NASSAU, BAHAMAS- Opposition Shadow Finance Minister Kwasi Thompson has touted the FNM’s vision for a Grand Bahama Maritime Innovation Park, positioning Freeport among global maritime leaders like Singapore and Miami.
Thompson highlighted that the vision builds upon the $600 million Grand Bahama Shipyard expansion announced by the FNM in 2021, emphasizing that the project is just the beginning of a broader plan to create a dynamic industrial and innovation hub where Bahamian, regional, and international businesses can thrive.
The $600 million expansion, initially announced by the FNM in 2021, is designed to make Grand Bahama a key player in the global maritime and industrial sectors. The project aims to modernize and expand the shipyard’s facilities, with a focus on attracting both local and international maritime companies looking to capitalize on the strategic location and capabilities of Freeport.
Thompson emphasized that the shipyard expansion should be seen as part of a larger vision for Grand Bahama’s economic future. Thompson noted that the FNM has long advocated for the creation of a Grand Bahama Maritime Innovation and Industry Park, a hub designed to support businesses in ship repair, marine engineering, and other maritime-related industries.
“Without building a broader ecosystem around the shipyard, we risk underutilizing this incredible opportunity,” Thompson noted. “The FNM’s vision is to create an environment where Bahamians are not just workers in this growing industry, but owners and innovators who lead in maritime technology and business development.”
The project, which is already underway, is expected to bring long-term benefits not only in terms of job creation but also through partnerships with global maritime firms.
“The Free National Movement remains committed to ensuring that Grand Bahama’s potential is fully realized. We believe that this shipyard expansion, along with our proposed industry park, will make Grand Bahama a global leader in maritime innovation,” Thompson stated.
