The government has established a formal policy for public private partnerships (PPP) that sets out definitions and terms to govern the process of identifying, screening, procuring and managing PPPs, including how to treat unsolicited proposals. 

Deputy Prime Minister Peter Turnquest said: “In the past, the term PPP has been used in broad, often metaphorical terms to account for any number of projects, including those categorized as joint ventures, management contracts and even simple vendor-financed transactions that represented essentially short term loans to the government. With the new policy, the government specifically defines a PPP as a relationship between the government and a private sector entity or consortium designed to introduce private sector resources and expertise into public infrastructure projects.”

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Prime Minister Hubert Minnis delivered the keynote address at yesterday’s opening of the State of the Tourism Industry Conference (SOTIC) at Atlantis Paradise Island.

The following is a transcript of his speech:

It is a pleasure to welcome you to The Bahamas for the State of the Tourism Industry Conference, the premier tourism conference of our region.

I welcome you as both head of government of The Bahamas, and as a member of the Caricom Quasi-Cabinet with responsibility for tourism.

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State of Tourism Industry Conference (SOTIC) 2018 being held this week at Atlantis Paradise Island got underway with regional workshop and press briefing yesterday.

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Here follows the speech from Prime Minister of The Bahamas, Dr Hubert Minnis, at the United Nations address the 73rd General Assembly:

Madam President, Excellencies,
I congratulate you Madam President on your election to the Presidency of this 73rd Session of the United Nations General Assembly.

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On February 1, 2018, The Central Bank of The Bahamas adjusted the buy and sell rate of the Investment Currency Market rate to 5 per cent and 2.5 per cent respectively from 12.5 per cent buy and 10 per cent sell rate.

Central Bank has implemented a period to allow investors to repatriate capital at the old ICM bid rate. In this particular instance, the period runs from February 1 2018 to January 31 2019. Thereafter, the investor may repatriate their capital at the new bid rate of 2.5 per cent.

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Prime Minister Hubert Minnis met with global business leaders at a forum in New York City this week as part of efforts to promote The Bahamas was a technology hub.
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Prime Minister Dr Hubert Minnis addressed the United Nations Nelson Mandela Peace Summit in New York, September 24, 2018. Read his full statement here.

Madam President:

I wish to thank you for convening the Nelson Mandela Peace Summit in support of global peace.

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Prime Minister Dr Hubert Minnis addressed the Nelson Mandela Peace Summit at United Nations Headquarters in New York City, September 24, 2018. Watch a video about the event here.
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Following the release of the document: “Guidelines for Supervised Financial Institutions on the Prevention of Money Laundering, Countering the Financing of Terrorism & Proliferation Financing”, published on the Bank’s website in August (the “AML/CFT/PF Guidelines”), it was discovered that certain paragraphs had been inadvertently omitted from Part VII – RECORD KEEPING, in the section entitled “Verification of Identity and Other Records”.

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This is an excerpt from Central Bank of The Bahamas as it appeared on September 21, 2018. For updates or to read the current version of this post in its entirety, please click here.

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The Central Bank of The Bahamas Governor John Rolle brought remarks at The Bahamas Anti-Money Laundering and Countering the Financing of Terrorism Risk Management Conference held earlier this week in Nassau.

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