The Tribune

By STEPHEN CRANE

A fifty-year Freeport resident and licensee

MY 2023 New Year’s wish for Freeport, Grand Bahama, is that the island is given a new start, and one that brings back full employment island-wide.

Grand Bahama enjoys unparalleled tax, stability and geographical advantages, giving it extraordinary potential for sustainable economic growth, but the Port Authority (GBPA) is no longer fulfilling its obligations to residents and licensees. The Hawksbill Creek Agreement came with many privileges, but it also obligated the Port Authority to sustainably develop Grand Bahama.

In recent years, the Port Authority has both failed to invest itself and also to attract other significant investment to generate sufficient quality employment. When Grand Bahama was ravaged by Hurricane Dorian, instead of stepping up to re-open Grand Bahama International Airport, the Port Authority and Hutchison abdicated their responsibilities by dumping the burden on the Government and, in so doing, abandoned their own obligations to Grand Bahama’s residents.

Admittedly the Port Authority goes through the motions of encouraging local entrepreneurs, and has been fortunate enough to attract a few new businesses. However, these initiatives do not begin to scratch the surface of the challenge of creating full employment or revitalising sustainable economic development for Grand Bahama.

Re-establishing full employment will be achieved by attracting qualified investors who bring new resources to the island, both financial and intellectual, and who will commit to helping the island address pressing social issues such as improving education and income opportunities for all. They will be attracted to invest on Grand Bahama by a new Port Authority that leads by investing itself, works with partners to redevelop important infrastructure, and works with the Government to modernise the Hawksbill Creek Agreement.

Despite other investments, Hutchison Whampoa has demonstrated its only interest is the container port. Hutchison has proven that it is not the development partner that the Government of The Bahamas or the Port Authority hoped it would be. As such, Hutchison should divest itself of the important real estate holdings it is not developing.

The Port Authority does not have the required financial and intellectual resources, or a productive enough working relationship with government, to uphold its development obligations so it should either sell to, or partner with, an entity that does. Currently, the Port Authority and Hutchison occupy the joint positions and the responsibilities of the island’s developers, but they are unable or unwilling to fulfill their development obligations. Both entities should do so now or, get out of the way.

Grand Bahama not only needs new investment; it also needs to update its commercial practices to attract modern, dynamic industries. Red tape and unnecessary delays in approving new licenses, companies and business processes should be replaced by easy, transparent and efficient processes. Government should partner with a new Port Authority to streamline processes on Grand Bahama; processes that, if proven to be successful on Grand Bahama, could be introduced country-wide.

Reversing Grand Bahama’s decline is critical to the island and its people, but also to the country, because Grand Bahama should be the engine that drives prosperity for all The Bahamas.

A change in Grand Bahama’s developers is overdue. As a longtime licensee I believe it is time for the Grand Bahama business community to band together, work with government and a new GBPA to implement the changes that will create full employment and help bring the island into the 21st century.

As the nation celebrates its 50th anniversary of independence, there could not be a better time for Grand Bahama to get the new developers it deserves. If you share this wish, please reach out.