Davis made these remarks while inspecting progress on vital infrastructure projects in downtown Nassau, accompanied by Works Minister Clay Sweeting and Ministry of Works officials.
Responding to concerns about potential harm to investor confidence, Prime Minister Davis pointed to the substantial investments already secured and in the pipeline for The Bahamas. He questioned why investment capital is flowing to islands like Exuma, Cat Island, Abaco, and Bimini, while Freeport seems neglected.
“Look at what is happening in the country. We have billions of dollars in the pipeline already agreed to and more to come. If it’s going to destroy investor confidence why are they still coming? The number of projects I still have on my desk to talk about and deal with is astronomical. The challenge is why is this capital not being attracted to Freeport. It is being attracted in Exuma, Cat Island, Abaco, and Bimini, the cays in the Exumas – why not Grand Bahama? That’s the question they have to answer. If investor confidence has been shaken why do we still have all the interest to invest in The Bahamas as a whole and not Grand Bahama as a whole.”
Over the weekend, Davis reiterated the government’s stance on the GBPA’s failure to fulfill its obligations to develop Freeport’s economy, emphasizing the demand for $357 million covering the past five fiscal years.
During a Progressive Liberal Party (PLP) Branch meeting in Grand Bahama, Davis disclosed that the government had issued a demand letter to the GBPA, setting a 30-day deadline for payment. Failure to comply would prompt immediate arbitration proceedings.
The GBPA has vehemently denied owing the claimed $357 million, cautioning against government attempts to coerce a sale of the Port Group, citing potential damage to the Freeport economy.
The Port Authority emphasized the unprecedented nature of the government’s claims and warned of adverse effects on investor confidence, despite the island’s recent surge in new investments, largely attributed to the GBPA’s efforts.
Amidst ongoing tensions, the GBPA called for cooperation from the central government to resolve issues in good faith, emphasizing the collective interests of Freeport’s residents, licensees, and investors.
