The Tribune

ADDRESSING a meeting of the Bahamas Society of Engineers, State Minister for Investment Khaalis Rolle said the government is aggressively seeking new capital to jump-start the economy.

Mr Rolle urged engineers to prepare to take advantage of new opportunities when these efforts bear fruit.

“The government has conducted major investment missions to Europe, Latin America, and Canada. The primary purpose of those trips was to restore the reputation of the Bahamas in those markets.

“Despite the challenging market conditions, to date, investor confidence in the Bahamas remains positive,” he said.

Noting that the traditional focus for the lion’s share of foreign direct investment has been tourism and resort developments, Mr Rolle assured the gathering that the government is determined to diversify the economy moving forward, positioning it for sustained economic growth that will provide expanded opportunities for local skilled professionals.

“Our future outlook,” said Mr Rolle, “is pursuing areas of foreign direct investments to include medical tourism, pharmaceutical manufacturing, agro-industries, food processing, assembly industries and high tech services, tapping into new emerging markets throughout Asia, Latin America and the Middle East.”

Pointing out that foreign contractors do not necessarily deliver more cost effective services, the minister urged the society and its members to “position their firms to take advantage of the opportunities arising from increased levels of foreign direct investments through a number of ways.”


He recommended improving business skills and implementing a pricing system that leads to reasonable and cost-effective proposals that make good business sense.

Mr Rolle said they should increase the visibility of the local talent pool and create strategic partnerships between local firms.

He also recommended the development of cross-border alliances with non-Bahamian companies and encouraged continuous professional development focused on improving both technical skills and business acumen.