mangrove
03-04-08, - 08:47 AM
I really don't like this statement of PM. It seems that he is excited about new developments in the country. Mega Resorts like Bimini Bay have obviously a "green" to be built in the Bahamas, no matter how destructive it is to environment or social side of native Bahamians!
By LEDEDRA MARCHE
Senior FN Reporter
Prime Minister Hubert Ingraham in Florida on Friday highlighted what The Bahamas has to offer on its many unique island destinations and encouraged the Latin Builders Association (LBA) to visit and consider opportunities for investment for mutual benefit.
Ingraham was the guest speaker at the LBA's luncheon meeting held at the Westin Colonnade Hotel in Coral Gables.
Prime Minister Ingraham pointed out that the economy of The Bahamas is inextricably linked to that of the United States and particularly, South Florida.
"Some 85 percent of our stop-over visitors come from the United States; that does not include Americans visiting on cruise ships," he said. "And, we attribute a similar proportion of tourists' expenditure in The Bahamas to American visitors – $1.8 billion last year.
"In return, we spend more than 70 cents of every dollar earned from Americans on imports from America. Those imports come, in the main, from or through South Florida," Ingraham said.
The nation's chief noted that he was pleased to learn that among the LBA membership are many frequent vacationers to The Bahamas, a goodly number of Ameri-can Bahamian vacation-home owners and a number of other investors in The Bahamas.
With Florida being the preferred vacation and shopping destination for Bahamians, Prime Minister Ingraham revealed that he has asked the Bahamian business community to join with the government in identifying how The Bahamas' processes and systems can be improved and be more responsive to visitors, second home-owners, yachtsmen and investors.
He also extended the same invitation to the LBA.
The LBA is a non-profit organization that encompasses an array of individuals and companies related to South Florida's construction industry.
Members of the Association are developers and second-home owners in The Bahamas. The Association also holds regular fishing tournaments in The Bahamas.
Prime Minister Ingraham recalled a "bitter lesson" that The Bahamas learned when new sports-fishing regulations were introduced without adequate discussion or notice to the yachting and sport-fishing segment of the tourism market.
"The result for us was a precipitous contraction in the number of visiting sports fishermen with serious economic consequences for our Out Island Tourism," he told LBAs.
However, he also informed them that amendments to those regulations last year took into account the views of local fishermen, owners and operators of sports fishing businesses in The Bahamas, visiting sportsmen, and organizers of international fishing tournaments.
Government also took interests of conservationists to protect fish populations to ensure the sustainability of the activity into account, he said.
Along with tourism, home-ownership, boating, sport-fishing, vacationing, and commerce, Prime Minister noted that The Bahamas and South Florida share the common problem of illicit transshipment of narcotic drugs and movement of economic migrants.
"The Bahamas appreciates the cooperation and is grateful for the assistance received from both U.S, Federal and State law enforcement agencies here in Florida, in combatting these issues," he said.
Being a small archipelago of 700 islands and with just over 330 thousand people, the prime minister pointed out that government has accepted a long time ago that if The Bahamas was to develop successfully as a country, it would need to invite and encourage foreign direct investment.
"We are an open economy, fairly well-integrated into the global economy," he stated.
"We are especially interested in attracting international capital investments in a variety of areas: tourism resorts; second-homes; marinas; information and data processing; assembly and high-tech industries; ship registration and ship repair services; manufacturing and captive insurance."
Describing The Bahamas as a premier warm weather destination and a favourite of Americans, Prime Minister Ingraham told LBAs of the themed Atlantis Resort and Casino on Paradise Island which has become a major international franchise with a sister resort being developed at the Palm in Dubai.
He also spoke of the recent agreement concluded with a major international group, Baha Mar, for a multi-billion dollar redevelopment and expansion of the resort properties of Cable Beach in Nassau in joint venture with two huge U.S. resort and gaming organizations – Starwood and Harrah's.
And, prime minister noted that the climate in Grand Bahama is now beginning to improve fallout from two terrible storms in 2004 and 2005 with the acquisition earlier this year of the former Royal Oasis Hotel in Freeport by the Harcourt Group of Ireland.
"Additionally, the promise of considerable resort and residential development by Ginn in West End, Grand Bahama is creating new business and employment opportunities as the site is made ready for development," he said.
And, he revealed, Cuban-American, Gerardo Capo, one of LBAs members based in Florida, has developed a marina and residential resort community on Bimini.
During the luncheon, four Bahamian construction and architectural companies were among businesses welcomed as the newest members of the association.
By LEDEDRA MARCHE
Senior FN Reporter
Prime Minister Hubert Ingraham in Florida on Friday highlighted what The Bahamas has to offer on its many unique island destinations and encouraged the Latin Builders Association (LBA) to visit and consider opportunities for investment for mutual benefit.
Ingraham was the guest speaker at the LBA's luncheon meeting held at the Westin Colonnade Hotel in Coral Gables.
Prime Minister Ingraham pointed out that the economy of The Bahamas is inextricably linked to that of the United States and particularly, South Florida.
"Some 85 percent of our stop-over visitors come from the United States; that does not include Americans visiting on cruise ships," he said. "And, we attribute a similar proportion of tourists' expenditure in The Bahamas to American visitors – $1.8 billion last year.
"In return, we spend more than 70 cents of every dollar earned from Americans on imports from America. Those imports come, in the main, from or through South Florida," Ingraham said.
The nation's chief noted that he was pleased to learn that among the LBA membership are many frequent vacationers to The Bahamas, a goodly number of Ameri-can Bahamian vacation-home owners and a number of other investors in The Bahamas.
With Florida being the preferred vacation and shopping destination for Bahamians, Prime Minister Ingraham revealed that he has asked the Bahamian business community to join with the government in identifying how The Bahamas' processes and systems can be improved and be more responsive to visitors, second home-owners, yachtsmen and investors.
He also extended the same invitation to the LBA.
The LBA is a non-profit organization that encompasses an array of individuals and companies related to South Florida's construction industry.
Members of the Association are developers and second-home owners in The Bahamas. The Association also holds regular fishing tournaments in The Bahamas.
Prime Minister Ingraham recalled a "bitter lesson" that The Bahamas learned when new sports-fishing regulations were introduced without adequate discussion or notice to the yachting and sport-fishing segment of the tourism market.
"The result for us was a precipitous contraction in the number of visiting sports fishermen with serious economic consequences for our Out Island Tourism," he told LBAs.
However, he also informed them that amendments to those regulations last year took into account the views of local fishermen, owners and operators of sports fishing businesses in The Bahamas, visiting sportsmen, and organizers of international fishing tournaments.
Government also took interests of conservationists to protect fish populations to ensure the sustainability of the activity into account, he said.
Along with tourism, home-ownership, boating, sport-fishing, vacationing, and commerce, Prime Minister noted that The Bahamas and South Florida share the common problem of illicit transshipment of narcotic drugs and movement of economic migrants.
"The Bahamas appreciates the cooperation and is grateful for the assistance received from both U.S, Federal and State law enforcement agencies here in Florida, in combatting these issues," he said.
Being a small archipelago of 700 islands and with just over 330 thousand people, the prime minister pointed out that government has accepted a long time ago that if The Bahamas was to develop successfully as a country, it would need to invite and encourage foreign direct investment.
"We are an open economy, fairly well-integrated into the global economy," he stated.
"We are especially interested in attracting international capital investments in a variety of areas: tourism resorts; second-homes; marinas; information and data processing; assembly and high-tech industries; ship registration and ship repair services; manufacturing and captive insurance."
Describing The Bahamas as a premier warm weather destination and a favourite of Americans, Prime Minister Ingraham told LBAs of the themed Atlantis Resort and Casino on Paradise Island which has become a major international franchise with a sister resort being developed at the Palm in Dubai.
He also spoke of the recent agreement concluded with a major international group, Baha Mar, for a multi-billion dollar redevelopment and expansion of the resort properties of Cable Beach in Nassau in joint venture with two huge U.S. resort and gaming organizations – Starwood and Harrah's.
And, prime minister noted that the climate in Grand Bahama is now beginning to improve fallout from two terrible storms in 2004 and 2005 with the acquisition earlier this year of the former Royal Oasis Hotel in Freeport by the Harcourt Group of Ireland.
"Additionally, the promise of considerable resort and residential development by Ginn in West End, Grand Bahama is creating new business and employment opportunities as the site is made ready for development," he said.
And, he revealed, Cuban-American, Gerardo Capo, one of LBAs members based in Florida, has developed a marina and residential resort community on Bimini.
During the luncheon, four Bahamian construction and architectural companies were among businesses welcomed as the newest members of the association.