The Tribune

EDITOR, The Tribune.

As A Digital Transformation Consultant of Bahamian descent residing overseas, with a keen aspiration to witness the flourishing of my homeland, allow me to commence with the first of several letters. These missives will centre on individuals addressing the promising resurgence of the Bahamian Economy, highlighting the pivotal role of Grand Bahama in this revitalization.

Rupert Hayward’s recent presentation at the Grand Bahama Business Outlook offered a refreshingly candid assessment of Freeport’s current state and a pragmatic roadmap for its economic revival. His insights demand the attention of all stakeholders vested in the city’s success.

While nearly $2 billion in investments are poised to begin the reinvigoration of Freeport’s economy, Hayward rightly cautioned against complacency. He envisions a far grander potential, where the city could attract a staggering $100 billion in investments with the right strategies in place.

However, this ambitious goal necessitates an honest reckoning with past missteps and a willingness to implement fundamental changes.

Hayward outlined four crucial pillars for sustained prosperity: close cooperation among all stakeholders, including the Bahamas Government and the Grand Bahama Port Authority; transforming the Port Authority into a world-class entity; updating Freeport’s regulatory framework to enhance global competitiveness; and integrating climate resilience into the island’s economic model.

Of these pillars, the collaborative partnership between the Government and the Port Authority stands as the most critical. For too long, their divergent agendas have erected formidable obstacles to investment and entrepreneurship, breeding unnecessary bureaucracy and compounding tax burdens. This adversarial dynamic has effectively stifled Freeport’s ease of doing business, undermining its ability to compete with other free trade zones worldwide.

Hayward’s clarion call for genuine cooperation between these two entities is spot on. Freeport’s progress, and by extension, the prosperity of its people, hinges on the Government and the Port Authority’s commitment to work hand in hand, fostering an environment conducive to international capital investment.

I commend Hayward, a proud Bahamian and an even prouder son of Grand Bahama, for his visionary leadership and earnestly hope that his recommendations – and the example he set – will resonate with all key stakeholders shaping the island’s future.

In this vein, I was heartened to see Minister for Grand Bahama Ginger Moxey recently unveiling the ‘Coming Home’ initiative, designed to reverse brain drain and cultivate a “critical mass” of Bahamians living and working on the island. This aligns with Hayward’s emphasis on this concept, signaling the government’s alignment with his vision.

For the first time in many years, I have begun to harbour genuine hope for Freeport and by extension Grand Bahama’s future, but only if the critical players heed Hayward’s warning and seize this golden opportunity through collaborative efforts.

Will they rise to the occasion, or squander yet another chance at revitalisation?

CORNELIUS A JOHNSON, II

Freeport,

Grand Bahama.

March 19, 2024.