The Tribune

By FAY SIMMONS

jsimmons@tribunemedia.net

ELEUTHERA’S Chamber of Commerce president yesterday urged the Bahamian private sector to lead the discussion on the investments necessary to build a thriving national economy.

Thomas Sands said: “We believe that, as a group, it is very important that we, as business owners, and as an organisation, remain part of the discussion and we not only be a part but we help lead the discussion. We partner with our stakeholders, the Bahamas government, the investor, the visitor, the infrastructure that’s necessary to build an economy, and build an environment that is conducive to successful growth and participation by Bahamians as well as international investors.”

Mr Sands, a member of Campbell Shipping’s Board of Directors, said a visit to the company’s offices in Mumbai, India, led him to consider what is necessary to propel Bahamian businesses to be global players. “The level of service and innovation, the assets that The Bahamas has in relation to these locations, and understanding, you know, beginning to end analyse what is our niche, where do we best step, what are we not good at?” he said.

“What do we outsource but also, you know, as I travelled and saw all of this investment in different locations, you also measure why is that investment taking place in Eleuthera? Why are these global companies investing in The Bahamas? What do they see as the potential here? And, in turnkey, what is the expectation? What is it that do we have to deliver? How do we compare to these locations? So, I think there is a global discussion about the world that exists today.

“There is a global discussion about why is investment taking place in The Bahamas. And I think there’s another question: What do we need to do as a people to be world players, and meet the expectations and not only making a living, thrive and be successful in our own country as this global investment takes place. But also reach out to resources that are available in other countries, that are available through connectivity, through collaboration, to better the product that we have.”

Mr Sands referenced two new developments, the Disney Lighthouse Point cruise destination and the Ritz-Carlton Reserve resort, which will provide new economic opportunities for Eleutherans. He also noted the interest that developments have in local products, presenting a range of opportunities for Bahamian entrepreneurs.

The Chamber chief said: “Because of the investment that is taking place, I think there’s a broad range of opportunities. Some of it will be in the service sector, some of it will be as vendors. But there are definitely opportunities where these developments have to be serviced.

“They want authentically made, authentically grown products, or authentic manufactured products or processed products. And so I think there’s a wide audience, or a wide range of opportunities, for Bahamians, for Eleutherans, especially if there’s a way in which you could put your stamp and your name on that product and its unique offer.

“And again, that is not limited to even a food product or a craft product. I’m sure when we look at the list of investors there’s Disney Cruise Line putting $400m into Eleuthera, Tarpum Bay Holdings coming with a Ritz-Carlton Reserve product. I’m hearing by the end of the year they are supposed to start construction. You’re talking about a very diverse opportunity over the next three to four years in the island of Eleuthera if we would just pick those two projects.”