The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Prime Minister is expected to be the keynote speaker at the opening of the second Grand Bahama Technology Summit tomorrow at the Grand Lucayan.

Dr Hubert Minnis' role signals his belief in the event's importance for Grand Bahama and the wider Bahamas. The conference is expected to draw large numbers of local and international participants.

"Our government recognises that in order for the economy to grow we must diversify and create other opportunities for Bahamians to be successful," the prime minister said during the opening ceremonies for a recent Blockchain and Crypto Currency conference.

"I firmly believe in growing a diverse technology industry in The Bahamas, where entrepreneurs can start and grow new technology companies. We must also welcome existing global technology players to move their operations to The Bahamas, which will have a meaningful impact on our economy and can be achieved in a relatively short period of time."

Dr Minnis argued that Grand Bahama is the ideal location in The Bahamas to establish and grow a technology cluster of block chain, and other software companies, that can jumpstart the creation of a new industry in this nation.

In spite of the challenges that come with establishing and growing a technology sector, he said The Bahamas is well-positioned to become a jurisdiction of choice for technology companies, particularly block chain technology companies and FinTech (financial technology) solution providers.

"With its close proximity to the United States, its diverse economy and its efficient Internet capabilities, Freeport, Grand Bahama is ideal for becoming a technology hub," added Dr Minnis.

The first technology summit was considered a success and, according to Senator Kwasi Thompson, minister of state for Grand Bahama, word has spread internationally. "It tells me that we did something right," said Mr Thompson.

Special interest workshops will be free to participants at this year's technology summit.