The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Sir Franklyn Wilson last night slammed the growing “anti-Chinese hysteria”, warning that it would prevent the Bahamas from achieving its desired development and job growth targets.

The Sunshine Holdings chairman told Tribune Business that with both the local private sector and the Government unable to generate the necessary GDP and employment expansion themselves, the Bahamas had little choice but to seek out foreign direct investment (FDI) sources.

With China one of the few sources of available surplus capital, Sir Franklyn said it was logical for the Christie administration and its diplomats to seek potential investments from the world’s most populous nation.

And, suggesting that Opposition leader, Dr Hubert Minnis, was being hypocritical in his comment on the $2.1 billion agriculture and fisheries proposal, Sir Franklyn argued: “Partisan politics is again proving a hindrance to national development.”

With the existing Bahamian economy seemingly unable to generate enough sustainable jobs to support a growing population, he added that the Government had to “fish where the fish are” when it comes to attracting FDI.

“How do you get development? How do you do it? Where are the jobs going to come from?” questioned Sir Franklyn in an impassioned defence of the Government’s actions.

“The Government can’t do it; create jobs. The private sector is not showing the creativity, the ingenuity, the engine to do it. The only choice is foreign direct investment, and you go where there are fish, and fish where there are fish.”

The availability of surplus capital and investment assets has been one of the factors drawing the Christie administration repeatedly to China, despite the misgivings of its opponents and many Bahamians, who fear this nation may be relinquishing its economic sovereignty.

Sir Franklyn, though, decried the “almost racist” attitude towards the Chinese, and suggested the Opposition parties were engaging in opportunistic politics in the run-up to the 2017 general election.

He argued, in particular, that it was the former FNM administration that had approved the importation of 5,000-8,000 Chinese labourers to work on the $3.5 billion Baha Mar project - a move that was approved as a result of bi-partisan politics.

“We are we now moving from that sense of bi-partisanship?” the businessman argued, in response to the public backlash over the $2.1 billion Andros proposal.

“How are we going to get the development? Where are the jobs? Where are the jobs? How do you get them? The local private sector has not shown the capacity to generate the kind of jobs we need. We don’t want the Government to create jobs.

“The only choice is foreign direct investment. But when you have foreign direct investment, you have terms. How do you do it? Where do you go,” Sir Franklyn continued.

“It’s proving again that partisan politics is a major hindrance to the development of the country. To me, that is a major problem.”

Sir Franklyn then defended V Alfred Gray, minister of agriculture and fisheries, and Paul ‘Andy’ Gomez, the Bahamas ambassador to China, for seeking out foreign direct investment (FDI) sources in a bid to boost the economy and job creation.

“If you look objectively at this Andros agriculture thing, what’s the point of having foreign embassies?” he asked the Government’s many critics. “The ambassador and embassy go out there to seek out foreign investments. He writes to the relevant minister, and gets the go-ahead. It’s just an idea.”

When it was pointed out that the $2.1 billion proposal seemed ambitious to put it mildly, and involved 10,000 Crown Land acres (potentially rising to 20,000) and foreign investment in a fisheries industry supposedly reserved for Bahamians only, Sir Franklyn replied: “$2.1 billion is less than what was spent on Baha Mar.

“You can’t oppose on the basis of ambition. $2.1 billion could go to $1.5 billion, $1 billion. You go through a process and refine those plans.”

However, the Bahamas National Trust (BNT) and other environmental organisations have confirmed that they warned Mr Gomez against proceeding with his proposal, due to the potential negative impact on this nation’s pressured and depleted fisheries stocks, and concerns about Chinese fishing methods.

Sir Franklyn, though, accused Dr Minnis of hypocrisy over his anti-Chinese comments, given that he was a member of the Ingraham Cabinet that approved the thousands of Chinese work permits for Baha Mar.

“I remember him having all these Town Meetings to persuade the residents of Killarney that this was a good thing, making the case,” Sir Franklyn told Tribune Business.

“How come the Chinese are suddenly no good? What’s so disheartening to me is this hysteria developing over the Chinese. I’m really getting concerned about the wide segment of people spreading this anti-Chinese mantra. It’s wrong.”

Suspicion and mistrust over Chinese investments and economic intentions towards this nation were sparked by the Baha Mar impasse, with the Christie administration’s handling of the matter exacerbating concerns.

These have focused on the fact that Chinese investments in the Bahamas are being made largely by state-owned companies or private sector conglomerates with close ties to Beijing, raising fears that a communist country with an incompatible political system is gaining control over too many of this nation’s key economic assets.

The $2.1 billion agriculture and fisheries proposal has taken these concerns to new heights, given that the Bahamas’ natural resources and public land are involved.