The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A Government-appointed committee’s recommendations on Freeport’s future will be presented to the Cabinet today, its chairman  Dr Marcus Bethel describing the documemt as “transformative” for the city and Grand Bahama as a whole.

Prime Minister Perry Christie said yesterday that he would formally present the report to Cabinet today for consideration, after being handed it by committee chairman, Dr Marcus Bethel.

“After an intensive 12 weeks of work with a very dynamic and interactive committee and technical staff, we have been able to present a report that we feel is historic in that it addresses issues that affect Freeport and Grand Bahama in general,” said Dr Bethel.

   “I think it’s not only historic but will be transformative for Freeport and the island of Grand Bahama.”

On March 5, the Government appointed a committee comprised of Dr Bethel, a former Cabinet minister; Sir Baltron Bethel, the Prime Minister’s senior policy advisor; former Central Bank governor James Smith; Kevin Seymour, the Grand Bahama Chamber of Commerce’s president; former MP Maurice Moore; and Grand Bahama-based attorney, Cassietta McIntosh, to lead discussions on Freeport’s expiring investment incentives and long-term future, as well as a produce a report and recommendations.

Key provisions of the Hawksbill Creek Agreement (HCA), particularly the Business Licence and real property tax exemptions, are set to expire on August 4.

Mr Christie had previously said the  main objectives of the Government-appointed committee were to agree with the Grand Bahama Port Authority (GBPA) and its principal licensees a long-term economic development plan, which both protects and promotes shipping, industry, tourism, real estate and other commercial sectors.

The committee was also asked to develop a framework for immediate and long-term investment promotion on the island; ensure that mechanisms were in place to align the GBPA’s quasi-regulatory authority with the policies of the Government; and agree a suitable framework for property tax and Business Licenses that will not impede economic growth.