The Bahamas Investor

...forecasting 4.7 per cent growth for the fiscal year 2005/06, 6.5 per cent for 2006/07 and 6.7 per cent for 2007/08. Impressively, economic growth for the calendar year 2006 could reach 5.8 per cent, compared to only 0.8 per cent in 2001. Earlier this year, Standard & Poor’s Ratings Services reaffirmed The Bahamas’ A-1/Stable/A-2 investment rating – a rating shared by only one other CARICOM nation. And Moody’s Investors Service has also granted Th......

...inal are on schedule, underpinning the creation of hundreds more jobs. The Minister for Grand Bahama, Dr Michael Darville, along with a Grand Bahama Port Authority (GBPA) team, got a first-hand glimpse of construction projects underway at both venues during recent site inspections. Demolition work at the Reef Village is nearing completion, with finishing work set to begin on 500 rooms that will comprise the five-star resort set to be leased by Sun......

...that the “importance of achieving a sustainable energy future is critical” for the Caribbean. The Bahamian prime minister made the statement as part of his welcome address to delegates at CREF 2010–The Caribbean Renewable Energy Forum, which took place 13-15 October at Atlantis Paradise Island. The forum gathers together some of the region’s key innovators, industry leaders and prominent policy makers in the fields of renewable energy, green techn......

...ewise, the Minister said that she is in collaboration with the Minister of Financial Services in the creation of a strategic plan for immediate implementation for the positioning of The Bahamas as a maritime centre for cluster economic activities for shipping companies worldwide. “In this way we expect to attract such companies to headquarter in The Bahamas thereby creating important and substantive linkages throughout our economy in terms of lega......

...ority (BIA) – a one-stop shop for investing in The Bahamas; modernized the financial services sector, strengthening its regulation and oversight; created the Securities Commission and the Bahamas Securities Exchange (BISX) unleashing the potential of a greater shareholding society; reduced the work-week from 48 to 40 hours; introduced minimum wage in the public and private sectors; improved protections and safety standards in the workplace; increa......

...ealth Sports Ministers Meeting. The meeting was chaired by Hugh Robertson, Minister for Sport and the Olympics for the UK. During the meeting, the delegates strongly endorsed a set of guidelines that will assist governments to strengthen sport development and incorporate sport-based activities into development programmes. The framework, which was developed by the Commonwealth Secretariat, provides guidance on integrating sport in development areas......

...e Organization,” she added. Ambassador Bisogneiro also paid a courtesy call on Perry Christie, Prime Minister; Deputy Prime Minister and Acting Minister of Foreign Affairs Philip Davis and other officials.......

..., as it seeks to restructure its debt portfolio. Moving the resolution was Minister of State for Finance Michael Halkitis (pictured), who pointed out that the government guaranteed $211 million of the debt on October 20, 2009, with an additional $35 million borrowed on the August 27, 2012. When rounded to $250 million, the net contingent liability of the government amounted to $39 million, according to Halkitis. “I rise to move a resolution, which......

...essing ahead with efforts to facilitate the exchange of financial sector information for tax purposes. Efforts to strengthen crisis management procedures, anti-money laundering (AML) and combating the financing of terrorism (CFT) practices are ongoing. The mission also concurs with the authorities’ view that the current monetary policy stance remains appropriate. Given the fixed exchange rate, modest reserves, relatively slow growth and contained......

...g December 31, 2012, at the House of Assembly February 25, 2013, the Prime Minister said: “For the sake of prudence, the plan will be monitored closely and, on the basis of evolving developments, will be adjusted as necessary as we move forward.” He said as the key components of the government’s medium-term fiscal plan, action will be pursued in respect of recurrent expenditure, recurrent revenue and capital expenditure in order to both eliminate......

...d by suppliers, service providers and contractors, Atlantis is responsible for the creation of a total of at least 16,000 direct and indirect jobs.” The Prime Minister said Atlantis’ continued commitment to capital improvements and projects has resulted in a steady stream of construction related jobs and compensation. “Over the past 12 months over $35 million has been spent on capital expenditures. Where construction is concerned, over $11 million......

...p SMEs with access to financing, as well as business and technical support services. Minister Rolle said it would “ensure SMEs are based on the soundest possible footing and that they can operate in an environment that is conducive to their success.” Speaking at Accountants’ Week , held at the Sheraton Resort Nassau last week, the Minister went on to praise the role of SMEs in the wider economy, saying that they are a key part of any economic reco......

...ll member of the World Trade Organization (WTO) , according to Minister of Financial Services Hope Strachan who says her Ministry is actively working to further the country’s application in line with an “ambitious” trade strategy. The government recently completed its Factual Summary–a document required by the WTO to advance the accession process. The summary gives The Bahamas a basis for negotiations as discussions advance. Speaking at the Bahama......

...e General Assembly. Mr. President, The Bahamas commends the United Nations for the convening and outcome of the High-level Meeting on the Rule of Law at the National and International Levels last Monday. The Bahamas has committed itself to the principle of the Rule of Law and to ensuring good governance for the benefit of the entire populace of The Bahamas. The Bahamas is committed also to adhering to the rule at law at the international level and......

...ner to CARICOM. (BIS Photo/Letisha Henderson) Jerome Roberts, Acting Chief Minister and Minister of Home Affairs, Anguilla (left), and Picewell Forbes, Bahamas High Commissioner to CARICOM. (BIS Photo/Letisha Henderson) Dr William Warren Smith, President, Caribbean Development Bank, left; Picewell Forbes, Bahamas High Commissioner to CARICOM, centre; and Freundel J Stuart, Prime Minister of Barbados. (BIS Photo/Letisha Henderson) Bahamas Ambassado......