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Bahamas Investment Authority optimistic about FDI through 2012

In an exclusive interview in The Bahamas Investor January-July 2012 issue, Viana Gardiner, acting director of investments at BIA, says she expects the upward trend in foreign direct investment to continue through 2012. 

Tuesday, December 27, 2011
Tuesday, December 27, 2011

Speaking during a question and answer session with The Bahamas Investor magazine, Viana Gardiner, acting director of investments at the Bahamas Investment Authority (BIA), said she expects continued growth of foreign direct investment (FDI).

“In 2008, we had a decline [in FDI], with the [approved] figure that year being $1.2 billion. In 2009, it dipped to $928 million. However, in 2010, it was back on the rise at $1.2 billion.”

“I suspect that this increase is going to continue. There is definitely an increased level of interest in doing business in this country.”

Gardiner says that the government’s continued investment in physical infrastructure and telecommunications has made The Bahamas a more attractive proposition for would-be investors and should put the jurisdiction in a strong position when the global economy turns around.

“The BahaMar development is another draw. There are so many additional spin-offs that can come from having such a huge development. Once the resort is open, hopefully it will attract huge numbers of new visitors to The Bahamas.”

The BIA’s primary function is to serve as the administrative arm of the National Economic Council (NEC)–a Cabinet sub-committee headed by Prime Minister Hubert Ingraham. The council evaluates proposals and decides which projects can proceed. The BIA implements the government’s national development policy and helps to facilitate those projects that receive the green light.

Read the entire interview with Gardiner in the new issue of The Bahamas Investor out January 1, 2012.

H Hunter "Terry" White III and his family have acquired Lynum Investment Group Ltd's shares in the New Providence Development Co Ltd. The property developer counts the prestigious Old Fort Bay among its landholdings.

The sale of Bahamas Telecommunications Co to Cable & Wireless Communications (CWC) Plc stole all the headlines in the Spring of 2011, but there were plenty of other newsworthy stories. Here is a selection of the top posts on thebahamasinvestor.com during the second quarter of 2011.

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