The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Opposition’s deputy leader yesterday slammed Fred Mitchell for sending “a very clouded message” to foreign investors, one that said: “Bring your money, and shut up.”

K P Turnquest told Tribune Business that the Minister of Foreign Affairs’ continued public attacks on Baha Mar’s principal, Sarkis Izmirlian, would do nothing to help attract the investment the Bahamas desperately needs to grow its economy.

And he added that the language, tone and location of Mr Mitchell’s comments were “highly inappropriate”, given that he is supposed to be the Bahamas’ chief diplomat and was addressing what was supposed to be an Emancipation Day celebration in his Fox Hill constituency.

“It sends a very clouded message to investors,” Mr Turnquest told Tribune Business, “to both those that are existing, and those that may be considering.

“It says you can bring your money but have nothing to say. I think that in the environment we’re in, foreign direct investment is a very competitive business, and this does not help to attract the investment we need to grow this economy.”

Mr Mitchell lashed out at Mr Izmirlian for his “offensive” comments against Prime Minister Perry Christie in relation to the Baha Mar dispute, and suggested that the Swiss-Armenian investor and his family should consider leaving the Bahamas and move elsewhere if they “cannot conform”.

Just to be sure Mr Izmirlian, got the message, Mr Mitchell quoted sections of the Immigration Act that he said could be used to revoke the permanent residency status of someone who does not behave “in the public interest”.

While failing to explain how this could apply to Mr Izmirlian, Mr Mitchell went so far as to suggest that the Baha Mar principal’s comments would encourage other expatriate investors and managers to treat their Bahamian employees poorly.

“It’s a very disingenuous and irrelevant comment,” Mr Turnquest said yesterday of Mr Mitchell’s latter suggestion. “He would know there is a huge difference between permanent residents and work permit holders.

“There’s a big difference also between investors and employees. The analogy he was trying to make was totally off and inappropriate.”

The FNM deputy leader and finance spokesman also questioned how Mr Mitchell’s comments could aid talks on a negotiated settlement between Baha Mar and its Chinese partners, especially given that the Government’s own attorneys had confirmed to the Supreme Court on Friday that discussions were ongoing and progress was being made.

“As the chief diplomat for the country, the one expected to pursue investment into the country, how is this helpful to that effect?” Mr Turnquest asked of Mr Mitchell’s remarks.

With Standard & Poor’s (S&P) threatening to downgrade the Bahamas’ sovereign credit rating to near-’junk’ status within 90 days if the Baha Mar dispute drags on, Mr Turnquest said Mr Mitchell and the Government would be better off using all financial and diplomatic resources at their disposal to resolve the dispute, and get the development completed and open.

“This continued verbal jousting and games are very counterproductive and, in my view, immature,” Mr Turnquest told Tribune Business.