The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

MIAMI, FL - The Government’s decision to enact stem cell legislation is proving to be a “game changer”, a Cabinet minister said yesterday, telling this newspaper that two more US universities had expressed interest in developing medical facilities in the Bahamas.

Declaring that the “floodgates were opened”, with applications to develop stem cell research and treatment facilities coming in weekly, Khaalis Rolle, minister of state for investments, said Penn State and Duke universities had now made inquiries.

Speaking with Tribune Business at the 2013 KPMG Infrastructure Summit, Mrn Rolle told Tribune Business that this nation was positioning itself to tap into a new industry that would not only provide employment opportunities, but have a ripple effect throughout the economy in areas such as tourism.

“In my mind, and based on the interest and feedback we have seen, we have made a policy decision that is a game changer for the Bahamas by enacting stem cell legislation and policy,” Mr Rolle said.

“What happened as a result of that is the floodgates were opened. We have had the University of Miami, Penn State, Duke University and entities of great reputation come to express their interest in developing research and treatment facilities in the Bahamas.”

Mr Rolle said he was unable to quantify how many total applications the Government had received to date, but noted, “They’re coming in weekly.

“For us it provides a twofold opportunity. It helps us to build an industry that will train professionals and will give Bahamians new careers,” he added.

“The level of investment will be good for the economy, but there is also a tourism component. What happens with these treatment facilities is people have to travel, and when they come and get treated they have to stay somewhere, which means more hotel rooms being occupied and more money in the economy.”

The Stem Cell Research and Therapy Bill, which was passed in Parliament last month, provides a regulatory regime covering all aspects of stem cell research, namely clinical research, non-clinical research and therapeutic uses.