NASSAU, BAHAMAS — The Davis administration has approved over $8.5 billion in new foreign direct investments since assuming office according to Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper.
Cooper’s contribution to the 2024/2025 budget debate touted the Davis administration’s robust and far-reaching investment strategy. He revealed that $1.7 billion in new FDI has been allocated for Nassau/Paradise Island alone, with Grand Bahama Island also experiencing a substantial influx of investment, with $2 billion approved.
“Exuma, my beautiful home, has attracted $1.5 billion in new FDI. This significant investment will enhance Exuma’s infrastructure and tourism facilities and support local businesses. It’s noteworthy that despite full employment in Exuma, numerous positions remain vacant due to high demand. Abaco and Eleuthera have each secured $700 million in new FDI. Cat Island, often referred to as one of our hidden gems, has received $850 million in new FDI.”
“Our aim is to ensure that the people of The Bahamas directly benefit from these developments, enjoying improved services and increased economic opportunities. However, we acknowledge there is still work to be done to enhance the ease of doing business in The Bahamas. While modest progress has been made, we are committed to further reforms to foster a more competitive and investor-friendly business environment,” said Cooper.
Cooper emphasized the operational status of the compliance unit, stating, “Our compliance unit is now operational, and efforts are underway to expand its capacity. This unit plays a pivotal role in ensuring investments comply with our laws and regulations, delivering promised benefits to our economy and local communities.”
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