The Tribune

The residents of Grand Bahama have become very weary when it comes to the prevailing economic conditions on their island. As the prolonged economic downturn persists, many have directed their frustration towards the Grand Bahama Port Authority (GBPA), seeking to hold it accountable for the lack of progress. However, this - and present events - give rise to a fresh concern. If the GBPA were to exit its current role in Freeport, what plans does the Government have in place to ensure investment and bring economic prosperity to both that city and the wider island? This uncertainty has given rise to doubts and questions regarding the Government's readiness and ability to chart a successful path forward for Grand Bahama.

The absence of a clear road map to economic prosperity has exacerbated the worries of Grand Bahamians. The lack of transparency and public communication from the Government regarding its strategy and vision for the island's future have left many feeling apprehensive. Without a comprehensive plan that instills confidence in residents, the Government's ability to lead Grand Bahama towards sustainable growth and prosperity remains uncertain.

In the following discussion, we will delve into the complex dynamics between the GBPA and the Government, examine the challenges faced by Grand Bahama, and explore the pressing need for a transparent and robust plan that can instill hope and confidence among the residents. The goal is to ascertain whether the Government can be trusted to navigate the uncertain waters, and revive the economy of Grand Bahama, even in the absence of the GBPA's involvement.

Tension with the GBPA

The Hawksbill Creek Agreement (HCA) has been pivotal in shaping the relationship between the GBPA and the Government of The Bahamas. Signed in 1955, the Hawksbill Creek Agreement granted the GBPA substantial powers over, and responsibilities for, the development and management of the Freeport area in Grand Bahama.

Under the agreement, the GBPA was entrusted with fostering economic growth, attracting investments and creating job opportunities within the designated Freeport zone. The agreement offered various incentives, including tax breaks and duty exemptions, to entice businesses to establish operations in Freeport. This unique arrangement aimed to develop a second Bahamian city, stimulate economic activity and transform Grand Bahama into an industrial hub.

Over the years, tensions, and disputes between the GBPA and the Government have frequently arisen, primarily concerning the interpretation and implementation of the Hawksbill Creek Agreement. These conflicts have often revolved around issues such as taxation, land ownership and the division of powers between the GBPA and the Government.

Critics argue that the Hawksbill Creek Agreement, while initially successful in attracting investments, has limited the Government's ability to exercise full control and oversight over the development and economic policies in Grand Bahama. Some have questioned the effectiveness of the agreement, claiming it has hindered the Government's ability to intervene and address pressing economic challenges on the island.

Conversely, proponents of the Hawksbill Creek Agreement highlight its role in facilitating foreign direct investment and fostering economic development in the Freeport area. They argue that the agreement has provided stability and certainty for businesses operating in Grand Bahama, contributing to job creation and overall economic growth.

Despite the tensions and occasional conflicts, both the GBPA and the Government recognise the need for collaboration and co-operation to drive the economic revival of Grand Bahama. Efforts have been made in the past to address the issues surrounding the Hawksbill Creek Agreement through negotiations and dialogue. These discussions have aimed to strike a balance between the GBPA's autonomy and the Government's role in promoting economic prosperity and addressing the needs of the local population.

The Government must demonstrate its commitment to transparent and inclusive decision-making, engage with stakeholders and outline a clear plan for investment and revival. Navigating the complexities of the Hawksbill Creek Agreement, and addressing the concerns of Grand Bahama residents, will require a delicate balance between honouring the spirit of the agreement and ensuring the Government's ability to lead and guide the island's economic future. Collaborative efforts and open dialogue will be crucial in building trust, finding common ground and forging a path towards what is beneficial to the residents of Grand Bahama and the overall prosperity of The Bahamas.

Where do we go from here?

To ensure confidence and address the existing lack of trust, the Government should proactively implement a series of measures to boost economic conditions on Grand Bahama. One crucial aspect is creating an enabling business environment. The Government should streamline bureaucratic processes and simplify regulations to make it easier for businesses to operate on the island. By reducing red tape and ensuring transparent procedures, the Government can demonstrate its commitment to creating a business-friendly environment that attracts domestic and foreign investors.

Diversifying the economy is another essential step to instill confidence. Recognising the need for economic diversification, the Government should actively promote and support new sectors on Grand Bahama. Investing in renewable energy, technology, agriculture and creative industries can provide alternative sources of growth and employment. Encouraging entrepreneurship and the providing necessary resources can empower local businesses and foster innovation, ensuring a more resilient and diverse economy.

Infrastructure development is crucial to enhance the island's competitiveness and attract potential investors. The Government should prioritise investments in transportation networks, utilities and technology infrastructure. Improving connectivity and efficiency will not only benefit businesses but also contribute to the overall economic development of Grand Bahama. It is imperative that these infrastructure projects be executed with transparency and accountability to reassure residents their interests are being considered.

Investing in education and workforce development programmes is also paramount to address the evolving demands of the job market. The Government should collaborate with educational institutions, industry stakeholders and international partners to provide the correct skills training, entrepreneurship initiatives and apprenticeships. This will ensure the local workforce is equipped with the necessary skills to participate in emerging industries and attract investment. By investing in human capital, the Government can provide opportunities for residents and demonstrate its commitment to their long-term economic well-being.

Finally, tourism promotion and investment play a vital role in driving economic growth on the island. The Government should actively promote Grand Bahama as a tourist destination and attract investments in the sector. Strategic marketing campaigns, collaborations with travel agencies, and partnerships with cruise lines and hotel developers can drive tourism growth. Clear plans for infrastructure development and sustainable tourism practices should be communicated to build confidence among residents and potential investors, assuring them of the Government's commitment to maximising the potential of the tourism industry.

Implementing these measures should be a priority for the Government in building confidence and trust among the residents of Grand Bahama. Transparency, accountability and consistent communication about progress and plans are vital to demonstrate that the Government is actively working towards revitalising the island's economy.

The National Development Plan

If the GBPA was to exit its quasi-governmental responsibilities in Grand Bahama, the National Development Plan (NDP) could play a crucial role in guiding the Government's efforts to revive the island's economy. This serves as a strategic framework that outlines the Government's long-term goals, objectives and policies for sustainable development across the country.

In the absence of the GBPA, the Government would need to rely on the National Development Plan to provide a road map for economic recovery and growth specifically tailored to Grand Bahama. The plan would serve as a reference point, guiding the Government's decision-making process and ensuring that efforts are aligned with the broader national development objectives. The plan's comprehensive approach, encompassing economic, social and environmental considerations, ensures a holistic and sustainable approach to economic revitalisation. It serves as a vital tool in guiding the Government's actions, enabling it to implement targeted policies and initiatives to revive the island's economy in a post-GBPA scenario.

Conclusion

Whether the GBPA remains or not, the Government must step up and take charge to boost economic conditions on Grand Bahama. This involves creating an enabling business environment, diversifying the economy, investing in infrastructure, prioritsing education and workforce development, promoting tourism and engaging the local community. These actions should be guided by the National Development Plan, which can provide a strategic framework to drive economic recovery and growth.

However, it is crucial for the Government to address the existing lack of trust among residents. By demonstrating transparency, accountability and tangible results, the Government can rebuild confidence in its ability to navigate the complex economic challenges faced by Grand Bahama.

In moving forward, collaboration and co-operation between the Government, the GBPA, private enterprises, international organisations and the local community will be vital. Only through united efforts and a shared vision can Grand Bahama overcome its economic struggles and embark on a path towards sustainable growth and prosperity.