The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

KWASI Thompson, Minister of State for Grand Bahama, has indicated that the government will step in and help Port Lucaya Marketplace while continuing urgent dialogue into the sale of the Grand Lucayan Resort.

He did not give many details, but promised to reveal more on the weekend about the Minnis administration’s plans for Port Lucaya.

“Port Lucaya will get help,” he said. “So, for the next few months government will step in and bring activities to Port Lucaya to assist the vendors located there.”

Mr Thompson was speaking at the graduation ceremony for cohort five of the National Training Agency in Grand Bahama on Wednesday evening at a Social Affair.

Business is terrible at Port Lucaya, and many tenants are struggling to keep their stores open another two months. The recent closures of the Memories and Grand Lucayan resorts – which account for over 1,000 guest rooms –- has caused a 95 per cent consumer traffic fall-off.

Merchants have experienced significant drops in sales, and some tenants have gone from earning more than $15,000 or more in revenue per month to just $50 every two days.

Mr Thompson said officials are aware of the importance of getting the hotels reopened.

“Our major tourism properties must be brought back to life. (And) we are continuing our urgent dialogue with the principals and potential owners of the Our Lucaya properties.

“We know how important these properties are to Grand Bahama. Let me say the government will not stand by and let these properties continue to cripple our economy. We will facilitate the best deal in the shortest period.

“One way or another the government will ensure that the properties are renovated and opened. It is time government becomes a leader of our own successful destiny in this matter,” Mr Thompson said.

The government has expressed its disappointment to the owners of the closed Royal Oasis Resort in Freeport, and the need to sell or develop the properties. The hurricane damaged 900-room resort closed in 2004 and resulted in the loss of 1,200 jobs.

“The status quo cannot remain the same,” stressed Senator Thompson.

He has also indicated that the government will be meeting shortly with the Grand Bahama Development Company (GB DEVCO) and the Grand Bahama Port Authority (GBPA) about “moving the real estate market forward, and on making affordable prices of land available for Bahamians.”

He said that they would also speak to company executives about “improving the look of Grand Bahama”.

“We must first look like a vibrant city if we want to attract more investment,” he said.

The minister of state told graduates that the task of revitalising the economy of Grand Bahama would not be easy.

“We are all aware of the urgent need for jobs and economic stimulus on this island – it is what we were elected to do,” he said.

“We are exploring ways of reducing government regulation and red tape in an attempt to open the flood gates of investment for Grand Bahama. The more investments, the more jobs for you young people and graduates to take advantage of.”