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PPPs “vital” to growth

Speaking at the National Conclave of Chambers of Commerce in The Bahamas yesterday, Prime Minister Perry Christie said that public private partnerships are an innovative mechanism for economic development and urged businesses to explore opportunities in this area. 

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TheBahamasInvestor.com
Thursday, April 3, 2014
Thursday, April 3, 2014

PM on PPP

Pictured: Rt Hon Perry Christie, Prime Minister of The Commonwealth of The Bahamas delivering the keynote address at the National Conclave of Chambers of Commerce in The Bahamas held today at SuperClubs Breezes in Nassau. (Photo Harry Cutting/©Dupuch)

Public private partnerships (PPPs) are an innovative mechanism for economic development and particularly effective in The Bahamas where they can be used to deliver much-needed infrastructure upgrades throughout the archipelago, according to Prime Minister Perry Christie who urged Bahamian businesses to explore opportunities in this area.

Delivering the keynote address at the National Conclave of Chambers of Commerce in The Bahamas yesterday, the Prime Minister said PPPs were beneficial to the government, and the wider economy, as a means of reducing costs, offering better value for money and delivering better quality services.


By way of example, he pointed to successful PPPs already undertaken in The Bahamas such as the expansion of transportation facilities in Bimini, in collaboration with Resorts World International, and a joint venture in Exuma with the February Point development whereby land at the site has been earmarked for community purposes.

He also said negotations were continuing on a proposed PPP hospital development in Grand Bahama.

“I’m confident that these projects will serve as catalysts that will spur economic growth and the creation of numerous opportunities for Bahamians,” said the Prime Minister.

“I see a vital role for PPPs in our nation going forward,” he continued. “The growth of our economy is as much the responsibility of the private sector as that of the government.”

He urged the audience of business representatives to get involved, saying: “We have buildings to build, schools to build, roads to build. There are opportunities to work together. This is a wonderful opportunity to expand the involvement of Bahamians in our economy.”

“The time has come for Bahamian businesses to grasp the opportunities that are being provided in public private partnerships.”

cmorris@dupuch.com

Investment Corp of Dubai took over leadership of Kerzner International Holdings, the hotel operator that built Atlantis resorts in the Gulf emirate and The Bahamas, according to Bloomberg news service.

Stakeholders in the legal and financial services sectors are sponsoring The Bahamas Young Arbitrators event tomorrow at the British Colonial Hilton in Nassau. For more information download a PDF about the event here.

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