behalf, Dr. Candice Williams, President of TCICC, highlighted the broader significance of this milestone:

You join a growing network of skilled professionals ready to elevate maritime standards, drive responsible operations, and lead with integrity on every horizon, shore and sea. This certification opens doors to diverse, high-impact roles and sets a powerful example for others to follow.

The TCICC President also issued a charge to participants, “As you celebrate this milestone, seize every chance to deepen your skills, pursue additional credentials, and contribute to a thriving and sustainable blue economy. The Turks and Caicos Islands Community College is committed to supporting your journey every mile along your blue-economy journey.”

The Department of Maritime and Shipping and the Turks and Caicos Islands Community College (TCICC) expressed satisfaction with the training’s outcome, proudly noting a 100% pass rate among participants. This achievement reinforces confidence that the newly certified mariners will continue to represent the Turks and Caicos Islands with distinction, professionalism, and the highest maritime standards. The STCW certification initiative signals a new era for Technical and Vocational Education and Training (TVET) in the Islands, creating pathways for young people and professionals to gain globally recognised skills without leaving the country.

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