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PM reaffirms commitment to economic growth

The government of The Bahamas has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said recently. 

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TheBahamasInvestor.com
Monday, December 18, 2017
Monday, December 18, 2017

The government of The Bahamas has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said recently.

The Prime Minister made the comment at a Bahamas reception held in Washington, DC, December 16, 2017 following international credit rating agency Standard & Poor’s (S&P) affirmation of The Bahamas’ stable economic outlook.


Addressing the reception for Bahamians and Friends of The Bahamas residing in the Washington, Northern Virginia, and Maryland, including Baltimore, Prime Minister Minnis said his administration’s programme of reform and transformation includes innovative thinking about the role of government “as we create new and innovative partnerships for national development.”

“We are stabilizing public finances and reforming government. We are ensuring the greater ease of doing business for Bahamians and foreign investors,” Prime Minister Minnis told the gathering.

“The Bahamas has a highly favourable investment regime. We are cutting the red tape and waiting times for international investment projects to be vetted and approved.”

Prime Minister Minnis said his administration will “early next year” announce a number of exciting investment prospects for the country, including Grand Bahama.

Minnis also announced that officials will launch targeted investment and trade missions to various geographic regions “in due course.”

US-based credit ratings agency Standard & Poor’s has affirmed The Bahamas’ sovereign credit rating, while continuing to ascribe a “stable” long-term outlook due to the new government’s “solid mandate to facilitate economic and debt stabilisation”.

The recently passed Commercial Enterprise Bill will help to liberalize the Bahamian economy and offer Bahamians living overseas to chance to invest in their homeland, Prime Minister Dr Hubert Minnis has said.

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