The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Construction Contractors Bill paves the way for Bahamians to participate in foreign direct investment (FDI) projects “to a much greater extent than before”, a former Bahamian Contractors Association (BCA) president said yesterday.

Stephen Wrinkle told Tribune Business: “The Contractors Association has worked assiduously  for many years, and through many administrations, trying to get it to this point.

“It’s very reassuring to see the interest and the time allotted to it by the Deputy Prime Minister to bring it to the table for discussion and, hopefully, for passage.

“In light of the recent events with Hurricane Matthew, I think it is probably more important than ever that, as we begin our rebuild, that we put some conformity within the industry so that the consumers and contractors will have confidence that things are being built properly, in accordance with the code, with best practices and that people who are actually certified are carrying out the work.”

Mr Wrinkle continued: “One of the problems is that there has traditionally been no certification; no licensing within the industry, and it makes it extremely difficult for people to have confidence and security in a contractor when they undertake the work. This  legislation will seek to license, regulate and control the construction industry.”

Mr Wrinkle added that the legislation will give foreign investors a starting point when hiring Bahamian contractors for work. “It will also enable Bahamian contractors to move toward bonding with international bonding companies that will recognise the Bahamian contractor’s license,” he added.

“This will open many doors for Bahamian contractors, who are continually getting shut out of these projects  because they do not have the qualifications to meet the requirements for insurance and bonding. 

“It opens up the path for Bahamian participation in FDI projects to a much greater extent than we have enjoyed. It also opens up the very real possibility of bona fide joint ventures with these international construction firms. That’s a crucial aspect that is not normally talked about.”

Deputy Prime Minister Philip Davis opened the debate on the Construction Contractors Bill in Parliament on Monday, outlining some of the key clauses and provisions that he said would bring about comprehensive reform.