Davis: Youth internship programmes, increasing base salaries and ensuring pay parity are first steps the private sector can take
NASSAU, BAHAMAS — Prime Minister Philip Brave Davis yesterday urged the Bahamian businesses community to determine how it will contribute to the country’s economic revival, noting that the country will only succeed through constructive partnership with the business community.
Davis, who was addressing the 31st annual Bahamas Business Outlook yesterday, said: “My administration can and will play its part in enhancing the macroeconomic environment of the country, but ultimately, it is only in constructive partnership with you, members of the business community, that the country will succeed.”
Have you identified what role your business will play? Are you able to look beyond short-term, narrow profit to see the possibilities of broader long-term gain?
– Prime Minister Philip Brave Davis
The prime minister questioned: “Have you identified what role your business will play? Are you able to look beyond short-term, narrow profit to see the possibilities of broader long-term gain?
“How can you help to drive down the cost of living to support the commonwealth and the common good?”
He added: “We must be willing not just to speak of change, but to boldly bring it about.
“There is no question that when people can better provide for themselves, they are likely to be more productive at work; they are more likely to use their earnings to drive the local economy; and they are more likely to exercise active citizenship — that is, to take control of their lives and influence their society for the better.
“How will you strive for a more just and inclusive workspace? What measures will you take to do away with anti-competitive practices, and how do you plan to ensure your business affords respect and dignity to all its workers?
“Whether it is in establishing youth-targeted internship programmes, increasing the base salary for your entry-level workers, ensuring pay parity in your workplace or supporting social campaigns, there are countless first steps that the private sector can take.”
Tapping into new economies
Davis also noted that the green and blue economies represent areas of enormous potential growth.
“The efficiencies and trillion-dollar potential of these industries are areas in which I would love to see Bahamian businesses become world leaders,” said Davis.
He noted that he has appointed an “environmental and climate change tsar” in the Office of the Prime Minister to, among other things, support the government’s economic priorities.
“In a similar way, opportunities in the orange economy abound, and one of my policy advisors is specifically tasked with developing this remit,” said Davis.
He added: “We want our culture to sit at the heart of our tourism offering, and at the center of our national life. The orange ‘creative economy’ represents one of the greatest fiscal opportunities for our country.
“By weaving robust cultural policy into our national development plan, we aim to develop supportive frameworks which nurture Bahamian cultural workers and allow them to excel.
“Our vision is to celebrate and market Bahamian culture — from sloop sailing to rake n’ scrape — as the main tourism product, nominating cultural ambassadors to promote the country around the world.
“A 52-week schedule with ‘world-class’ creative events promises to further invigorate both the national tourism industry and local island economies.”
