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Government Looking to Break Barriers and Provide Mechanisms to Support Business

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#Bahamas, September 25, 2017 – Nassau – Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said the theme of this year’s Eleuthera Business Outlook, “Breaking Barriers: Promoting Success” was both appropriate and timely.

“Appropriate in the sense that for me and the government it is important to break barriers by streamlining and – where necessary – eliminating government bureaucracy in order to progress or move forward and achieve economic well-being.

“And timely, in the sense that it is my administration’s goal to create a modern Bahamas by promoting success through improving the public and private mechanisms that support business access to capital and expertise,” DPM Turnquest said at the Forum in Eleuthera, Thursday, September 21, 2017.

“It is indeed that in recognition of these facts that the Government views as one of its roles, providing an environment that would facilitate the full participation of Bahamians in the local economy.”

He added that a government’s ability to facilitate businesses, which is the ease of doing business, is directly correlated to its Gross Domestic Product.   The DPM said in the World Bank’s 2017 Doing Business ranking, the Bahamas stands at the 122nd place in a list of 190 nations.    He noted that it is a dismal ranking for a country like The Bahamas with such opportunity, talent and potential.

“This report and other reports of a similar nature provide potential investors with information on the efficiency of the countries’ institutions in starting and closing businesses, issuing licences, labour relations, property rights, credit policies, exchange control restrictions, and enforcing legal rights.”

He added that these publications also serve as a guide to countries in improving their own investment climate and competitiveness.

“For The Bahamas perhaps it is that we had become complacent, assuming that our investment climate was the best in the region given our relative success in attracting foreign investment and maintaining a stable economy.

“But the truth is that – and as all of you who run a business would know – we need to do better and we must do better. We have to accept that in many areas urgent improvement is needed.”

DPM Turnquest explained that according to the International Monetary Fund World Outlook, The Bahamas is forecasted to grow by 1.75 per cent in 2017 and 2.5 per cent in 2018.   He said, however, that growth will not happen and be sustained if the government does not do its part in breaking barriers and promoting success.

“In fact a country cannot progress without undertaking the reforms that lead to better business conditions. These reforms are critical to achieve better living standards, moderate inflation, low-inflation uncertainty and high-growth rate.”

The DPM explained that employing the principles of sound macroeconomic management such as small deficits, manageable government debt, increased investment both domestic and foreign, an improved business environment, stronger infrastructure, and a more educated, sophisticated workforce is necessary for the country to sustain high growth and to become strong.

“The government reaching back to the 1970’s has consistently provided special incentives and encouragement to Bahamian entrepreneurs through various government agencies and by the passage of special incentive legislation.

“The establishment of The Bahamas Development Bank, The Bahamas Industrial and Agricultural Corporation together with the enactments of the Agricultural Manufactories Act, the Spirits and Beer Manufactories Act, the Industrial Encouragement Act and the Family Island Incentive Acts, have all provided a range of incentives to local entrepreneurs.”

He said in various ways and to varying degrees, these mechanisms have had some success.

“However, we recognize that we need to update the facilities that exist to aid small businesses and Bahamian businesses generally.  And we need to consolidate and improve access to these mechanisms so that Bahamian entrepreneurs get timely and effective support.”

By: Llonella Gilbert (BIS)

 

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Twist To Win Ends in a Grand Style with Four $5,000 Mall at Marathon Shopping Sprees  

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Twist To Win grand finale winners (l-r) Brian Bethel, Taraceta Neely, Ashia Demeritte and Merlin Adams posing along with their winnings from the shopping spree.

NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.

The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.

With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.

Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.

Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.

Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!

After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.

The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.

At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.

Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.

Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.

The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.

Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.

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 The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival  

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival.                                                                                                                                                                              Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.

As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.

Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole, with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’.                                                                                                                                                                                                                     Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.

Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.

Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the listening booth.

Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.

For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!

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CWS Brings a Galore of Bubbles at Annual Jollification Festival  

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Caribbean Wines & Spirits team members smiling behind one of the company’s two bars at Jollification

NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.

Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.

The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members.  Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.

Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine.  To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.

On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking in the comfort of the chic lounge.  In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.

The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.

Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.

To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.

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