The Government of The Bahamas has made the commitment to establish a satellite office of the Bahamas Investment Authority in Grand Bahama, with the focus of speeding up Investment opportunities on the island.
BIA Office Slated for Grand Bahama
This announcement came from Deputy Prime Minister of The Bahamas and Minister of Finance, the Hon. Peter Turnquest, who was the guest speaker at the Grand Bahama Chamber of Commerce’s monthly luncheon, held on Friday at Grand Lucayan resort.
Minister Turnquest told Chamber members and guests that the establishment of a satellite office of the Investment Authority will be a big step in helping with the economic revitalization of Grand Bahama.
“Hopefully, no longer will you have to submit to the Grand Bahama Port Authority, to the Government, the Ministry of Grand Bahama and submit to the Central Government in order to get things done,” said Minister Turnquest.
Investment Process to be Simplified
“We want to make the ease of investment as simple, and as efficient as possible. So we will have investment offices here on this island to deal with investment proposals for this island.”
Minister Turnquest pointed out that a part of that process does involve the Government working with its partners at the Grand Bahama Port Authority to ensure that they limit the amount of contact necessary by either party, by simplifying and streamlining the requirements, using a single window, one-stop shop kind of approach.
The Minister noted that this would prevent investors from “wasting time chasing one agency or the next.”
Industrial Policy for Grand Bahama a Priority
In taking a closer look at what it will take to revitalize the Grand Bahamian economy, the Deputy Prime Minister noted that his Government seeks to develop an Industrial Policy for Grand Bahama, which will identify potential areas of opportunities and products.
This, he said, is a priority for the Government of The Bahamas.
In fact, he said that they have received impressive investment proposals for Industrial investments for different parts of the island of Grand Bahama.
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