Connect with us

Bahamas News

Remarks by Prime Minister Minnis at the Bahamas Blockchain and Cryptocurrency Conference in Grand Bahama

Published

on

#GrandBahama, June 21, 2018 – Bahamas

 

Remarks

Dr. Hon. Hubert A. Minnis, MP

Prime Minister

 of the Commonwealth of The Bahamas

Bahamas Blockchain BBCC 2018

Cryptocurrency Conference

Wednesday, June 20, 2018

Grand Lucayan Hotel

Freeport, Grand Bahama

9:00 A.M.

 

 

  • Senator the Hon. James Kwasi Thompson and other Cabinet Ministers
  • International and local conference participants
  • Distinguished ladies and gentlemen,

 

Today it is my privilege to be in our nation’s second city of Grand Bahama, for the official opening of the Bahamas Blockchain and Cryptocurrency Conference.  This represents an important step towards my government’s new vision for the Bahamas, and a progressive step for the island of Grand Bahama.

Our Government recognizes that in order for our economy to continue to grow we must diversify, and create other opportunities for Bahamians to be successful.

I firmly believe in growing a diverse technology industry sector in the Bahamas, where entrepreneurs, can start and grow new technology companies.  We must also welcome existing global technology players to move their operations to The Bahamas, both of which, will have a meaningful impact on our economy and can be achieved in a relatively short period of time.

Ladies and Gentlemen,

Companies that utilize blockchain technology as a basis for their new products and services represent the genesis of a new wave of solutions that we believe will change the world as we know it.  There is no reason why these new blockchain technology companies that have their eyes on global markets, cannot have their base of operations here in The Bahamas.

We are a sovereign jurisdiction that has been a stable parliamentary democracy for over 250 years.  We believe in the rule of law, and are only 68 miles from the United States.

Ladies and Gentlemen,

My Government is committed to establishing the proper regulatory framework to ensure that incorporating, funding, and operating technology companies that have global ambitions is a relatively easy process.  Significant progress has already been made with the passing of our Commercial Enterprise Act and our ongoing Ease of Doing Business changes and amendments.

Here in the Bahamas, we fully understand that establishing and growing a technology industry sector is not easy, however, the Bahamas is uniquely positioned to quickly become the jurisdiction of choice for technology companies, particularly blockchain technology companies, and FinTech solution providers.

Other software and technology companies inclusive of biotechnology, artificial intelligence, and advanced manufacturing operations can make the Bahamas their home as well, forming clusters that would only serve to diversify and strengthen our technology sector.

We understand that in order to build a thriving technology sector that will benefit our country’s economy in a meaningful way, several key components must be in place, these include:

(i) policies that encourage innovation,
(ii) an educated and motivated workforce with access to higher education and professional development resources,

(iii) a flexible immigration policy

(Iv) and locations and infrastructure that can support population growth, and provide broadband access and telecommunications services that are on par with the rest of the world.

Additionally, in The Bahamas we can provide a quality of work-life balance that is second to none given our ability to offer sun, sand, sea, and cultural experiences that are uniquely Bahamian.

We are well positioned to become the new Silicon Capital of the Caribbean.  Grand Bahama was designed, and has the infrastructure to support 250 thousand residents.  Today it has a population of just over 40 thousand residents.

Broadband connectivity is of the highest quality within the Bahamas, with gigabit networks becoming the norm for both commercial and residential usage.  Grand Bahama is the ideal location in The Bahamas that can support the establishment and growth of a technology cluster of blockchain, and other software companies that can jumpstart the technology industry in The Bahamas.

Recently, my Government announced plans to provide free tuition at the Bahamas Vocational and Technical Institute, which provides degree programs in Information Technology Management, and free tuition at the University of the Bahamas commencing 2019, which also provides various degree programs in Technology.

The Bahamas also has a significant number of financial services, and wealth management firms that can provide investment and advisory services.

Here in The Bahamas, we have all of the available resources, and expertise, to work with both international, and local entrepreneurs, and investors, to build a robust technology sector.

We are pleased that many distinguished international and local professionals in blockchain and cryptocurrency have come to this place at this time to help us tell the world that The Bahamas is taking a deliberate step in building its technology industry sector.

I would also like to welcome the many Bahamians who have joined us with the desire to be the pioneers in this new industry, recognizing that technology will allow us the opportunity to become global players in an industry that is poised for growth.

I do not think it would be too far-fetched for me to say that the next generation of Bahamian millionaires, and possibly billionaires, could earn their wealth in the technology sector.

What we do here at this conference is the first step in that journey: a journey that we cannot accomplish alone, which is why our international friends and partners must play an integral, and important role in all of this.

We welcome you all here to The Bahamas, and look forward to learning from you, investing with you, and laying the foundation to build a technology industry that will benefit all who are a part of it.

Thank you and good morning.

 

Photo Caption: Prime Minister, Dr. the Hon. Hubert Minnis was keynote speaker at the opening of the Bahamas Blockchain and Cryptocurrency Conference at the Grand Lucayan, June 20, 2018.

(BIS Photo/Lisa Davis)

 

Continue Reading

Bahamas News

Caught in the Net, Not Accused of Wrongdoing

Published

on

What the Attorney General must do now to protect Bahamian exports

Deandrea Hamilton | Editor

NASSAU, Bahamas — The United States’ decision to impose a 12.5 percent tariff on Bahamian exports is about more than higher costs for seafood, rum and other goods entering the American market. It is a warning that The Bahamas must move quickly to strengthen or clarify its legal framework governing forced labour and supply-chain enforcement.

The tariff, which takes effect July 24, is part of a sweeping U.S. trade action affecting 60 economies following a review by the Office of the U.S. Trade Representative (USTR). The review concluded that the listed countries have not adequately prohibited or enforced measures against goods linked to forced labour in global supply chains.

The action follows a recent U.S. Supreme Court ruling that invalidated an earlier series of Trump-era tariffs imposed under emergency powers. In response, the Trump administration shifted to a different legal authority—Section 301 of the Trade Act of 1974—using findings from a U.S. Trade Representative investigation into forced-labour compliance to support a new round of tariffs affecting 60 economies, including The Bahamas.

Importantly, the action does not accuse Bahamian businesses of using forced labour. Instead, it reflects the U.S. view that The Bahamas’ legal or enforcement framework does not yet meet the standard Washington expects.

That distinction matters.

The Attorney General’s Office now has the responsibility to lead the country’s legal response. That begins with determining precisely what concerns the U.S. Trade Representative identified, reviewing whether Bahamian law adequately addresses those concerns and, where necessary, recommending legislative or regulatory changes. If deficiencies exist, legal amendments and stronger enforcement could help position The Bahamas for removal from the tariff list.

The government may also seek formal discussions with U.S. officials while those reforms are undertaken, outlining a clear timetable for compliance and demonstrating that the country is committed to meeting international labour standards.

A Nassau Guardian front-page report on July 24 drew attention to the tariff action, prompting broader questions about why The Bahamas was included among the 60 economies affected by the U.S. trade measure and what steps are now needed to restore full confidence in the country’s trade framework.

For many Bahamians, the immediate concern will be the fisheries sector, one of the country’s largest export industries. Commercial shipments of lobster, conch, fish, crawfish and other products entering the United States could become more expensive because of the additional tariff, potentially affecting exporters’ competitiveness.

The broader lesson is that international trade increasingly depends not only on quality products, but also on strong business relationships and confidence in the legal systems that govern them.

For The Bahamas, this is less a finding of wrongdoing than a reminder that international credibility is earned through modern laws, effective enforcement and trusted partnerships. The challenge now is for the Attorney General’s Office to lead a swift legal review, identify any deficiencies and chart a clear path toward compliance so Bahamian exporters are not burdened any longer than necessary.

Continue Reading

Bahamas News

What 45 Shell Casings and New Murder Charges May Mean for Three Officers in the Azario Major Case  

Published

on

By Deandrea Hamilton | Editor

NASSAU, Bahamas (July 16, 2026) — The allegation is as shocking as it is consequential. Prosecutors now contend Azario Major was struck by additional gunfire after he was already dead.  That conclusion has prompted the Director of Public Prosecutions to upgrade the case against three police officers from manslaughter to murder ahead of a judge-only trial.

According to court filings and the DPP’s review of the forensic evidence, prosecutors allege that additional rounds entered Major’s body after death, a finding they say fundamentally changed their assessment of the case and justified the more serious charge of murder.

Investigators recovered 45 spent shell casings at the scene of the Boxing Day 2021 fatal shooting of Azario Major, a striking piece of forensic evidence that has remained central to the case from its earliest days.

Major, 31, was fatally shot by police outside Woody’s Bar on Fire Trail Road on December 26, 2021. While police initially maintained the shooting was justified, the circumstances surrounding the incident were heavily scrutinized during a Coroner’s Court inquest, where jurors ultimately returned a verdict of homicide by manslaughter.

The officers later challenged that finding, but the Supreme Court upheld the Coroner’s Court ruling, paving the way for criminal proceedings. They were subsequently arraigned on manslaughter charges and pleaded not guilty.

The DPP’s decision to elevate the charges to murder significantly raises the legal stakes. Unlike manslaughter, which does not necessarily require proof of an intent to kill, a murder conviction requires prosecutors to establish the legal elements of the more serious offence beyond a reasonable doubt. The prosecution’s case is now expected to focus heavily on forensic evidence, ballistic analysis and the sequence of gunfire during the fatal encounter.

The case is also notable because it will proceed without a jury. Barring further delays, the trial is expected to open on September 14 before Justice Guillimina Archer-Minns in a judge-alone trial, where a single judge—not a jury—will decide the fate of the three accused officers.

The proceedings will determine not only whether the three officers are guilty or innocent of murder, but whether prosecutors’ extraordinary allegation—that Azario Major was struck by additional gunfire after he was already dead—can be proven in court.

Continue Reading

Bahamas News

CARICOM Targets Affordability as Bahamas, TCI Continue to Feel the Pinch  

Published

on

By Deandrea Hamilton

 

Cheaper shipping. Lower energy costs. Better access to healthcare. Stronger consumer protections.

Those are among the measures CARICOM Heads of Government believe could finally begin reducing the stubbornly high cost of living for millions of people across the Caribbean.

Meeting in Saint Lucia, regional leaders agreed that making life more affordable must become one of the Community’s highest priorities. Their emerging strategy includes reducing freight costs through a regional ferry service, accelerating renewable energy projects to lessen dependence on imported fuel, expanding regional healthcare partnerships, strengthening consumer protection, and encouraging governments to adopt successful cost-of-living measures already being implemented across the Caribbean.

“Our discussions over the past four days were guided by one central objective – ensuring that CARICOM delivers results that people can see and feel in their everyday lives,” CARICOM Chairman and Saint Lucia Prime Minister Philip J. Pierre said.

Few places may welcome that relief more than The Bahamas and the Turks and Caicos Islands.

Although inflation has moderated in both countries from the sharp increases experienced following the pandemic, the cost of living remains stubbornly high. Families continue to complain about grocery bills that stretch household budgets, rising housing costs, expensive electricity, healthcare expenses and fuel prices that remain among the highest in the region.

Governments have responded.

In The Bahamas, successive reductions in Value Added Tax on selected goods and other targeted tax measures have sought to ease pressure on consumers. In the Turks and Caicos Islands, the Government this weekend opens applications for its $500 Cost of Living Relief Programme, acknowledging that many households continue to struggle despite the country’s economic success.

Yet affordability remains elusive.

The contradiction is difficult to ignore.

The Turks and Caicos Islands continues to post one of the region’s strongest tourism-driven economies, with robust investment, record visitor spending and sustained construction activity. The Bahamas has also strengthened its economic position, earning improved sovereign credit ratings as tourism, government revenues and fiscal performance continue to recover.

Yet those encouraging economic indicators have not translated into noticeably lower household expenses.

The reason is largely structural.

Both The Bahamas and the Turks and Caicos Islands produce relatively little of what they consume. Food, fuel, medicines, vehicles, building materials and countless household essentials are imported. Both countries also record significant trade deficits, illustrating their dependence on overseas suppliers. Every increase in global shipping costs, fuel prices or supply chain disruptions is eventually reflected in supermarket prices, utility bills and the cost of everyday living.

That is why CARICOM’s agenda matters.

If regional leaders succeed in lowering freight costs through an inter-island ferry network, expanding renewable energy, improving regional cargo movement, strengthening consumer protections and making healthcare more accessible through cooperation, the benefits could extend far beyond government balance sheets.

For Bahamians and Turks and Caicos Islanders, success will not be measured by another tourism record or another credit rating upgrade. It will be measured at the supermarket checkout, on the monthly electricity bill, at the gas pump and in the simple ability to afford a better quality of life.

Continue Reading

FIND US ON FACEBOOK

TRENDING