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Freeport urged to tap into commonwealth investment

Commonwealth Business Council chairman Dr Mohan Kaul has urged Grand Bahama to look to other Commonwealth countries for potential investors. Kaul made the remarks yesterday at the Bahamas International Investment & Business Forum in Freeport. 

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TheBahamasInvestor.com
Thursday, February 21, 2013
Thursday, February 21, 2013

The Commonwealth Business Council (CBC) has urged Grand Bahama to look to other Commonwealth countries for potential investors, such as Pakistan and South Africa, among others.

CBC chairman Dr Mohan Kaul told the Bahamas International Investment & Business Forum (BIIBF) being held in Freeport this week that the commonwealth provided a “ready made network” which could be exploited for the island’s benefit.


The BIIBF is being hosted by the CBC in collaboration with the Grand Bahama Port Authority (GBPA) and the Bahamas Investment Authority (BIA).

“There is potential for investment into The Bahamas from other commonwealth countries such as India, South Africa, Kenya and Pakistan,” he said. “The commonwealth of today is very different than it was ten or twenty years ago. We are looking for opportunities in every country. We would like to see more cross-fertilization of our economies.”

The CBC head also praised The Bahamas’ efforts to become a full member of the World Trade Organization (WTO), saying: “[Membership] should open new roads to global trade. The Bahamas is not yet as well-known as it should be, as a shipping and manufacturing hub.”

Kaul also highlighted the partnership between GBPA and the government and said investors attending the BIIBF would “leave salivating at the untapped potential” of Grand Bahama.

He said the three-day forum, which runs through February 22, would serve to spread the word about the opportunities available.

“We hope there will be better understanding of what the specific opportunities for investors are and the identification of new opportunities. We hope you leave buzzing with the potential of this island.”

cmorris@dupuch.com

During his keynote address at the Bahamas International Investment and Business Forum this morning, Prime Minister Perry Christie said that the expansion of the Panama Canal in 2015 could bring benefits to Grand Bahama's shipping industry.

Speaking yesterday at the first day of the Bahamas International Investment & Business Forum being held in Freeport, Minister of State for Investment Khaalis Rolle reiterated the government's commitment to fostering an investor-friendly climate.

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