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PM calls for more PPPs

Public Private Partnerships can help The Bahamas achieve its economic goals, set out in the country's National Development Plan, and foster better cooperation between the public and private sector according to Prime Minister Perry Christie. 

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TheBahamasInvestor.com
Tuesday, January 26, 2016
Tuesday, January 26, 2016
Catherine Morris

Public Private Partnerships (PPPs) can help The Bahamas achieve its economic goals, set out in the country’s National Development Plan, and foster better cooperation between the public and private sector according to Prime Minister Perry Christie who said his government was committed to using PPPs to further The Bahamas’ development.

Speaking at last week’s Bahamas Business Outlook, the Prime Minister said PPPs have an important role to play in the country’s development and highlighted the successful completion of several Family Island infrastructure projects that had resulted from partnerships with the private sector.


He said developments such as the upgrades to Family Island airports represented a “opportunity for private sector to participate [and] a sharing of confidence between public and private sector” that would “relieve the burden on the public purse.”

The government is currently drawing up a National Development Plan to chart the country’s economic future and Christie called on all stakeholders to fully participate in consultations. He said the goal was to turn The Bahamas into “a well-oiled investment machine, proactively seeking the investment opportunities it wants.”

The Ministry of Finance forecasts 1.5 per cent growth in the country’s GDP this coming year.

The Bahamas Business Outlook took place last week at the Melia Nassau Resort. The Prime Minister delivered the keynote address and additional speakers included chairman of the Bahamas Chamber of Commerce and Employers Confederation Gowon Bowe and president and CEO of Nassau Airport Development Co Vernice Walkine.

cmorris@dupuch.com

The Ministry of Financial Services is stepping up efforts to create an international arbitration hub in The Bahamas, hosting a three-day workshop and continuing with plans to review and amend the relevant legislation.

Around 1,000 delegates from 120 countries attended the Caribbean Hotel and Tourism Association's Marketplace conference held at Atlantis Paradise Island last week. Watch a recap of the event here.

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