Hu Shan, Chinese Ambassador to The Bahamas, has said that he is confident in the Bahamas’ economic outlook and that the new Perry Christie administration has strong policies for economic development. Watch an interview with the Ambassador here.
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A new piece of legislation enacted earlier this year in the Bahamas seeks to disentangle complicated wealth management structures and reduce personal liabilities on the part of trustees.

The Bahamas Executive Entity (BEE) is designed primarily to act as a shareholder of a private trust company (PTC) – a popular vehicle to manage multifaceted assets of high net-worth individuals (HNWIs). BEEs neither have shareholders nor beneficiaries, but are bestowed with executive powers that mimic a variety of roles currently invested with significant levels of personal liabilities.

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This is an excerpt from The Asset as it appeared on November 20, 2012. For updates or to read the current version of this post in its entirety, please click here.

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Pictured: Prime Minister Perry Christie speaks to the media during a tour of the Baker’s Bay Golf and Ocean Club development in North Abaco, November 20. (BIS Photo/Peter Ramsay)

Remarks by Prime Minister Perry Christie at the Baker’s Bay Golf and Ocean Club, Abaco, November 20:

I have come today to recognize and acknowledge the important investment and accomplishments of the visionary developers of this magnificent Baker’s Bay Golf and Ocean Club.

It gives me a real sense of satisfaction to have attracted this stellar project to The Bahamas during my first term in office, and sealed a Heads of Agreement, which has resulted in the creation of a high end anchor project in Abaco, which serves as a shining model of the vision and strategy which I have espoused for tourism and economic growth, that would also result in enormous spinoff and multiplier effect on locally owned small and medium size businesses, thereby creating numerous entrepreneurial, employment, and various other opportunities throughout our far flung Family Islands.

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Remarks made by Allyson Maynard Gibson, Attorney General and Minister of Legal Affairs, Commonwealth of The Bahamas and deputy chair, Caribbean Financial Action Task Force 2012-2013, at the Caribbean Financial Action Task Force XXXVI Plenary Meeting in Tortola, Virgin Islands, November 15, 2012:

As one of the founding Members of the Caribbean Financial Action Task Force (CFATF), the Commonwealth of The Bahamas considers it an honour and privilege to be of service to the CFATF family of nations for a second time and particularly so on the special occasion of its 20th anniversary.

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The Bahamas Coastal Awareness 6K Fun Run and Walk, Andros November 17, 2012. (BIS Photo/Derek Smith)

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Chief Justice Sir Michael Barnett and Dame Marguerite Pindling November 16 at Government House. (BIS Photo/Peter Ramsay)

Dame Marguerite Pindling is sworn in again as Deputy to the Governor General. Dame Marguerite assumes the duties of the Governor General while Sir Arthur Foulkes is out of the country. Sir Arthur and Lady Foulkes are away until November 20.

The Financial Times has confirmed Aliya Allen, CEO and Executive Director, Bahamas Financial Services Board, as a panellist for its Global Summit on International Financial Centres, November 27-28, 2012 in London.

The comprehensive two day summit is being sponsored under the broad theme, “Delivering Competitiveness and Growth in the Changing Global Economy.” It will feature senior speakers from the world’s leading and emerging financial centres who will compare and contrast how IFCs are operating in different parts of the world. Sessions will analyse and explore the future for International Financial Centres in the new global economy.

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Minister of Tourism Obie Wilchcombe says that pre-bookings for Thanksgiving and Christmas are up year on year. Watch an interview with the MInister here.
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The Ministry of Transport and Aviation held a three-day workshop on the ratification, implementation, and enforcement of MARPOL, November 13-15, at the Royal Bahamas Defence Force Coral Harbour Base.

MARPOL is the common reference for the International Convention for the Prevention of Pollution from Ships.

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Minister of Tourism Obie Wilchcombe will be the keynote speaker at the 7th annual Exuma Business Outlook next week, where he is expected to speak about tourism challenges and a long-term strategy for the island’s economic growth.

The one-day conference will take place November 21 at Sandals Emerald Bay Resort and is hosted by the TCL Group.

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