The Tribune

By RICARDO WELLS

Tribune Staff Reporter

rwells@tribunemedia.net

FREE National Movement Deputy Leader Peter Turnquest said his party is poised to address the economic woes that plague Grand Bahama as he took issue with vague and unsubstantiated outlooks forecast by the Christie administration.

The East Grand Bahama MP told The Tribune that the plight of the nation’s second city has continued to go unaddressed by the government despite the almost daily economic setbacks experienced by residents there.

Mr Turnquest said his party is prepared to, if elected, begin the restoration of the island’s economy, which he said was critical to national development.

“The FNM recognises that, in order to revitalise Grand Bahama, more needs to be done by all stakeholders working in partnership and recognising that together we can achieve more for our people and island,” he said.

He added that the FNM has the keys to “significantly improve” parts of this development, insisting that while others have been talking, the FNM has been busy “recruiting business to the island and exposing our value proposition to various entities and industries in North and South America”.

Mr Turnquest said: “There is no doubt that the Grand Bahama economy has substantially weakened over the last four years marked by job losses and closures.

“The vulnerability of the island’s economic infrastructure was highlighted by the recent passage of Hurricane Matthew, for which the Government continues to have no response.

“We recognise that the development of special economic zones like Freeport are a tremendous asset to any country if properly utilised and promoted.”

Mr Turnquest, an accountant, said the concept of free trade and less red tape rather than more, if streamlined and focused, would facilitate investment and more central revenue than punitive measures in Grand Bahama.

“We recognise that Grand Bahama has some unique economic, logistical and geographic features which can be exploited to the benefit of a diversified island and country,” he said.

“We must concentrate our efforts and build out from a centre or hub recognising that all parts must be producing in order to create the synergy necessary to make the whole work.”

Senior government officials in Grand Bahama have pushed the message that the government’s new tripartite agreement for economic growth and development in Grand Bahama would be the ‘saving grace’ of the island.

The deal includes the Government, the Grand Bahama Port Authority and the Grand Bahama Chamber of Commerce.

The push followed reports that Hutchison Whampoa had sent letters to the staff of the Memories Resort, informing them that the property would not resume operations until May 17. The resort was severely damaged by Hurricane Matthew. Repair efforts are said to be underway, but slow.

The FNM has announced plans to release its policy document this week. The economic revitalisation of Grand Bahama is said to be one of the document’s main components.