The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Opposition’s deputy leader yesterday said the proposal for a $2.1 billion Chinese agricultural investment in Andros “raises the alarm” over threat to the Bahamas’ economic sovereignty.

K P Turnquest questioned whether the proposal was a Baha Mar “quid pro quo”, and said: “There is a common saying that if a deal is too good to be true, it usually is.  

“While we do not wish to look a Chinese gift horse in the mouth, we must ask, based upon current history with the PLP and Chinese, what is the quid pro quo?  Is this part of the secret Baha Mar deal?”

The Bahamas ambassador to China, Paul ‘Andy’ Gomez, and his embassy have received permission to pursue Chinese agriculture and fisheries investments, V Alfred Gray, minister of agriculture and fisheries, confirmed yesterday.

Their present proposal so for the injection of some $2.1 billion into the Bahamian economy over 10 years. This will involve the incorporation of 100 Bahamian companies, each of which will be owned 50­/50 by Chinese and Bahamians, or Bahamian entities.

“While the development of the agriculture and fisheries industries is a very desirable venture, we must be mindful of the details,” Mr Turnquest said. “Who, what and when?

“We are aware of the challenges in the Asian Pacific region that has led to depleted fish stocks and thus regional tensions. Will we see the same here, with uncontrolled fishing and foreign methods? How many foreign workers will there be imported?”

If the proposal is approved, the Government would reportedly lease, with an option to renew for additional years, some 10,000 acres of Crown Land in Andros that would be divided between the 100 companies.

“In terms of land acquisition, is this another land sell-off by the PLP to a foreign  state which they will not be able to control once title is handed over?” asked Mr Turnquest.  

“Where does BAMSI fit into this picture?  Who will lead these organisations, and what will be the ownership and management structure? What will be the demand on natural resources, water and environment?”

Mr Turnquest added: “ Generally, we will need to know more about this proposal, but as we have done in the past we raise the alarm again about the selling and/or franchising large chunks of our economic infrastructure to foreign state-owned entities.

“We do not feel this is prudent for long-term stability or sovereignty, ironic for a government who continues to cry concerns over sovereignty whenever a significant  concern is expressed by members of the Bahamian public.”