The Tribune

By MATT MAURA

Bahamas Information Services

THE government has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said on Saturday.

His remarks came at a reception in Washington, on the heels of The Bahamas maintaining a stable outlook from the international credit rating agency Standard & Poor’s (S&P) during its most recent assessment of the country.

Dr Minnis arrived in DC on Friday. Among other items on his schedule, he courted overseas Bahamian investors; overseas investors who are friends of The Bahamas and those of Bahamian heritage who are not Bahamian citizens, but who have family ties to The Bahamas.

Addressing the reception for local Bahamians and friends of The Bahamas, Dr Minnis said his administration will “early next year” announce a number of exciting investment prospects for the country, including Grand Bahama. He also announced that administration officials will launch targeted investment and trade missions to various geographic regions “in due course”.

“There is a new Bahamas emerging. I invite you to be a part of the transformation that will help to make the Islands of The Bahamas a more dynamic and vibrant country,” Dr Minnis said.

He also said his administration’s programme of reform and transformation includes innovative thinking about the role of government “as we create new and innovative partnerships for national development”.

“We are stabilising public finances and reforming government. We are ensuring the greater ease of doing business for Bahamians and foreign investors,” Dr Minnis told the gathering.

“The Bahamas has a highly favourable investment regime. We are cutting the red tape and too often long waiting times for international investment projects to be vetted and approved.”

Dr Minnis was accompanied by his wife Patricia, and Minister of Foreign Affairs Darren Henfield and Mrs Henfield.

The reception was held in the George Washington Room of the St Regis Hotel.

Bahamas ambassador to the United States Sidney Collie, Mrs Collie, members of the diplomatic corps, members of the consular corps and others attended the reception.