The Tribune

The Government pledged to focus on economic security yesterday as one of the three key pillars of national development outlined during the speech from the throne, read by Governor General Cynthia “Mother” Pratt.

The administration said it would table the Bahamas National Development Plan Bill during this parliamentary session as well as an Economic Empowerment Zone legislation to set out “incentives and concessions” for industrial zones.

She said: “[The] government will also introduce a number of Bills to help grow and diversify and our economy. In order to lay the strategic foundation for the future, [the] government will introduce The Bahamas National Development Plan Bill. By putting the National Development Plan on a statutory footing, [the] Government seeks to ensure that the next fifty years of our national life, will have a firm strategic underpinning and focus.

“[The] government will introduce Economic Empowerment Zone Legislation that will set out a range of incentives and concessions to support specific industries in specific geographic areas.”

The administration also pledged solutions to the high electricity costs by introducing a renewable energy bill and a liquid natural gas bill to provide the regulatory framework necessary to expand these sectors.

She said: “[The] government has already launched programmes to install 100 megawatts of solar energy in Nassau, and new blended power facilities incorporating a minimum of 50% solar generation in sixteen locations throughout the Family Islands.

“The introduction of renewable energy is a fundamental component of our promise to drive down the cost of electricity. [The] government remains especially committed to implementing clean energy in New Providence, by moving to sources of renewable energy, and becoming less dependent on fossil fuels Building on these efforts, [the] government will therefore introduce the following legislation.

A new Renewable Energy Bill that will provide a legislative and regulatory framework for the expansion of renewable energy generation. A new Liquid Natural Gas Bill that will provide a legislative and regulatory framework for development of LNG generation , which will produce lower carbon emissions than the current system, along with the regulation of bunkering and blending LNG facilities in The Bahamas.”

Other legislation put forward for the new parliamentary session include a bill to protect the intellectual property of artists, legislation to combat cyber crime and promote data protection, a yacht registry and a legal professional amendment bill for the oversight of the sector.

She said: “Intellectual Property Legislation will be introduced to protect the country’s Creative Industries, and empower our Orange Economy. This legislation will unlock paths to job and wealth creation. [We] will propose legislation to introduce a Yacht Registry.

“A new Legal Profession Amendment Bill will be advanced that will establish a modern approach to the oversight of the legal profession.”

“[The] government will introduce legislation to combat cyber crime. A new Data Protection Act will also be proposed.”

Ms Pratt noted that although the unemployment rate has fell to 8.8 percent, lower than pre-pandemic numbers, many people do not have a job and individuals that choose to become entrepreneurs ‘still face too many obstacles. She explained that a unit will be formed to review the notice of vacant process, which verifies if there are any Bahamians suitable and qualified to fill a job vacancy prior to approving foreign labour.

She said: “While the country currently enjoys one of the lowest levels of unemployment experienced in a long time, as yet, not everyone who wants a job, has one. And those who choose to start their own business, and work for themselves, still face too many obstacles.

“A new unit will be formed to review ‘Notice Of Vacancy’ processes, to ensure that Bahamians have a fair opportunity to apply for all available jobs that are created, as our economy grows and diversifies.”

She added that the second phase of National Health Insurance, which includes catastrophic healthcare will be introduced in parliament as well as a bill to regulate the funeral service industry, a downtown management authority to oversee the downtown Nassau ‘revitalization’ and a public service reform bill.

She said: “[The] government prioritises public health, mental health and wellness initiatives, and is moving aggressively to implement the second phase of National Health Insurance, with the introduction of catastrophic healthcare cover. This will make healthcare more affordable for all Bahamians.”

“Dignity and respect should also come at the end of life, and so My Government will also introduce a Funeral Industry Services Bill to bring about a regulatory framework for the funeral home industry.”

“[The] government will establish in law, a ‘Downtown Management Authority’ to oversee the continued revitalisation of Downtown Nassau. A Public Service Reform Bill will also be introduced to modernize the approach and governance of public servants.