Pictured: Deputy Prime Minister and Minister of Finance Peter Turnquest at the Deltec Annual Conference at Baha Mar March 4. (BIS Photo/Patrick Hanna)

Deputy Prime Minister and Minister of Finance Peter Turnquest said the government is committed to pushing an agenda that embraces technology and innovation as a response to the dynamic times.

“This is one of the rationales for the government’s focus on entrepreneurship. Specifically, we are interested in fostering a culture of entrepreneurship to unleash the full creativity and genius of Bahamian innovators,” he said at the Deltec Annual Conference at Baha Mar, March 4.

He said creating a shift cannot be done by the government alone, so he highlighted that the participation of the private sector is necessary.

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The government has published a bill for an act to update the law relating to the regulation of the investment funds business to bring the law into harmony with international standards and best practices.

The bill also expands the scope of the powers of the Securities Commission of The Bahamas in relation to regulated persons and parties related to investment funds to protect investors, the public and the reputation of The Bahamas.

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Preliminary economic indicators suggest that the Bahamian economy maintained its modest growth pace during January 2019, reflecting gains in the tourism sector and ongoing foreign investment projects, according to The Central Bank of The Bahamas latest economic review.

The latest price developments through October 2019, continued to be dominated by the impact of the hike in the value added tax (VAT) rate, while increased tax receipts supported the decline in the government’s deficit during the first half of FY2018/2019.

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The Central Bank of The Bahamas is pleased to announce the selection of NZIA Limited as the preferred technology solutions provider to design and implement the digital fiat currency system for The Bahamas. “Project Sand Dollar” is the official name for this payments system modernisation initiative. The Bank will commence negotiations with NZIA Limited to agree the final terms and scope of the engagement.

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NASSAU, Bahamas, Feb. 28, 2019 /PRNewswire/ — The Islands of The Bahamas was recognized with 18 awards across nine categories in this year’s USA Today 10Best Readers’ Choice Awards for the Caribbean. The Bahamas claimed three number one spots for Best Caribbean Beach (Gold Rock Beach in Freeport), Best Caribbean Island for Romance (Green Turtle Cay in The Abacos) and Best Caribbean Restaurant (Graycliff in Nassau).

Among many winning features, The Bahamas was celebrated across categories for its white and pink sand beaches, translucent waters, authentic culture, delicious cuisines and distinct attractions.

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Pictured: Minister Turnquest presents the 2018/19 Mid-Year Budget Statement in the House of Assembly, February 27, 2019. (BIS Photo/Kemuel Stubbs)

Acting Prime Minister and Minister of Finance Peter Turnquest delivered the Mid-Year Budget Statement in the House of Assembly yesterday.

Minister Turnquest said that the government’s 2018/19 Budget was a watershed budget, as it was guided by the stringent fiscal requirements of the then-pending Fiscal Responsibility Act.

The subsequent Fiscal Strategy Report of November then set the stage for the medium-term framework that will underpin the development of the 2019/20 Budget.

He noted that this will be the first time in 12 years that The Bahamas will have seen projected growth of over 2.0 per cent for consecutive years.

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Deputy Prime Minister and Minister of Finance Peter Turnquest gave opening remarks at Royal Fidelity Bahamas Economic Outlook yesterday.
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Prime Minister Dr Hubert Minnis held a bilateral meeting with the President of the Republic of Estonia Kersti Kaljulaid yesterday to gain further insight into how her country used technology to transform its government services and attract international investment.

The meeting was held on the sidelines of the 30th Inter-Sessional Meeting of the Conference of the Heads of Government of the Caribbean Community (CARICOM) being held this week in Basseterre, St Kits and Nevis.

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Deputy Prime Minister and Minister of Finance Peter Turnquest spoke of the need for fiscal resilience in light of global challenges this morning, as he delivered the opening address at the Royal Fidelity Bahamas Economic Outlook.

“This is a tremendous time of change,” he told attendees at the one-day conference, held at the Baha Mar Convention Centre. “The financial services sector is undergoing major change as the international regulatory environment continues to evolve.”

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Caribbean foreign ministers met ahead of the official start of the 30th Inter-Sessional Meeting of CARICOM Heads of Government February 25, 2019 in a special meeting of the Community Council of Ministers.

Minister of Foreign Affairs Darren Henfield represented The Bahamas at the Tenth Special Meeting of the Community Council of Ministers.

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