The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Bahamas is “well positioned” to capture a significant amount of foreign direct investment, according to Minister of State for Investments Khaalis Rolle, who noted that the recent Bahamas International Investment & Business Forum (BIIBF) had generated a “tremendous amount of activity”.

“There are a number of follow-up conversations taking place with individuals that have the potential for investments” said Minister Rolle, speaking on the conference which was held at the Grand Lucayan Resort, Freeport last week.. “There’s a group that wants to do a medical school, there are alternative energy proposals and there are persons who want to benefit from the strategic location Freeport has in shipping.

“There is a tremendous amount of activity associated with the conference. It’s the first one out of the gate. We have defined ourselves as a destination for tourism but we haven’t branded ourselves as a destination for investment,”

Minister Rolle noted that the government has received a significant amount of investment proposals over the past year, the majority of which centre around alternative energy.

“The largest amount of proposals we have gotten over the past year have been in alternative energy, solar, waste and other forms of power generation,” he said.

“I think that’s one of our most expandable opportunity. We have gotten projects in agriculture and resort projects. The projects are coming in and we are just trying to ensure that we have the right mixture and the right quality and the individuals are able to execute what they are promising. We are well positioned to capture a significant amount of foreign direct investment and it will have a meaningful impact on the economy,” said Mr Rolle.

Mr Rolle went on to note that the revamp of the Bahamas Investment Authority was progressing.

“We have brought in some new resources. We are still in the process of changing some of the systems. It’s a laborious process. We have been meeting with the Inter-American Development Bank which will form the basis for the economic and strategic planning unit for the Bahamas Investment Authority and I think that will over a period of time change the direction we are headed in and give us the best results,” said Mr Rolle.