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Customs reform vital to greater prosperity

In an increasingly interconnected world, international trade serves as the backbone of economic growth and development for multiple nations . For The Bahamas, a nation of islands in the Caribbean, trade holds the key to unlocking its economic potential. To achieve this, one crucial aspect demands attention: Reform of Customs processes. Streamlining Customs procedures can catalyse economic growth, enhance competitiveness and foster a thriving business environment in The Bahamas.

Gov’t must strike balance for private sector’s growth

Economic prosperity is a multi-faceted concept that does not solely rely on market forces. Instead, it is a synergy between various elements, and at the heart of this synergy lies the Government. While governments are often associated with regulation and bureaucracy, their impact on economic growth goes far beyond. In this segment, we will explore how governments play a crucial role in facilitating economic growth and improving the overall well-being of their citizens.

RODERICK SIMMS: Foresight needed to drive growth via global business

Fostering economic growth is of utmost importance for an island nation such as The Bahamas if it is to secure a prosperous and sustainable future. One highly effective strategy to achieve this goal is giving priority to growing the international economy. While we previously discussed the significance of growing the local economy, it is essential to recognise that the easiest way to stimulate economic growth in the local economy is by first fostering growth in its international equivalent.

Growth matters: Growing our local economy part 2

In the previous segment, we explored the challenges posed by market saturation and its potential hindrance to local economic growth. Now, let’s delve into actionable strategies to empower local businesses and fuel demand, both for existing companies seeking expansion and new entrants aiming to establish their presence.

Navigating the challenges to drive increased demand

The Bahamas, often celebrated for its breathtaking natural landscapes and vibrant cultural heritage, stands poised with immense potential for economic growth. Throughout this two-part series, we will thoroughly explore the pressing need to invigorate and foster the growth of the local economy. It is crucial to grasp the essence and significance of what constitutes an economy, as it serves as the backbone upon which the prosperity and well-being of a nation and its people are built.

When companies succeed all Bahamians can prosper

In today's dynamic world, where opportunities and challenges intertwine, the success of companies goes beyond their bottom lines. When companies flourish, the effects ripple through every aspect of our lives, leading to improved living standards, enhanced government revenue and a cycle of progress that benefits all. Let us delve into how economic growth transforms the landscape of The Bahamas, and how money flows through companies to create a harmonious circle of prosperity.

Economic growth critical for Bahamians to prosper

As citizens of The Bahamas, we frequently ponder the intricate workings of our economy, questioning its sources of income and its influence on our daily existence.

RODERICK A SIMMS: Excessive taxation no solution for corruption

Corruption, a persistent issue in many countries, can have far-reaching consequences for economies and governance systems. In the case of The Bahamas, corruption not only erodes public trust but also leads to a cycle where governments resort to taxing citizens more as a solution to reduced productivity and economic activity. However, this flawed approach has its limitations and fails to address the root causes of the problem. In this article, we will delve into why excessive taxation is not the best solution, and explore alternative approaches that can bring about positive change and development.

RODERICK A SIMMS: How our ‘leaky bucket’ threatens development

The ‘leaky bucket’ syndrome represents a major obstacle to The Bahamas’ economic growth and development. This metaphor symbolises the continuous loss of resources, opportunities and potential that impedes the country’s progress. At the heart of this syndrome is the pervasive issue of corruption. In this segment, we will explore how corruption perpetuates the ‘leaky bucket’ phenomenon in The Bahamas, worsening several inter-related challenges.

RODERICK A SIMMS: The cost of the ‘leaky bucket’

The ‘leaky bucket’ syndrome in The Bahamas represents a major obstacle to its economic growth and development. This metaphor symbolises the continuous loss and hindrance of resources, opportunities, and potential that impede the country’s progress. At the heart of this syndrome is the pervasive issue of corruption. In this column segment, we will explore how corruption perpetuates the leaky bucket phenomenon in The Bahamas, exacerbating several interrelated challenges.

RODERICK A SIMMS: Devolved governance a Family Islands necessity

Decentralisation is not just an option but a crucial need for The Bahamas given its estimated 30 inhabited islands. The current centralised governance model poses limitations and hampers the nation’s ability to effectively address the diverse challenges and opportunities presented by its unique geography. By pushing for decentralisation, The Bahamas can unlock immense potential and pave the way for inclusive development.

RODERICK A SIMMS: Freeport’s revival map with or without GBPA

The residents of Grand Bahama have become very weary when it comes to the prevailing economic conditions on their island. As the prolonged economic downturn persists, many have directed their frustration towards the Grand Bahama Port Authority (GBPA), seeking to hold it accountable for the lack of progress.

Reform Series Conclusion: ‘We are the problem.’

We must confront an uncomfortable truth: we, the people, are the root of the problem. As citizens of The Bahamas, it’s high time we face our shortcomings and acknowledge the urgent need for sweeping reforms across critical sectors of our society.

Social services reform key to healing country

Social services play a crucial role in nurturing our nation's most valuable asset: Its citizens. Currently, the well-being, health and standard of living of Bahamians are subjects of great concern. We have yet to fully tackle the challenges of accessibility for child protection services, raising awareness about mental health and revitalising social welfare programmes.

Education reform still a 'critical endeavour'

In a rapidly evolving world where information is readily accessible, the ability to think critically has become an indispensable skill.

Ensuring postal service embraces 21st century

Despite being a critical driver of economic growth, The Bahamas' postal service is currently lagging in its operations.

Union challenges and opportunities

There are several umbrella trade union groups operating in The Bahamas today whose individual union members represent workers across a range of industries.

Roderick A. Simms: Public service reform key to a sustainable Bahamas

The history of the public service in The Bahamas can be traced back to the late 19th century when the islands were a British colony.

Roderick A. Simms: Multiple measures must be used for NIB reform

The National Insurance Board (NIB) is the government agency responsible for managing the country’s social security system. The NIB provides various social security benefits, including pensions, disability benefits, maternity benefits, funeral benefits and unemployment benefits.

Remittance tax would retain migrant benefits

Most of us will never be so vulnerable or desperate as to leave our birth country due to violence, crime and extreme poverty.

We must benchmark swift justice success

THERE are many moving parts to bringing about peace and justice for citizens of The Bahamas.

Bahamians must brace for uncomfortable time

What has the COVID-19 pandemic taught us as a nation? This crisis proved that we must prepare and plan - economically, socially and financially - for a sustainable future.

Minimum wage rise better than nothing

Considering the Government’s stated intention to increase the minimum wage from its present $210 to $250 per week, as per its general election manifesto, this article will explore what such a raise would mean for the economy, workers and employers.

Closing the circle: Getting to the root causes of crime

In recent news headlines, we have seen more than 20 young men being murdered on New Providence in March.

Breaking down inflation and the policy response

To kickstart this article, let us make clear that a small amount of inflation is a good thing.

Not a good way to start day when IMF comes knocking

IN this segment, we will explore The Bahamas’ current standing with the International Monetary Fund (IMF), who they are and why they are important. When the IMF comes knocking, it is not always a good way to start the day. But does this mean that the Bahamian government is out of time to meet its debt obligations, control spending and reduce borrowing?

Creating an identity as a true republic

IN this segment, we will explore the various impacts if The Bahamas became a Republic, and moved away from a constitutional parliamentary democracy. This discussion follows Barbados departing from being an independent dominion, in which the Queen acted as head of state as represented by a governor-general.

ISLAND INSIGHTS – Climate Change: Are we ready?

In this segment, we will explore the issues Small Island Developing States (SIDS) such as The Bahamas face regarding climate change. The Bahamas, among other countries within the region, are extremely vulnerable and sensitive to the direct and indirect impact of climate change. It is a topic of concern that some countries have taken seriously while others are moving at a slower pace to address such pertinent issues.

We owe Grand Bahama an apology for neglect

The island of Grand Bahama has the potential to play a pivotal role in the social and economic development of The Bahamas. For the past few years, governments have laid out their plans to ensure that Grand Bahama rebounds, yet none has achieved a measurable improvement for the island.

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