Connect with us

Bahamas News

Minister Thompson optimistic about the future of Grand Bahama

Published

on

#GrandBahama, June 5, 2018 – Bahamas – “I am optimistic for the future of Grand Bahama, even in the face of the recent announcement on the increase of Value Added Tax,” said Minister for Grand Bahama in the Office of the Prime Minister, Senator Kwasi Thompson.

“This was necessary to avoid downgrading, necessary to avoid mass firing of employees and necessary to avoid the devaluation of our dollar. After years of kicking these problems down the road and trying to borrow our way out of trouble, it was time to make the hard, but necessary decisions.”

Minister Thompson was the keynote speaker at the 2018 Bahamahost graduation, which was held on Thursday, May 31, 2018, at Calvary Temple Church. Some 280 people made up this year’s graduating class, one of the biggest classes in the programme’s history in Grand Bahama.

Minister Thompson told the graduates and their guests that he chose to be optimistic about the future of Grand Bahama, even in light of some of the challenges it presently faces. Such optimism, he said, lies in the fact that there has been an increase in foreign direct, and domestic, interests over the past year in Grand Bahama.

“I’m optimistic by the re-opening of the Goombay Land Amusement Park, where there is expected to be some 20 people hired; I’m optimistic about Grand Bahama because we have seen the local investment by Fowlco, a Bahamian Marine logistics company that has hired 17 people.

“I’m optimistic about Grand Bahama because we have seen the expansion of companies like Omni Financial that has hired some 10 people; companies like Carnival Corporation, Ocean Medallion that have trained and hired Bahamians to create and to configure cutting edge technology for Carnival Cruise Line; I’m optimistic because we have seen companies like the Wind River Tobacco company invest in Grand Bahama and hire 20 Grand Bahamians.

“I’m optimistic about a major fabric company out of Nassau that will be opening doors here in Grand Bahama in a few months and who will be hiring Grand Bahamians to work; I’m optimistic because a Bahamian-owned food store is embarking upon a multi-million dollar expansion here in Grand Bahama, and construction has already begun.

“I’m optimistic about Grand Bahama because once stalled major projects have been restarted, like the Seaward Fishing Village and the PharmaChem expansion project. I’m optimistic about Grand Bahama because more such projects are coming on stream and are expected to once again boost the economy of Grand Bahama.”

Minister Thompson said that he is very optimistic about the future of tourism in Grand Bahama, particularly as the Government moves closer to closing the deal on the Grand Lucayan Resort and as plans go into effect to begin renovation on the property.

He said that the former Ginn Project has also been revived and the new owners have committed to hiring 200 people in their first year of operation. The Grand Bahama Minister said that there are some other projects scheduled to come on stream in Grand Bahama, but because they are still in the early stages, he was not at liberty to disclose the details of those projects as yet.

“But if you sat where I sit, you too would be optimistic about what is going to happen in Grand Bahama,” added Minister Thompson. “Even in the face of an increase in VAT, I’m still very optimistic in the future of this island.”

When the announcement that Value Added Taxes was increasing from 7.5 percent to 12 percent was made by the Minister of Finance, the Hon. K. Peter Turnquest, during his recent Budget Communication, a firestorm of social media posts reflected Bahamians’ feelings about the proposed increase.  However, Minister Thompson said he believes that in the end Bahamians would see why it was necessary for the Government to take the position it took on VAT.

“But even in the face of all of that, there are reasons in the recent budget to be optimistic,” added Minister Thompson.

“We’ve made it easier for Bahamians to do business, finding an easier way for Bahamians to start and renew their businesses; we have reduced duty on small vehicles; we have taken Value Added Taxes off breadbasket items and off medication; we have taken the duty off clothes and shoes for those businesses that sell those items and we have allowed for building supplies to be imported duty free, something which many Grand Bahamians are still in need of, as they continue to repair their homes from previous storms.”

A programme to be launched by the government that Minister Thompson is excited about is the new BTVI Scholarship initiative, which he says will help young people obtain the special training needed to take advantage of the expanding job market, particularly in technology subjects.  This programme, which is meant to be a transition from the 32-week job training program, will pay students to attend school and graduate with a degree.

“So, no matter what is going on or how things may appear, I choose to be optimistic about the future of Grand Bahama,” said Minister Thompson. “So I encourage you new Bahamahost graduates to join in this optimism, even as you celebrate the completion of this program.

“I want to commend you for your dedication and hard work that has brought you to this point – the graduation. It is an important milestone for you tonight. You have completed the training program and are now equipped with a unique skill set to approach the workforce and to help you ultimately succeed.

 

“Remember, successful people are optimistic people. They are not complainers. They are too busy solving the problem the rest of us are complaining about. So I challenge you to be more focused on finding a solution, than you are on a problem. When you are challenged, do not get bitter, get better.  Nothing worth having ever comes easy; if it came easy, everyone would have it and everyone would do it.

“I congratulate you for being a part of the solution. I particularly congratulate those who already are and who will become entrepreneurs. We must support you, as your success will drive our economy.”

 

By: Andrew Coakley (BIS)

Photo Caption: Minister of State for Grand Bahama, Senator Kwasi Thompson says that in spite of the announcement of a hike in Value Added Tax, he is optimistic about the future of Grand Bahama and sees many great things on the horizon for the island.

 

 

Continue Reading

Bahamas News

New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

Published

on

ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

Continue Reading

Bahamas News

Nassau Opens CDB Annual Meeting at Baha Mar This Week

Published

on

NASSAU, BAHAMAS — Regional policymakers, development financiers, economists and international partners are converging on Nassau this week as the Caribbean Development Bank (CDB) stages its 56th Annual Meeting at the Baha Mar Resort from June 1-5, 2026.

Held under the theme, “Forging the Caribbean’s Future: Strategic Solutions for Uncertain Times,” the gathering is expected to place The Bahamas at the center of discussions on some of the region’s most pressing challenges, from climate resilience and energy security to debt sustainability and economic growth.

At the launch of the annual meeting on March 19, CDB President Daniel Best underscored the importance of bringing together leaders from across the Caribbean and beyond at a time of global uncertainty.

“The Annual Meeting provides a strategic moment for the Caribbean, an opportunity for our leaders, governments, development institutions, private sector, youth, and international partners to come together to identify practical solutions that can help the Region navigate uncertainty while unlocking the opportunities that lie ahead,” Best said.

The conference host, newly named Bahamas Minister of Finance and Chairman of the CDB Board of Governors, Michael Halkitis, also emphasized the significance of the event during the March 19 launch ceremony.

“Today’s gathering marks more than the start of preparations for an important meeting. It represents the beginning of a renewed conversation about the future of the Caribbean, about our shared aspirations, our common challenges, and the partnerships that will shape the path forward for our region,” Halkitis said.

He added: “Hosting the 56th Annual Meeting of the Caribbean Development Bank here in Nassau provides an important opportunity to strengthen partnerships and advance meaningful dialogue on the future of the Caribbean.”

Over the five-day meeting, delegates will tackle major issues including energy transition and resilienceinnovative debt solutions for Caribbean economies, and the impact of global economic shocks on regional development.

The programme features a number of high-level events including the Youth FIRE Forum, the William G. Demas Memorial Lecture, the President’s Chat titled Financing the Future: MDB Strategies for Uncertain Times, and a series of policy seminars examining climate finance, infrastructure, economic resilience and development lending.

Among the featured participants are CDB President Daniel Best, Finance Minister Michael Halkitis, senior officials from multilateral development banks, regional finance ministers, central bank governors, economists, development specialists and private-sector leaders. The President’s Chat is expected to bring together leaders of major multilateral development banks to discuss financing strategies for developing states facing mounting economic pressures.

The annual meeting also includes sessions branded “EDGE X by CDB: Analytics Unlocked,” which will explore the economic costs of traffic congestion in the Caribbean and how global crises continue to affect regional economies.

The CDB Annual Meeting traditionally attracts representatives from the Bank’s 28 member countries, including government ministers, senior public officials, development agencies, international financial institutions, youth delegates, academics and private-sector stakeholders. Hundreds of delegates are expected to participate in discussions that will help shape development priorities and financing strategies across the Caribbean in the years ahead.

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

Continue Reading

Bahamas News

Afreximbank Annual Meetings Return Next Month; Caribbean Links Remain in Focus

Published

on

May 29, 2026 – Two years after The Bahamas made history as the first Caribbean nation to host the African Export-Import Bank’s Annual Meetings, thousands of delegates are expected to gather in Egypt next month for AAM2026.

The 33rd Afreximbank Annual Meetings will be held from June 21-24 in El Alamein, Egypt, under the theme: “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty.”

The event is regarded as one of Africa’s most important gatherings on trade, investment, finance and economic development, bringing together heads of state, policymakers, business leaders, development finance institutions and international partners.

For Caribbean nations, the meetings hold special significance.

In 2024, The Bahamas welcomed thousands of delegates to Nassau for the landmark event, marking the first time the annual meetings were staged outside the African continent and placing the Caribbean at the center of growing discussions on Africa-Caribbean trade and investment.

Since then, Afreximbank has continued to expand its engagement in the region, promoting stronger commercial ties between Africa and Caribbean countries and exploring opportunities in trade finance, infrastructure development, logistics, investment and private sector growth.

Organizers say this year’s discussions will focus on strengthening intra-African trade, advancing industrialization, building regional value chains and increasing economic resilience amid global uncertainty.

The meetings are also expected to provide a platform for new partnerships, investment opportunities and development initiatives that could have implications beyond Africa, including for Caribbean nations seeking to deepen economic cooperation with the continent.

As leaders prepare to convene in Egypt, the Caribbean’s growing relationship with Afreximbank remains a key part of the institution’s broader vision of expanding trade and investment connections across the Global South.

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

Continue Reading

FIND US ON FACEBOOK

TRENDING