The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

A GRAND Bahama Port Authority (GBPA) executive doubts the Davis administration has a business plan for the Afro-Caribbean Marketplace project, which it has described as a “game-changing development” for Freeport’s International Bazaar.

Ian Rolle, president of the GBPA, said the government has yet to submit a plan for review. He also responded to Grand Bahama Minister Ginger Moxey’s claim during the recent Grand Bahama Business Outlook that while purchase agreements had been finalised with Bazaar property owners and the government is ready to proceed, the GBPA cited long-outstanding receivables from property owners as an issue, causing a slight delay.

“I don’t think it is holding it up,” Mr Rolle said yesterday. “I think we made it known that we are willing to work with the government.”

He said: “There is no financial business plan, and in every business deal, you must have a financial plan. You must have a business plan to determine if a deal is feasible. We have not seen that, and I don’t think one exists. So, once we see a feasible plan, we are willing to do our part to facilitate anything that will bring new life into the International Bazaar area.”

The International Bazaar has deteriorated significantly since the closure of the Royal Oasis Resort in 2004 due to severe hurricane damage. The area has suffered several fires and has become an eyesore.

The Davis administration has said it has signed a $1.8m Project Preparation Facility agreement with Afreximbank to establish the Afro-Caribbean Marketplace and Logistics Center. The development would feature exhibition pavilions representing 54 African countries, 20 Caribbean nations, and 16 islands of The Bahamas and will facilitate the trade of authentic Caribbean and African goods.

Ms Moxey has said the project aims to resolve longstanding issues, including reopening the West Sunrise Highway and redeveloping the defunct Princess Tower and Casino and the International Bazaar properties, which the government is purchasing.

She said the initiative is expected to stimulate economic activity in Freeport and serve as a logistics hub for trade and product distribution.