The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

Grand Bahama’s Chamber of Commerce president says he is unaware of investors being deterred from coming to Freeport despite the “rather cumbersome” approvals process.

James Carey said: “One of the things that the Chamber is focused on, and has been for a while, is generally the ease of doing business in Freeport and Grand Bahama.

“I’m really not aware of any investors being put off because of the process, but I know the process can be rather cumbersome even for certain types of Bahamian businesses because there’s an approval process from the Grand Bahama Port Authority, and then one has to go through several processes with different government agencies including Inland Revenue

“So yeah, there is a bit of an encumbrance in getting businesses approved and done. But I’m really not familiar with any big businesses or investors having issues where they have decided not to come here any more. Not aware at all.”

Michael Pintard, the Opposition’s leader, said earlier this week that potential investors have been detered from doing business in Freeport by its “two-step approval process” and a lack of engagement from the Grand Bahama Port Authority (GBPA) and the Government.

Mr Carey said the approval process can be delayed due to the Government needing to ensure that investors adequately address concerns, but added that there have been instances where the GBPA has given the go-ahead but Nassau does not accept the due diligence its has performed.

He added: “The Port Authority boasts of its quick response to process and being available, so I don’t know how that works, but the governmental process seems to be a bit more involved. I’ve heard of instances where it does take a while to get certain approvals done.

“But what’s involved in that process, in terms of what the Government is looking for because they do have a responsibility to continue to protect what is Bahamian and address environmental issues, which becomes more relevant today.

“The Port Authority has a responsibility but there’s certain actions that the Port Authority have said that they go through and, in some instances, appear to be repeated by the Government or the Government is not accepting the process of the Port Authority in vetting, etc.”

Mr Carey added that the Government and the GBPA should work together to find ways to streamline the process, and maintained he does not believe either party is intentionally making the process difficult for investors.

He said: “So there are some issues, for sure, and I’ve on several occasions suggested that the Government and the Port Authority sit at the same table and look for ways to streamline the process to make it more simplistic.

“And, quite frankly, speaking with the minister of Grand Bahama, there is an appetite to make the process more streamlined and simplistic as one possibly can without compromising any of the requirements. So I’m reluctant to say that any of the parties is purposely stalling the process. It’s just if it can be made a little more simple.”