The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

GIBC Digital officially opened its offices on Grand Bahama on Wednesday as the first of many companies that will help develop a new technology sector on the island.

Deputy Prime Minister Peter Turnquest welcomed CEO Greg Wood and his team to Freeport during the launch of their corporate offices in the Jasmine Corporate Centre off East Sunrise Highway.

He noted that the opening of GIBC's office represents only the beginning of a new tech industry that is expected to attract many others to Grand Bahama.

Mr Turnquest revealed that three additional tech firms have expressed an interest to the government to set up their digital businesses on the island.

"We are looking forward to the expansion of the tech sector in Grand Bahama," he told persons attending the opening. "You might have heard other projects should be announced very shortly, intending to bring further digital business to the island that is going to provide even more opportunity in this sector.

"I believe we are onto something truly significant that will provide a tremendous opportunity for those youngsters who are now studying and who will return," he said.

Mr Turnquest attributed the success in attracting tech firms to the passage of the new Commercial Enterprises Act.

"The entire idea behind the Act was to attract industries and sectors that were underrepresented in our country, exactly like the ones celebrated today.

"We are seeing early successes from that, and again, I want to congratulate all who participated in the drafting, consultation, and feedback from that because it is, in fact, paying dividends to the country," Mr Turnquest said.

"This is just the start; we have three others who are already on the books, and have started or about to start under this same Act. And it is that kind of creative and collaborative legislation that is going to allow us to exploit the knowledge and creativity of our people."

Mr Turnquest indicated the government is getting the ground ready for an industry that is expected to grow and change the mindset of Bahamians.

He commended Minister of State for Grand Bahama Senator Kwasi Thompson for introducing the idea when even he and others were initially sceptical.

"When he came up with this idea - he is a visionary. When he presented the idea, a lot of us were sceptical, to be honest. And through the efforts and inspiration of the minister, we see that idea…now come to paper," he said.

GIBC Digital has invested $2.5m to get the company off the ground in Freeport and is pledging an annual $50m economic impact by 2020. It expects to hire 50 persons locally and regionally. GIBC Digital is a digital-transformation facilitator, with a focus on data intelligence; cyber and fraud; customer experience; regulation and compliance, according to its website.

Mr Turnquest believes that Grand Bahama also has the potential to be the technology capital in the region, and stressed that training of Bahamians in this new sector is vital.

"We believe that Grand Bahama has the potential, talent, and environment to support this growth," he said. "The concept of a digital hub is one that I have to give credit where it is due, and that is to our minister (of state) for Grand Bahama."

He indicated that the government knew what it was doing when it enacted the legislation, which he said was initially misunderstood by many persons.

"We recognise that GB has always been the industrial capital of the Bahamas, and we had some success in tourism, but these are becoming more competitive industries and there were challenges we're having in trying to make this happen.

"Whenever you talk about change, the initial reaction is push back because we are all very happy to be in our corner and doing what we do, and we don't want anyone coming to us talking about change. And the challenge we face in the public sector is not just resistance to change, but the mindset is that this is the way we've done it and it works for us; this is the way it is done in the Westminster system, and this is the way we must do it."

Mr Turnquest added: "There is no point to have this aspiration to be the digital capital of the region and not having the skills necessary to fulfil that vision. We are doing some things with respect to the students, and will continue to expand that out into other programmes through BTVI and the University of the Bahamas."

Mr Turnquest indicated that government would be doing similar things with other industries and sectors that are under-represented in Grand Bahama.

He stated that there is a lack of progress in certain sectors on the island that the government will be addressing.

"We are looking at specific training opportunities to address the needs of the jobs that exist in Grand Bahama today because the truth is if we can do that we would absorb a lot of capacity that we have on this island that is struggling to make ends meet."

He commended Mr Wood for selecting Grand Bahama and bringing his home base to this region.

Mr Turnquest said he was pleased that the process has been a smooth one for the digital/tech company.

"This is the kind of effort that will pay dividends for us as we go out and seek further investment not only in this field but in the general (business) environment in Grand Bahama," the East Grand Bahama MP said.

The government, he stated, is actively soliciting and negotiating various other projects.

"We continue to look at one project that is taking a little longer than we anticipated, but nonetheless still progress, and we sort of say doom and gloom with respect to it. But, the truth of the matter is that there are a lot of positive things going on here in Grand Bahama that are adding value and jobs to this economy and entrepreneurial opportunities to this economy. And those are the things we celebrate today as we welcome this new investment," said Mr Turnquest, who also added that Bahamians too are now reinvesting in Grand Bahama.