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TOUGH TO ATTRACT FOREIGN INVESTMENT IN PANDEMIC

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

A GRAND Bahama Port Authority executive admits efforts to attract new foreign direct investments to Freeport were challenged to some extent due to travel restrictions as a result of the COVID-19 pandemic.

Ian Rolle, GBPA president, says that since getting his first jab of the coronavirus vaccine, he’s started travelling again, and believes that increased vaccinations on the island are important to reopening the Grand Bahama economy.

“We always could do more, but COVID-19 also presented a challenge for us in terms of moving around,” he said when asked about new investments for Grand Bahama.

“I just started travelling again; I got my first dose and I am happy for that and thankful for that and started to move right away. That is another thing I feel is very important to open this economy back up.

“I think as many persons as possible should consider taking the vaccine because it is very helpful in terms of us reducing the chances of not only our population getting the virus but our visitors as well.

“So, we want to protect ourselves and our visitors and reduce the chances of us dying from the significant symptoms that could result from COVID-19. So, I want to encourage persons to also strongly consider taking the vaccine for the good of the nation.”

In terms of new investments, Mr Rolle believes the Port Authority has done its part to a degree.

“At this current time, yes, I am satisfied,” he said. “I still think we can do more, but I am satisfied we are doing our part. But, I want us to do more, and we will do more.”

He indicated that the GBPA is aware many businesses that depend on tourism have undergone difficult times.

However, Mr Rolle is optimistic that the Royal Caribbean Cruise Line homeport initiative and the opening of the Grand Lucayan resort will “augur well for the future” of Grand Bahama.

“Right now, a number of entities that are depending on tourism are struggling, but we can see our way clear,” he said.

He referred to some of the investment projects that are already on tap on the island.

He said Royal Caribbean is not only working on the hotel but also working with the Port Authority to redevelop the existing harbour.

Regarding the mega port project proposed for East Grand Bahama, Mr Rolle said the Carnival Group is also trying to get permits from relevant government agencies to start its project.

“That will cause and stimulate other activities,” he explained. “Once the ball starts to roll regarding these mega-projects, everybody else will want to feed off of them. We have entities that have approached us but they are waiting on the hotel deal to close, and waiting on the Carnival deal to start.”

When asked about medical tourism, the GBPA president said they are pleased about the West Atlantic Medical University’s project.

“They are building a medical school at the moment right now, and they are very excited about Freeport,” he said.

Additionally, Mr Rolle mentioned that there is another major entity based in Houston that has signed a letter of intent (LOI) with the GBPA to explore medical tourism on Grand Bahama.

“So, I see that particular area as a very important sector for not only GB, but for The Bahamas, but based right here in Freeport and taking advantage of the concessions we offer.

“Freeport is for everyone, the entire Bahamas, and it is a part of our mission statement. The resources, the uniqueness of Freeport should be embraced by all in the Bahamas, and not just people in Freeport,” Mr Rolle said.

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