The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT – A major partnership has been launched to attract foreign direct investment to Grand Bahama and better brand the country as an ideal place to invest.

Minister of State for Investment Khaalis Rolle was in Grand Bahama on Tuesday to announce the formal launch of the Bahamas Business and Investment Conference, which is planned for February 20-21, 2013 in Freeport.

The event is sponsored by the Grand Bahama Port Authority, the Commonwealth Business Council and the Bahamas government.

At a press conference held at the Grand Lucayan Resort, Minister Rolle said the conference will help to brand the Bahamas globally.

Mr Rolle reported that in 2011, the Bahamas took in $1.5 billion – more than any other small island developing state – in foreign direct investment.

“As we seek to develop the Bahamas, there are two things I want to highlight coming out of this conference: one is that this is the beginning of branding the Bahamas as a place to invest.

“We had a tremendous amount of activity, but we have never really defined who we are as a destination for foreign direct investment. I think with the help of CBC and all the stakeholders participating, this event will help us to really brand the Bahamas globally.”

“Secondly, the Bahamas is one of those destinations that have so many unique features, and Grand Bahama is one that we wanted to highlight with this conference, particularly the strategic advantage we have here in shipping and logistics.”

Mr Rolle said it is important that the business community jump on board and help define the Bahamas for investors.

Also bringing remarks were Minister for Grand Bahama Dr Michael Darville, Grand Bahama Port Authority chairman Ian Fair, and Peter Longworth of Commonwealth Business Council.

Dr Darville said the forum’s theme – “At the crossroads of 21st century trade and investment” – is timely and appropriate as the country has now reached a point where crucial decisions must be made in order to attract new investment, especially to Grand Bahama, which is considered the country’s industrial capital.

“I am particularly pleased that this forum will take place on our beautiful island, which is strategically located in a free trade zone, and positioned as an important transshipment hub in the western hemisphere,” he said.

Through the collaborative efforts of the government, the GBPA, and the Commonwealth Business Council, Dr Darville said, the forum will seek to raise the profile of Grand Bahama and promote the island as a global shipping and business centre in preparation for the opening of the expanded Panama Canal in 2014.

“The fact that this forum will take place on GBI next year is a testament of our commitment to better the lives of GB and I can assure you that this joint venture with the GBPA is only one of the many planned,” he said.