The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

MINISTER of State for Investments Khalis Rolle said yesterday that he was very optimistic regarding a number of investment projects currently in the pipeline, telling Tribune Business that these projects varied between sectors such as tourism, agriculture and energy.

Speaking with Tribune Business at a forum hosted by The Bahamas Investment Authority (BIA) and the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC) on local business incentives, namely the Hotel Encouragement Act and the City of Nassau Revitilisation Act, Mr Rolle said: "I'm very optimistic.

"There are a number of good projects in the pipeline covering different sectors such as agriculture, tourism and energy. They now just going through the vetting process and ensuring that we protect the quality of investments coming in to the Bahamas. Investments are there but we want to ensure that we have good quality investments coming to our shores."

Mr Rolle said that legislation like the Hotel Encouragement Act and the City of Nassau Revitilisation Act were important to the development of businesses in the Bahamas.

"It's very important as a business person whenever you're investing to look at whatever you can do to lower the cost of your costs. Certainly you want to do that because what that means is more working capital to do other things, so it's very important to have these type of Acts and incentives in place to ensure the continuity and the robust development of business in the Bahamas."

Mr Rolle, who last week accompanied BahaMar executives in London where the $2.6 billion mega resort unveiled its luxury residences to high-net worth individuals described the trip as very successful. Mr Rolle said: "We were able to look at what is available out there. Despite going through a very difficult period- in Europe that is- I think there is still money available for investment. There were clear indications of that at the meetings we held. At one of the meetings there were 150 of some of the most influential people from Europe, Asia and the Middle East and many were able to purchase property from the Bahamas group then and there. We had a meeting with the Commonwealth Business Council to talk abut hosting an investment and business conference in the Bahamas sometime next year. There is some activity taking place and we just need to direct as much of that to our shores as possible."