The Ministry of Finance will shortly convene the first meeting of the National Blockchain Strategy Committee, with Deputy Prime Minister and Minister of Finance Peter Turnquest highlighting the need for the country to capitalise on the emerging technology.

“Blockchain, while still in its early stages, is a pivotal technology that is shaping our 21st century future,” he said. “Indeed, it has already reshaped the future of financial services.”

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According to a report from the United Nations, FDI into The Bahamas dipped slightly last year, from $943m in 2016, but remains resilient and well above its lacklustre performance in 2015 when the country received just $408m in inflows.

The Bahamas’ performance is second only to the Dominican Republic, which claimed more than half of the Caribbean’s $5.8bn total. Most FDI to the region came from the United States and the European Union.

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Minister of Labour Dion A Foulkes recently met with officials from Carnival Cruise Lines, as the Government looks to partner with the company to increase Bahamian employment.

The government is hoping to finalise an agreement with Carnival soon that will enable trained and qualified Bahamians to get employment with the luxury cruise line.

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The Ministry of Finance is looking to increase the productivity of the Bahamian workforce with a new $50m initiative, partly financed by the Inter-American Development Bank (IDB).

The IDB has agreed to loan The Bahamas $20m for the Skills for Future and Current Jobs in the Bahamas Project, with the official signing taking place yesterday at the Ministry of Finance.

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Newly elected president of the Caribbean Hotel and Tourism Association (CHTA), Patricia Affonso-Dass (pictured), has spoken of the need for a cohesive regional approach if Caribbean countries are to maximise the benefits of the tourist trade.

Delivering remarks at the Caribbean Hospitality Industry Exchange Forum held in Miami recently, Affonso-Dass called on tourism stakeholders to stay “focused on the critical need to speak with one Caribbean voice, to ensure a facilitative environment for investment, development and growth and to seek out and encourage best practice…

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A greater emphasis on technology and innovation can help Caribbean countries achieve their Sustainable Development Goals (SDGs), according to the Economic Commission for Latin America and the Caribbean (ECLAC).

ECLAC Executive Secretary Alicia Bárcena spoke of the need for “new digital ecosystems” in the region during a summit organised by the United Nations Regional Economic Commissions last week.

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The Grand Bahama Port Authority (GBPA) has begun using new software to improve communication between staff and create a better working environment for all employees.

The GBPA is now using TinyPulse – an app that allows users to leave anonymous comments, suggestions and complaints. The system sends employees one question a week, to be answered at any time within those seven days. It also includes a ‘suggestions and solutions’ window where users can add their comments and a ‘peers for cheers’ tab so employees can single out coworkers for individual praise.

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Stakeholders from the Caribbean energy sector are meeting this week to discuss key issues affecting the industry, including sustainable financing, renewables and energy efficiency.

The CARICOM Secretariat is partnering with the CARICOM Development Fund and the German Agency for International Cooperation to host a workshop in Suriname that runs 25-26 July.

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Information and communications technology providers from around the Caribbean have come together this week to attend one of the industry’s biggest events and discuss issues impacting the sector.

The CANTO Annual Conference, hosted by the Caribbean National Telecommunications Organisation (CANTO), is taking place this week in Panama with the theme ‘Guiding Digital Adoption to Lead the Global Market’.

In a series of roundtables, workshops, presentations and seminars, ICT stakeholders will be invited to learn and discuss topics such as innovative entrepreneurship, disaster mitigation and recovery, regulatory challenges and opportunities and cybersecurity.

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The Outlook will also visit Abaco in September, Exuma in October and Long Island in November. A range of keynote speakers have been tabled including Deputy Prime Minister and Minister of Finance Peter Turnquest, who will address the Exuma conference, and Chairman of the Water and Sewage Corporation Adrian Gibson who is due to speak in Long Island.

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