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Gov comments on China investment policy

The Ministry of Foreign Affairs has released a statement in regard to the Chinese Overseas Investment Policy. Read the statement here. 

Friday, September 1, 2017
Saturday, September 2, 2017

Here follows a August 31 statement by the Ministry of Foreign Affairs in regard to the Chinese Overseas Investment Policy:

The Ministry of Foreign Affairs is aware of the recently promulgated Chinese Overseas Investment Policy and the discussion surrounding it in local media.

These new rules laid out by China and revealed in mid-August, are aimed at governing overseas investments; specifically what China has called the “irrational” acquisitions of assets in industries ranging from real estate to hotels and entertainment.

The authorities have set out three categories – banned, restricted and encouraged.

Outlawed are investments in gambling and the sex industry. Property, hotel, film, entertainment and sports investments will now be subject to restrictions.

The elements highlighted this year were already part of the official China policy, but were only brought together in a single space.

With specific reference to investments in The Bahamas, such as The Pointe project, the Government is of the view that the new policy will have no impact as such investments were approved developments.

The Bahamas is confident that its ongoing excellent relations with China will continue and be further strengthened in the years to come, and that any future investments will continue to meet the standards deemed acceptable to all.

The Central Bank of The Bahamas governor John Rolle has responded to Moody's recent rating and discusses the establishment of a credit bureau in The Bahamas. Watch an interview with Rolle here.

During a visit to Atlanta, Prime Minister Dr Hubert Minnis has encouraged the international Bahamian diaspora to “consider new investment opportunities in The Bahamas."

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