NASSAU, BAHAMAS – There is need for ‘new blood’ to jump-start the Grand Bahama Port Authority (GBPA) according to Deputy Prime Minister and Minister of Finance K Peter Turnquest.
In a recent interview, Turnquest told Eyewitness News: “The model has stalled’.
Turnquest said that while the GBPA, which acts as the municipal authority for Freeport has been ‘very beneficial’ to Grand Bahama, there remains room for improvement.
“I think there is no denying that there is room for improvement,” he said.
“The Port Authority has been very beneficial to Grand Bahama. It has developed and delivered a modern city that rivals what we may find in across the Caribbean and other parts of the developed world.
“The model has stalled and we do need new blood to jump-start it again. We hope with the developments coming we will be able to inject new life and attract new entrepreneurs as well as investors to take another look and see what we see and invest along with us.”
Turnquest continued: “The Port Authority is trying but I think we need some new stimulus to come in with new ideas and new capital and bring some resources to bear.
“Hopefully that would inspire others to invest align with them to get us going.”
The government anticipates that the renovation and development of Freeport’s cruise port and the Grand Lucayan resort complex to be undertaken by Holistica – a joint venture company formed by Royal Caribbean International and ITM Group will provide a major stimulus to the Grand Bahama economy.
While negotiations have been ongoing with the government for several months, the deal has yet to be concluded.
Carnival’s mega cruise port development is also expected to provide significant economic opportunities on the island.