NASSAU, BAHAMAS — The Davis administration has approved $1 billion worth of investments to date, Tourism, Investments and Aviation Minister Chester Cooper said yesterday.
Speaking with reporters, Cooper said: “We have big, progressive plans for the country. We have approved $1 billion worth of investments since I have taken responsibility for investments.
“We are bringing back our tourism numbers. We’re rebounding swiftly, faster than the rest of the Caribbean.
“We’re building airports — nine airports, to the tune of hundreds of millions of dollars.”
Cooper added: “We have a hotel to sell in Grand Bahama. I have reason to believe we are going to do a deal.”
The offer process will close on March 2 at 5pm.
The Minnis administration purchased the resort from Hong Kong conglomerate Hutchison Whampoa in August 2018 for $65 million.
Royal Caribbean Cruise Lines and the ITM Group, via a joint venture called Bahamas Port Investments Ltd, signed an agreement to purchase the Grand Lucayan for $50 million in March 2020, however, the Davis administration canceled the sale, with Cooper saying it was not in the best interest of Bahamians.
Cooper said the National Economic Council yesterday approved seven new projects for industries including tourism, renewables and agriculture.
