#TheBahamas – January 14, 2020 — The Government is looking to simplify a number of investment requirements and expedite investment applications for Bahamian and international investors for Abaco, the Abaco Cays, and East End and West End, Grand Bahama, Prime Minister the Most Hon. Dr. Hubert Minnis said today.
“We will
liberalize the process of investment for the affected areas,” the Prime
Minister told hundreds of local and international delegates attending the
Hurricane Dorian Pledging Conference on 13 January at the Baha Mar Convention
Centre.
“Hard
and difficult decisions must be made if we are to rebuild, rebuild quickly,
smartly and with resilience.”
Further
details are expected to be released in the weeks ahead, said Prime Minister
Minnis.
Representatives
of governments, multilateral agencies and financial institutions attended the Pledging
Conference, which is geared towards mobilizing recovery financing for Hurricane
Dorian. It is being held under the theme “Rebuilding a Stronger and More
Resilient Bahamas.”
Abaco
and Grand Bahama reconstruction and recovery efforts are expected to get a
boost from the event, organized by the Government of The Bahamas in partnership
with the United Nations Development Programme (UNDP).
The
Prime Minister said the Conference and other such efforts are an essential part
of the rebuilding process.
The
Government has already prepared specific reconstruction delivery plans, which
have been cross-referenced with the $3.4 billion damage and loss assessment by
the Inter-American Development Bank (IDB) and the United Nations Economic
Commission for Latin America and the Caribbean (UNECLAC).
The
plans focus on housing, the environment and debris clean up, education, health,
infrastructure and the economy. From the reconstruction delivery plans,
specific project concepts have been identified.
“Let me
re-emphasize that private sector, NGO and international contributions must be
aligned with the priority areas of the Government of The Bahamas,” said Prime
Minister Minnis.
The
Prime Minister noted that progress is being made on the ground on Abaco, the
Abaco Cays and Grand Bahama, including the removal of debris and the
restoration of various services.
“Despite
the progress, someone visiting, especially Abaco and the Abaco Cays, these four
months later, will be shocked by the scope and scale of the devastation and the
enormous, complex and many challenges of rebuilding.”
The
Prime Minister emphasized that there is still a “very long road ahead.”