NASSAU, BAHAMAS — The Grand Bahama Chamber of Commerce president has expressed cautious optimism for the island’s future while noting that the momentum needed to drive significant progress has yet to materialize.
“If there’s any disappointment, it’s that we had hoped for more to happen last year, especially in terms of development,” Carey said. “We’re ripe for development. We have a prepared and growing workforce. Entrepreneurs are starting businesses, and there’s a lot of positive energy on the ground. We need to see more action in Freeport and Grand Bahama as a whole.”
Carey highlighted that while the groundwork for growth is already in place, progress has been slow. “Things are some things happening, but we need more. We have projects in the pipeline, but the question is why they aren’t moving forward faster,” he explained. “Both the government and the Port Authority have talked about billions in investments, but we haven’t seen the kind of momentum we expected.”
He noted that the island is still awaiting a new buyer for the Grand Lucayan resort.
Carey said he remains hopeful while underscoring the importance of collaboration between the government and the Port Authority. “The catalyst for change here is cooperation,” he emphasized. “The government and the Port Authority need to come together, put their differences aside, and figure out how to make this work for Freeport.”
Carey acknowledged the complexities of political dynamics but stressed that the people of Freeport shouldn’t be left to suffer as a result. “I understand the political considerations and the challenges that both sides face, but at the end of the day, there has to be a way to move past all of that,” Carey said. “What’s most important is the future of Freeport and the well-being of its people. That needs to be the driving force.”
Carey also expressed hope that Prime Minister Philip Davis would place significant emphasis on Freeport’s future in his upcoming address. “I hope that in his speech, the Prime Minister will prioritize Freeport. We need to hear a strong commitment to our island and the development we’ve been promised,” Carey said.
During a May 2024 address to the Grand Bahama business community, Prime Minister Davis stated that despite significant concessions granted to the Grand Bahama Port Authority (GBPA), the organization had failed to fulfill its obligations to help develop the Freeport economy.
The government had issued an invoice to the Port Authority for $357 million covering the last five fiscal years, based on an audit prepared by PricewaterhouseCoopers. The GBPA is disputing this claim, and the matter is now the subject of arbitration.
As Grand Bahama looks to 2025, Carey hopes that a more collaborative approach will allow the island to realize its full potential, driving both economic growth and greater prosperity for its residents. “There’s a lot of promise for Grand Bahama,” he said. “Now it’s time to turn that promise into action.”
Loading ...
