The Tribune

A senior Grand Bahama Port Authority (GBPA) executive has presented Freeport’s potential advantages as an assembly and distribution hub to a global audience.

Derek Newbold, the GBPA’a business development manager, was one of the featured panellists in a forum on business development and sourcing in emerging markets at the recent 21st SourceDirect & ASD Trade Shows and Conferences in Las Vegas.

Mr Newbold said the panel included a number of international business experts such as the senior director of Sandler, Travis & Rosenberg, the founder and chief executive of Stigmare, and the managing director at Source2B.

“My contribution addressed a number of pertinent issues relevant to the supply-chain, value addition and distribution industries, which allowed me to emphasise the strategic advantages of utilising Freeport, a free-trade zone strategically positioned just 60 miles east of North America, as a distribution platform for the region,” MrNewbold said.

He added that the three-day event hosted manufacturers, distributors and buyers of thousands of products from across the globe, many of which could greatly benefit from the advantages of Freeport.

Mr Newbold said the GBPA team built alliances with Hong Kong Trade Development Council, World Federation of Overseas Korean Traders Association, India’s Export Promotion Council for Handicrafts and Colorado Chinese Chamber of Commerce.

“As a result of GBPA’s continued promotional efforts, it is an unquestionable fact that our jurisdiction is gaining greater recognition and we are now being included in discussions in any number of Boardrooms focused on expansion into key regional markets,” Mr Newbold said.

Emphasising the importance of the Invest Grand Bahama Unit’s efforts, GPBA president, Ian Rolle, said it continues to dedicate the resources and research efforts essential to attracting viable investments to Freeport.

“Industry giants are continually impressed and intrigued when we introduce them to the ‘Freeport Model’ and the dynamics and benefits of the Port Area. In fact, most executives believe that there must be a ‘waiting list’ in order to conduct business here,” Mr Rolle said.

“I believe that such statements clearly demonstrate that we must continue our efforts to promote the awesome advantages of this very special economic zone.”