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True Entrepreneurial Revolution needs More MONEY for MSMEs says Missick

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By Dana Malcolm

Staff Writer

#TurksandCaicos, December 9, 2022 – The grant amounts for TCI businesses under the Micro, Small and Medium Sized Enterprise Development Ordinance are not enough to properly boost businesses in the TCI.  This is the perspective of Akeirra Missick, Member of Parliament as she gave contribution in House of Assembly on the change to the ordinance.

The changes, seen as a significant feather in the cap of PNP Administration accomplishments, now expand the categories of businesses which would apply for grants and increased the grant monies available to the new and existing businesses.

Still Missick detailed why the cash amounts were less than ideal and how the bill could be strengthened.

“If you are described as a micro business, that $5,000 in technical assistance will not get you very far so imagine if you are a medium sized enterprise.  Being a practitioner in the enterprise where we help businesses establish themselves, $15,000 is just the bare minimum for a staff handbook,” she explained

The sums to which Missick was referring are the technical assistance grants offering $5,000 for micro, $10,000 for small, and $15,000 for medium businesses.  There were also cash grants set at  $10,000 for micro, $20,000 for small, and $30,000 for medium enterprises in addition to customs duty reductions.

“We’re looking at saying we are assisting Turks and Caicos islanders as entrepreneurs through the technical assistance but from a practical standpoint the figures are actually lower than they should be.”

While acknowledging that the government had done an exceptional job providing funds to successful business already and  it was not the government’s responsibility to fund business from idea to execution she urged the Executive to reconsider the amounts especially since the money was available.

“Given that since the inception of this program in 2016 the actual budget allocation has never been exhausted – we are talking about some seven years where funds have never been exhausted in this program. The values may be too low to achieve the vision and the mission that the Minister of Finance has.”

The MP for Leeward and Long Bay said the same was true for the cash grants, they needed to be higher especially considering that these new categories of businesses who could apply would need specialized employees and private sector rates were very high.

“I commend invest TCI and the Minister of Finance for broadening the scope– but if you have an idea and you’ve been able to save $10,000 and you need to bring in an surveyor– and you are unable to recruit locally [these sums] will put you on the back foot in getting in that person’ she said “unless this bill has a follow up from the employment services department looking at reducing work permit fees for these specialist categories the grant you’re looking at getting from Invest TCI is just going straight back to TCIG.”

She explained that while the sums sounded good for new businesses developing handbooks and hiring financial officers etc, it simply was not enough.

“Albeit a very good start the figures are still a bit too low to really genuinely bring about revolutionary change we are seeking in these islands in entrepreneurship.”

The amendments were laid in a parliamentary sitting on December 1, 2022.

Bahamas News

Sister Province/Island Relationship Agreement Signed between Grand Bahama Island and Hunan Province

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By LLONELLA GILBERT
Bahamas Information Services


NASSAU, The Bahamas — A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province.

The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024.  The Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama represented The Bahamas at the signing.

His Excellency Mao Weiming, Governor of Hunan Provincial People’s Government; Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; and Yang Peiran, Interpreter represented the People’s Republic of China.

Minister Moxey explained that in February 2022, she and the former Chinese Ambassador to The Bahamas, Her Excellency Dai Qingli began discussion on the establishment of a province-island relationship between Hunan Province and Grand Bahama Island because of their “immense synergy”.

“Hunan has a vibrant creative industry and its capital city, Changsha is known as the entertainment capital of China, whilst Grand Bahama is poised to become the home of entertainment in ‘Our Bluepoint for Change’.”

She said Hunan Province boasts 11 industrial sectors and Grand Bahama is the industrial capital of The Bahamas.  Further, innovation driven development has been a new driving force for Hunan, while Grand Bahama is poised to become the home of innovation for The Bahamas.

Minister Moxey said she is confident that an exchange of knowledge, ideas and culture will happen between the residents of Hunan Province and Grand Bahama.

“There is potential for robust trade in various sectors, opportunities for tourism promotion and intercultural appreciation, exchanges to support performing arts programs on our island, foster growth within the Orange Economy, and tap into China’s innovation, technology and vast expertise.”

She said that the formal signing aligns with the mission of Sister Cities International, which is to promote peace through mutual respect, understanding and cooperation, one community at a time.

The Minister said, “Through collaborative programs and initiatives, this connection will support the government’s vision to diversity Grand Bahama’s economy to become the Home of Maritime and Logistics, Home of Events and Entertainment and Home of Innovation.”

She noted that in addition to signing the agreement, she looks forward to Grand Bahama residents benefitting from the signing of the Cooperation Memorandum of Understanding between Central South University and University of The Bahamas (UB), which will expand educational and technical cooperation between the two universities.  The northern campus of UB is located in Grand Bahama.

His Excellency Mao Weiming said although geographically far apart, China and The Bahamas are friends with mutual respect and understanding as well as sincerity.

He explained that 27 years ago, both countries established diplomatic relations and China and The Bahamas have deepened their cooperation, strengthened their friendship and carried out many activities in the field of economy, trade and people-to-people exchange.

His Excellency recalled that in August 2022, he and Prime Minister and the Minister of Finance the Hon. Philip Davis had a video conference where they both reached a consensus to cooperate in order to usher a new chapter in the relationship between Hunan and The Bahamas.

“Today, we are here to sign a sister-to-sister relationship between Hunan and Grand Bahama.  It is [a] concrete move to implement our consensus reached before and also to embark on a new journey of friendly exchanges.”

He added, “By establishing the relationship of sister cities, I believe the two sides will develop further in terms of economic and trade cooperation, people to people exchange, as well as friendship, and we will embrace new opportunities and deliver concrete benefits for the two peoples.”

He explained that Hunan, which is the home town of Chairman Mao, the founder of the People’s Republic of China, has developed very advanced industries of manufacturing, agriculture, education, culture as well as tourism.

His Excellency said he believes that Hunan and Grand Bahama enjoy very broad room for cooperation.

He said, “More efforts should be made to conduct cooperation in the fields of agriculture, tourism, culture, education and the film industry so as to realize a connectivity between our two sides in terms of logistics and the platform cooperation; so as to deliver concrete benefits for the people and to make our due contribution to the bilateral relationship between China and The Bahamas.”

 

PHOTO CAPTION

A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province.  The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024.  Shown from left: Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; Yang Peiran, Interpreter H.E. Mao Weiming, Governor of Hunan Provincial People’s Government; the Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama.

(BIS Photos/Anthon Thompson)

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Bahamas News

Nassau Cruise Port Donates Nearly $2 Million Towards Food Security  

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Nassau, Bahamas: The Nassau Cruise Port has donated $1.95 million towards projects that will assist the Ministry of Agriculture and Marine Resources in its aim to increase food security for The Bahamas.

The donation officially occurred at the Ministry’s offices recently, where Minister of Agriculture and Marine Resources Hon. Jomo Campbell, Minister of Labour Hon. Pia Glover-Rolle, Permanent Secretary Neil Campbell and Nassau Cruise Port CEO Mike Maura listened to a number of presentations including one for a poultry programme for schools, a chicken broiler production programme, the redevelopment of the Blue Hill Road Farmers Market and an Authentic Bahamian Cultural Concept Store,

Mr. Maura said he was impressed by the presentations.

“I had the privilege to listen to the presentations  and review presentations that touched on food security and the need for us to be self-sufficient, which as a Bahamian I support completely. At the Nassau Cruise Port, we get excited about the prospects of offering more authentic food to the millions of visitors that we have each year,” he said.

“And then, in addition to that, we had presentations around the further development of our artisans, which is so important to us as well.  The guests visiting our shores are looking for something that really touches The Bahamas and can’t be found somewhere else. The Nassau Cruise Port has made a pledge to BAIC and its affiliates. We will be supporting the projects that were presented and we can’t wait to get started.”

Minister Glover-Rolle, who is also the Member of Parliament for Golden Gates, hailed Nassau Cruise Port as a “great community partner.”

“Thank you for the opportunity to not only present but agreeing to participate. Our Minister of Agriculture has a goal of reducing food imports by 25 percent by the year 2025 and our project in the Golden Gates Community speaks to that,” she said.

“We have a number of backyard farmers, farmers and fishers in our community in Golden Gates. Being able to use the Blue Hill Road Farmers Market, which is going to be dubbed the ‘Fish Fry of the South,’ as a hub for food security but also a hub where artisans and handicraft persons can come and sell their wares is wonderful. So, we are happy that you have agreed to partner with us and we look forward to a partnership and we hope to welcome some of your visitors when this amazing renovation is done.”

Minister Campbell also lauded the Nassau Cruise Port for its efforts.

“I would like to say thank you to the presenters for the presentations that are several steps in the right direction for our country, to Mr. Maura and his board at the Nassau Cruise Port and I would like to say thanks to God for this partnership and bringing us all together as we move forward, upward, together in building a better, brighter, future for The Bahamas,” he said.

 

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Caribbean News

Agriculture Ministry Providing Two Water Trucks to Serve St. Elizabeth and St. Catherine

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#Kingston, Jamaica, April 24, 2024 – The Ministry of Agriculture, Fisheries and Mining is to unveil two more water trucks this week, which will be used to service communities in St. Elizabeth and St. Catherine.

Portfolio Minister, Hon. Floyd Green, made the disclosure during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.

He also informed that of the $90 million earmarked to support farmers being impacted by the current drought, the Ministry will be providing additional support for storage and drip-irrigation systems.

“So, we have targeted about 600 water tanks and about 400 12-millimetre drip irrigation hoses, and that distribution has already started. Additionally, we have earmarked about $8 million to really help with our livestock farmers,” Mr. Green said.

“We know the difficulty that you’re facing now in this time; [it’s] very hard to get the right nutritional support for your animals. As such, we will be providing some hay, and we will [also] provide some trucking of water to you. Again, our livestock farmers, if you are in need, please contact the Rural Agricultural Development Authority (RADA) and let us see how we can help in these times,” he further stated.

Mr. Green also encouraged farmers to download the RADA App, so that the Agency can “help guide you, not only in relation to what is happening on the rainfall side, but also in relation to your integrated pest management”.

“We do see some increases of certain types of pests during this time, and it’s important that our farmers are paying attention to that. It’s also important that you’re taking drought management seriously [by undertaking] soil mulching, looking at planting drought-tolerant crops, timely harvesting, implementing land husbandry treatments and contour ditches,” he stated.

Contact: Latonya Linton

Release: JIS

 

Photo Caption: Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green, speaking during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.

 

Donald De La Haye Photo

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