The Tribune

By LAMECH JOHNSON

Tribune Staff Reporter

ljohnson@tribunemedia.net

WELL over $50 million is spent annually by the Bahamas government on consultancy services concerning proposals for heads of agreements, the College of the Bahamas council chairman revealed yesterday.

Speaking at a press conference updating the 2013 presidential search, COB chairman Alfred Sears noted that whether it concerned projects of foreign investors, areas of economic, cultural and social life, the Bahamas relied heavily on services outside of the country.

“We have over 200 of highly qualified faculty members in this institution,” he said, adding that “we would like for the faculty to be the first port of call for advisory services.”

“Every year, the governments spend close to...well over $50 million on consultancy services assisting with the evaluation of proposals for heads of agreements by investors and in all areas of economic, cultural and social life, we rely on the advisory services of consultants from outside of the Bahamas.

“We would like for the government as well as the private sector to use the expertise of COB’s faculty, the faculty of the University of the Bahamas, as we seek to solve issues which confront governance as well as the private sector on a daily basis within our country.”

The call for this change in habit followed after Mr Sears, during his address to the media, emphasised the importance of the research agenda for the college as it transitions to university status.

Mr Sears said that COB had established an “excellent tradition in teaching” and “will seek to achieve an equal level of excellence in the area of research.”

“Research is critical for that is ‘Bahamians solving Bahamian problems’, answering questions and advancing knowledge on all the areas of economy, sociology, anthropology.”

“This area we believe will open another stream of revenue for the institution as universities all over the world with faculty, through research grants, bring in a significant stream of revenue.”