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Magnetic Media stands by its Report as TCIAA issues statement 

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By Dana Malcolm 

Staff Writer 

 

 

#TurksandCaicos, July 7, 2023 – The Turks and Caicos Airports Authority has released a statement defending its decision to develop the Howard Hamilton/Providenciales Airport via a public private partnership referencing reported hysteria, they say, was prompted by a report from the Magnetic Media News team on July 2, 2023 after residents reacted to the news.

Magnetic Media stands resolutely behind its report; rejecting any notion that the information contained within was or is inaccurate.

The facts contained in said report came directly from the TCIAA, by their own admission, in their May 25th statement titled, “UK GIVES GREENLIGHT TO HOWARD HAMILTON INTERNATIONAL AIRPORT REDEVELOPMENT PROJECT,” regarding UK approval to move forward with the redevelopment and engage in a public private partnership of their choosing.

The Magnetic Media news team printed that statement in full on May 29th; giving it also front page billing in our e-newspaper, The Magnate.

On June 16th, Cabinet revealed they had also greenlighted the project in a June 14th meeting which prompted a Magnetic Media report containing these facts, as shared by the TCIAA.

As investors expressed aggressive interest in partnering with the TCIAA, The Authority did extensive consultation with stakeholders in the aviation industry regarding the redevelopment of the airport, before deciding that a PPP was a viable option.

“In the last quarter of 2021, the Government received various unsolicited presentations for the redevelopment of the Airport, all of which varied in size of scope and proposal, making it abundantly clear that a consultancy was required to present the best options,” the statement said.

They then presented a business case to the UK asking for approval to move forward with the PPP as referenced in their May 25 statement.

While the exact terms of that PPP contract are yet to be determined or released to the public, the TCIAA and the Government made it clear in the joint statement they were ready and willing to share both the risk and the reward for the redevelopment with a private partner.

“Under the proposed program, the TCIAA will retain ownership of the Airport with a maximum 30-year period for the funding/payback arrangement. It is envisioned that through a meticulously designed and executed procurement exercise involving a pre-qualification stage, a renowned international airport operator could be engaged for the operation and maintenance of the Airport, while the construction of the terminal will be via a local investor or a consortium thereof,” they said.

Despite the finer details having not been released, the public was informed by the Authority that the PPP would see significant investment from whichever  private partner they choose, which will be repaid over time.

“There will be no impact on TCIG’s debt status. TCIG’s remuneration would result from a structured revenue share scheme or dividend repayment policy depending on whether the project is structured as a PPP or developed with Public funding/financing,” the statement conveyed.

Both Washington Misick, TCI Premier and Arlington Musgrove,  Minister of Immigration went on record expressing confidence in the upcoming plans, and Cabinet has approved the TCIAAs plans allowing the Board to now decide on which partner they will choose to complete the redevelopment going forward.

Musgrove himself maintained that the PPP was not a matter of money.

“The TCIAA and TCIG want the public to know that the decision to pursue a PPP program for the redevelopment is not premised on a situation where the TCIAA and/TCIG cannot self-fund the project,” said Hon. Musgrove, who continued with, “The decision to pursue a PPP is premised on a ‘big picture’ understanding and approach to value for money and the benefits which can be achieved for the greater social good.”

The Authority says its statement defending the PPP was prompted by the public’s reaction to the news.

While the TCIAA has routinely consulted stakeholders on the matter of the redevelopment before making the decision to enter into a PPP, the public has not been afforded the opportunity to have their questions regarding the major redevelopment answered as all communication has come in the form of static statements, not press conferences.

Magnetic Media is committed to true and fair reporting and bears no responsibility for, nor can the team control, or seek to sway, the reaction of the public to facts.

All facts in the report came directly from the TCIAA and Government officials.

Bahamas News

Freeport Business Expo to connect Grand Bahama businesses and entrepreneurs to expert resources  

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Grand Bahama Port Authority, Limited

 

 April 29, 2024 – Freeport, The Bahamas – In line with its mission to create a stronger, more connected Freeport economy, the Grand Bahama Port Authority, Limited (GBPA) is pleased to share details of the upcoming Freeport Business Expo: Tourism Edition, taking place on Thursday, May 2, 2024 at the Grand Lucayan Convention Center in Grand Bahama.

“As the GBPA continues its work to attract investors to Freeport, we offer this showcase of local and international businesses offering services and opportunities to potential and existing licensees,” stated Ian Rolle, GBPA President. “This Expo will not only connect unique international service providers with Bahamian entrepreneurs aiming to introduce new tourist attractions, but also bring together financing institutions to support Bahamian-owned start-ups and existing businesses in the industry.”

The emphasis on tourism at the 2024 Expo ensures that those in tourism-focused businesses are certain to benefit. The event will offer opportunities to meet potential business partners, gain insight on financial opportunities, engage with leaders in workshops and one-on-one sessions, and get answers on starting a Freeport business and obtaining a GBPA license.

“We regularly host community business expos,” said Glendia Sweeting, Manager of Quality Assurance and Special Projects.  “But we recognize the significant benefit of an expo focused on enhancing tourism business offerings through connecting international service providers and Bahamian entrepreneurs. We have more than thirty local and national exhibitors taking part on May 2nd, along with several international service providers.”

Multiple investment projects currently in progress and planned in the city of Freeport is creating anticipation for existing and potential entrepreneurs and this expo is geared towards preparing them for these opportunities.  “Grand Bahama is going to experience a significant growth spurt in the next one to three years.  I would strongly encourage everybody who wants to get involved in business to look at Grand Bahama as one of the top choices, especially over the next three years,” said Mr. Rolle.

The Expo opens on Wednesday, May 1st with a welcome reception from 6:00 p.m. to 8:00 p.m. A full day of learning and networking opportunities follows on Thursday, May 2nd. GBPA’s partners in the Freeport Business Expo include:

  • Grand Bahama Island Promotion Board
  • Ministry for Grand Bahama
  • Grand Bahama Chamber of Commerce
  • Ministry of Tourism
  • Bahamas Immigration
  • Bahamas Customs
  • Five Star Shipping Company
  • Viva Wyndham Fortuna
  • Bahamas Air
  • Grand Lucayan Hotel

Registration for access to the Expo’s exhibitors is free, and all-access passes are available for purchase. Event details and registration information may be found at freeportbusinessexpo.com.

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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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