The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

Governance reformers yesterday urged the Government to improve The Bahamas’ anti-corruption standing by prioritising and speeding-up reforms to promote transparency after it was accused of “stalling” on several measures.

The Organisation for Responsible Governance (ORG), responding to assertions in the US State Department’s recent investment climate statement on The Bahamas, said: “We take this opportunity to reiterate our call to the Government of The Bahamas to prioritise and expedite necessary reforms, emphasising enhancing the ease of doing business, streamlining bureaucratic processes and ensuring transparency in all public proceedings.

“We also underscore the importance of digital transformation, which is critical to a resilient, sustainable and inclusive economy.” ORG said that although The Bahamas is attractive to investors, issues such as lack of transparency and iyts digital infrastructure continue to cause concern.

It added: “We concur with the assessment that The Bahamas boasts a robust service-based economy, attractive geographical location, stable political system and commendable infrastructure, making our nation an attractive destination for global investment. We celebrate these strengths while recognising the need for continued commitment to upholding these standards.

“However, we also recognise the challenges that have been brought to light. Issues such as bureaucratic red tape, lack of transparency and the need to overhaul our digital infrastructure are of utmost concern. These areas have long been a part of our advocacy for better governance and an improved business climate.”

The US investment climate statement asserted that the roll-out of anti-corruption measures such as campaign finance reform, plus legislation that would create bodies such as an Integrity Commission and an Ombudsman, are being delayed.

It reiterated prior concerns that laws and regulations to combat graft have been “inconsistently applied”, and “more robust enforcement” is needed to prevent conflicts of interest in the bidding on and awarding of government contracts. It also noted there were no sanctions or penalties imposed on MPs, senators and public officials who failed to meet the 2022 deadline for filing their annual financial disclosures.

ORG said it “appreciates” the US assessment, adding that it can be used as a “road map” to guide The Bahamas towards a more favourable business environment.

It added: “ORG appreciates the thorough review and comprehensive perspective offered on the investment landscape of our nation. The report highlights our strengths and the areas that demand improvement, providing a road map that can guide our efforts toward creating a more favourable and conducive business environment.

“ORG is committed to working with the Government, business communities, civil society and our international partners to address these issues. Continued dialogue, reforms and proactive policies will foster a climate that encourages local entrepreneurship and foreign investment, accelerating our nation’s economic recovery and paving the way for sustainable growth.”