Foreign direct investment may be reduced by targeted diaspora investment

Foreign direct investment may be reduced by targeted diaspora investment
Head of Florida-based Horizons Marketing Group International, Andy Ingraham

NASSAU, BAHAMAS – Bahamian professionals abroad may have new business opportunities at home with plans for an upcoming summit targeted towards attracting investment from the country’s diaspora – and possibly slash a heavy reliance on foreign direct investment in the process.

The Bahamian-born head of the Florida-based Horizons Marketing Group International Andy Ingraham said his company was now searching its database for successful professionals from The Bahamas who would be interested in coming back this summer to explore available opportunities.

Through a relationship with the Ministry of Tourism, Ministry of Foreign Affairs and the International Multicultural and Heritage Tourism Network, the group will look to partner professionals abroad with real investments locally that can stimulate the economy at what is to be an annual Bahamas Diaspora Summit and Trade show.

The first summit is scheduled for August 3 – 7, 2019, at the Baha Mar Resort and Casino in Nassau.

“This diaspora summit is geared toward opportunities in The Bahamas…connecting Bahamians from all over the world with Bahamians in the home country,” Ingraham said.

“We have so many people who have grown up in The Bahamas, moved overseas and would love the opportunity not just to travel back more frequently or move home outright, but to be a part of projects just as successful as they are accustomed to abroad.

“We know the desire is there, it’s just a matter of connecting the two elements together.”

According to Ingraham, the summit will identify specific opportunities that are available for the diaspora and foster meetings to further possibilities. He added the summit seeks to strengthen existing linkages and networks, while building alliances for Bahamas development and standing in the world of politics, tourism, heritage, business and investments, trade, agriculture and joint venture and entrepreneurship opportunities.

The summit will kick off with a golf tournament and opening reception before going into session and a trade exhibit. Ingraham says everything from hair and makeup companies will be on site to locate Bahamians locally for opportunity.

“There is so much opportunity here in The Bahamas,” he said, “and we can work together to ensure that Bahamians everywhere are at the helm of these opportunities.”