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Gov committed to manufacturing

Addressing a group of leading businessmen last week, Ryan Pinder, Minister of Financial Services, with the portfolio inclusive of trade and industry, said that “the government of The Bahamas remains committed to manufacturers." The minister (pictured below) met with the Light Manufacturers’ Association at their general meeting last week. 

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TheBahamasInvestor.com
Thursday, March 14, 2013
Thursday, March 14, 2013

PinderAddressing a group of leading businessmen last week, Ryan Pinder, Minister of Financial Services, with the portfolio inclusive of trade and industry, said that “the government of The Bahamas remains committed to manufacturers.”

“We proved that coming into office with the amendment to the Industries Encouragement Act and Tariff Act, which I know fundamentally helped many of the businesses represented here today.”

Pinder made the comments at the Light Manufacturers’ Association general meeting March 8.

Focusing on The Bahamas accession to the World Trade Organization (WTO) and Economic Partnership Agreement (EPA), Pinder highlighted the opportunities that exist for Bahamian industries to expand beyond the local market.


“I have a firm belief that, we must protect our domestic industries in the context of our negotiations and there are business development opportunities for regional trade as well as continental trade. And I believe we have the opportunity to do so through a value-add trade strategy. This is much different than our regional competitors, and will set us apart.”

Pinder also addressed the creative industries, noting three fundamental aspects that are required to ensure the industry is economically viable.

“First, we have to implement legislation that incentivizes artisans. Artisans need to have incentives and to be protected. Secondly, artisans need to be linked with the buying community. This is why we are hosting events like, Design Caribbean, which will be hosted this year in Grand Bahama, to link Bahamian artisans to international buyers.”

“Finally, to ensure the industry is able to meet the international demand, we must look into the creation of a Creative Industries’ Industrial Park.”

Pinder reaffirmed the government’s commitment to manufacturers, more specifically the promotion of Bahamian entrepreneurship and industries expansion.

“It’s not what we do; it’s about what we can do,” said Minister Pinder, as he encouraged the businessmen present to take advantage of the opportunities to expand their goods and services beyond the local market.

Representatives from the Bahamas Financial Services Board (BFSB) and the Insurance Commission of the Bahamas (ICB) recently attended the annual Captive Insurance Companies Association International Conference, which took place March 11-12 in Palm Springs, California. Pictured: Bahamas representatives at CICA booth: Carl Culmer (ICB), Aliya Allen (BFSB), Janelle Sands (BFSB); Jamell Bodie (ICB). (Photo courtesy BFSB)

Speaking at the Bahamas Chamber of Commerce and Employers Confederation's Meet the Minister event today, State Minister for Investment Khaalis Rolle, said foreign direct investment is key to further growth.

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