NASSAU, BAHAMAS- The Grand Bahama Port Authority (GBPA) yesterday urged its stakeholders to remain confident in Freeport’s potential with $2 billion worth of investments in the pipeline, noting that it intends to host a forum to ensure that the “historical record is set straight” in light of the Prime Minister’s recent address.
In a statement, the GBPA said that it had taken note of calls from the licensees, the residents of Grand Bahama, and several current investors for a response to Monday’s address by Prime Minister Philip Davis.
“We take this opportunity to once again reassure these valued stakeholders that GBPA remains laser-focused on the task at hand. We are working every day to deliver the $2 billion-plus of investments that the GBPA Group of Companies, through its affiliates, either initiated, is invested in, or is contractually involved in creating, and was instrumental in bringing the investors to the table. At the same time, GBPA must correct any inaccurate, incomplete or selective representations regarding matters that impact our stakeholders.”
The GBPA added: “In the near future, therefore, GBPA intends to host a live event with its stakeholders to ensure that all the matters discussed in the public domain are placed in their proper context and the historical record is set straight. In the meantime, we encourage our stakeholders to remain confident in the resilience and potential of Freeport, and in our pledge to continue working diligently to see a prosperous future for Grand Bahama.”
Prime Minister Davis told the Grand Bahama business community on Monday that the Port Authority had ample time to demonstrate its desire for a true partnership with the government. He noted that the GBPA had divested itself of key assets for profit and to the detriment of the Freeport economy.
On March 26, the government sent the Port Authority an invoice covering the last five fiscal years, for a $357 million claim outlined in an audit prepared by PriceWaterhouseCoopers.
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