NASSAU, BAHAMAS — East Grand Bahama MP and Opposition Shadow Finance Minister Kwasi Thompson yesterday renewed calls for the government to extend the Special Economic Recovery Zone order in the wake of the impact of Tropical Storm Nicole on the islands of Abaco and Grand Bahama.
Thompson said: “Grand Bahama and Abaco are now experiencing the tragic effects of Tropical Storm Nicole. We have already seen widespread flooding and property damage throughout Abaco and Grand Bahama. My Constituents and all residents and businesses most certainly have experienced a setback in the recovery efforts from Hurricane Dorian. The Special Economic Recovery Zone was specifically set up for recovery after natural disasters. We are in the middle of another natural disaster.”
He added: “The Government must now act to bring relief for those affected and one very simple yet very effective way would be to extend the SERZ Order to ensure any setback that Nicole may have brought can be dealt with. The necessary tools are all in place through the FNM Administration’s creation of the Special Economic Recovery Act. We ask the Government to move urgently to bring immediate relief and this can start with extending the SERZ Order.”
The Economic Recovery Zone (SERZ) Order is set to expire in December. Following Hurricane Dorian, the Minnis administration established special economic recovery zones in the Abacos and the island of Grand Bahama to provide businesses and homeowners in the areas impacted by the deadly Category 5 Hurricane Dorian with a number of tax breaks and concessions.
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