The Tribune

DEREK Newbold, Grand Bahama Port Authority’s business development manager, was recently a keynote speaker at the Boshang/DBBG International Business Conference in Shenzhen, China.

The event was a partnership between the DB Business Group (DBBG) and the Boshang Foundation. This new venture is a unique collaboration of the public, private and educational sectors, consisting of Shenzhen government; represented by the Liaoning Province/Liaoyuan City, a consortium of private businesses and the Bo Providers Alumni Association, a branch of the Tsinghua University Alumni Association.

According to Mr Newbold, the invitation was extended by the DBBG following an exploratory visit with GBPA in August.

“We made contact with the DB Business Group during their initial and subsequent visits to Grand Bahama last year. Following an extensive presentation at the Boshang International Business Conference, the president and I have continued to build ties with the DB Business Group, a relationship which has already begun to produce positive results,” Mr Newbold said.

“We are presently in discussions with an affiliate of DB Business Group, World Health Industries, who have expressed a keen interest in setting up a facility here on Grand Bahama to service international markets outside of the United States,” said Mr Newbold.

“World Health Industries is a pharmaceutical company, which has experienced extraordinary growth over the past few years. A venture of this nature would prove highly beneficial for Freeport and Grand Bahama Island given our history of successful pharmaceutical manufacturing.”

DBBG is a newly formed conglomerate that offers complex integration of functions that provide a unique environment for growth. The group secures capital internally and externally to turn prospective ventures into tangible projects. Their services include project management, capital raising, business brokerage, talent exchange and international trade.

Newbold also noted that in his presentation to the group, he pointed out key advantages that companies in Asia as well as the United States could capitalized on by utilizing Grand Bahama as a platform.

“Interest in Grand Bahama by executives of both Chinese and American companies present was extremely high. In fact, we already have commitments from several companies to travel to Grand Bahama for an exploratory visit,” Mr Newbold said.

“Further, the Boshang Foundation, which consists of almost 10,000 members, has expressed interest in coordinating a Trade Mission to Grand Bahama, with a significant number of its members participating,” he said.

GBPA president Ian Rolle sees only positive opportunities for the island as a result of their efforts with the DBBG and the Boshang Foundation partnership.

“I believe that these newly cultivated relationships bodes well for Grand Bahama, as we now have a direct link to a proactive business organization with a strong membership base that consists of manufacturers,” Mr Rolle pointed out.

“Further, a significant number of these members are actively seeking market penetration and expansion into this region. With the right level of local co-operation, the returns from this effort can have a lasting positive impact on the economy of Grand Bahama,” he said.