By KHRISNA VIRGIL
Tribune Staff Reporter
kvirgil@tribunemedia.net
FNM MP Richard Lightbourn has raised concerns over whether the government would sanction the sale of Bahamian retail company Solomon’s Mines to a foreign-based entity.
Speaking in the House of Assembly yesterday, Mr Lightbourn questioned whether the Christie administration had remained true to its campaign slogan of putting Bahamians first, if indeed the company was being sold.
He was responding to a newspaper article with a confirmation that the sale of Solomon’s Mines was a done deal.
“Since the election they have boasted about caring for Bahamians,” Mr Lightbourn said, “to the point where one gets tired of it. Particularly where they show little evidence of caring about Bahamians and putting Bahamians first. So when I read this story in the Guardian, I understood it must have been a recent change in the government’s position that there were certain businesses which were kept for Bahamians.
“So I would ask the government to state clearly what its position is in regard to retail businesses of this nature. Because if there was a firm government position that we do not allow foreign companies to own retail businesses then there should be no discussion in that regard.
“It should not be possible now even though it still requires government approval. The fear is that it could happen. “
But Minister of State for Financial Investment Khaalis Rolle said it was the former FNM administration which amended the policy to allow Bahamian retail business to be sold to foreign entities.
“Up to 2010, the national investment policy was clear.
“In 2010, the Ingraham administration changed the national investment policy to allow foreign operators to operate in the Bahamas.
“Prior to that, foreign nationals could operate specialty restaurants, but now they could operate whatever they want and be in competition with Bamboo Shack.
“They are competing against Burger King. A franchise that came in through a Bahamian.
“Now he is asking a question that clearly he should have the answers to because it was his administration that changed the policy.”
Comments
bahamian242 10 years, 5 months ago
Guess what? It all started with Tiger Finlayson and Burns House, and now he is doing it again with Solomon Mines! He don't care about is own children, he is the African King that would sell his own children into Slavery! Let alone worry about Bahamians, HA!!
Thinker 10 years, 5 months ago
What do we care? Isn't it an average of 8 out of every 10 dollars spent in these Big foreign Hotels goes back out of the country anyway? We seem fine with that, right? Comparatively, Solomon's is pretty small.
BahamianAway 10 years, 5 months ago
A foreigner shouldn't be allowed to own anything in the Bahamas, whether it be property, a restaurant, or a grocery store. But of course money buys anything and everything in the Bahamas.
birdiestrachan 10 years, 5 months ago
Mr.Lightbourn should have been concerned when BTC was given away, and when Cable Bahamas was not sold to Bahamians. He had no concern then. His concern is very late . And like Mr. Symonette his friend would say 'it is small things" indeed. Solomon Mines is small things.
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