The Tribune

HAITI'S tourism and construction sectors provide significant opportunities for Bahamian businesses, it was revealed during a recent presentation hosted by the Haitian Embassy in conjunction with the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC).

Gregory Mevs, itinerant Special Ambassador for Investments for Haiti, made presentations on Haiti as a tourist destination as well as doing business in Haiti. His presentation on tourism outlined the developmental needs of the sector and the Government's efforts to date as it relates to providing the needed infrastructure to support the tourism product. He outlined the opportunity for Bahamians to develop Haiti's hotel product, provide their tourism expertise and the opportunity to develop a viable Haiti/Bahamas travel experience.

Mr Mevs' second presentation provided a detailed overview of business opportunities in Haiti that would be of interest to Bahamians. The priority sectors include tourism and tourist-related services, textiles, agriculture, fisheries, livestock construction and energy.

It is estimated that collectively these sectors will represent some $5 billion in annual revenue within the next five years.

Mr Mevs outlined the investment security conditions that exist and are being enhanced. Key factors such as equal treatment of local and foreign investors, guarantee of property rights, repatriation of funds and the establishment of the Mediation and Conciliation Chamber are some of initiatives undertaken.

The Free Zone Laws, as well as a 20-year income tax holiday on both corporate and personal income tax, provide incentives for business. There is also preferential duty access to most markets in the world, including the US.

I. Chester Cooper, chairman of the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC), again called for the embargo on agricultural products to be removed as well as exploring an investment treaty between the Bahamas and Haiti.

He saw the insurance and financial sectors as areas of opportunity, especially given the expertise the Bahamas has gained in these areas.