Thursday, July 4, 2013
Thursday, July 4, 2013
Nassau, THE BAHAMAS (July 04, 2012) – The July-December issue released today celebrates the 40th Anniversary of Independence of The Bahamas with an in-depth look at the last 40 years of development in the sovereign nation, with observations by some of the country’s leading political and business figures. A period of enormous change in the jurisdiction, the last four decades has seen The Bahamas emerge out from under the influence of its colonial rulers to stand as an independent, stable democracy with the highest GDP per capita in the region.
One of the two main engines of growth for The Bahamas’ economy is the financial services industry and this issue also features an interview with two of the sector’s key protagonists–Bahamas Financial Services Board (BFSB) chief executive officer Aliya Allen and BFSB chairman and managing director of ATC Trustees (Bahamas) Ltd, Paul Winder.
“If you are measuring the development of a nation by economic and social advancement, then no other sector has contributed as much to the development of the country since independence as financial services. Particularly in terms of developing a sophisticated, educated professional class in a sector that offers high paying jobs,” says Allen during the exclusive question and answer session in the magazine’s Wealth Management section. “I think that we are on the cusp of a very dynamic period for financial services,” she adds.
Things are also beginning to look up on Grand Bahama, according to Ian Fair, Grand Bahama Port Authority (GBPA) Ltd chairman. With past ownership battles behind it and a new executive team in place, GBPA is looking towards future investment, whilst renegotiating with government on renewing the terms of the Hawksbill Creek Agreement. The cover story of this issue focuses on the executive team at GBPA charged with steering the nation’s second city into greater prosperity. “We are going into a growth spurt, which makes it an exciting time to be part of the company,” says vice chair of the GBPA Sarah St George. “We are spreading our wings and I want to be a part of that.”
Foreign direct investment is what is driving similar optimism on New Providence, as construction of the Chinese-backed, multi-billion dollar Baha Mar mega-resort continues apace ahead of its grand opening next year. In an article in this issue, Baha Mar’s senior vice president of administration and external relations Robert Sands explains the nature of the best-in-class partnerships the resort has established with such world renown brands as Rosewood, Mondrian and Grand Hyatt.
The arrival of such giants of the hospitality industry to The Bahamas will undoubtedly enhance the country’s overall tourism product, but it will also require the total commitment of the government to make its success sustainable. Elements such as tourism infrastructure, airlift and promotion fall under the portfolio of the Minister of Tourism Obie Wilchcombe, who says that he is determined to see through a long-term plan of sustainability for the entire archipelago. “I believe that what we must have is a structured plan for economic growth and development, knowing what each island requires, and then strategically going out and causing it to happen,” the Minister says in an interview in this issue.
For all these stories and many more, pick up a copy of The Bahamas Investor July-December 2013 issue.
The Bahamas Investor is produced by Etienne Dupuch Jr Publications Ltd–the leading publisher of business and tourism information in The Bahamas. Other publications produced by Etienne Dupuch Jr Publications Ltd include the Bahamas Handbook, Welcome Bahamas, What-to-do, Bahamas Trailblazer Maps and the Dining & Entertainment Guide.
For more information, promotional copies or to submit press releases to the publisher, contact the Editorial Dept at (242) 323-5665, fax (242) 323-5728 or e-mail firstname.lastname@example.org.