Prime Minister Perry Christie painted a bright economic future for The Bahamas, over the weekend, as he revealed plans for millions of dollars of investment translating into the creation of more than 5,000 new jobs for Bahamians.
Addressing the final night of the Progressive Liberal’s Party 47th annual convention on Friday, Mr. Christie said the economic prospects of the country are encouraging when measured in the context of the numerous and impressive range of investments and development projects that are underway or are being actively considered by the Government.
It is believed that $1.5 billion of new investments is looming on the horizon for The Bahamas.
Among them a $50 million, 250 room hotel and a 150 slip marina along with a championship 18 hole golf course expected to be built at Morgan’s Bluff, North Andros, by a Bahamian investment group headed by Garet O. Finlayson, OBE, and Al Collie.
Further, in South Andros, a $5 million hotel investment is slated, which will compliment the Morgan’s Bluff development.
Also in line is the $500 million expansion of the Kerzner Group Paradise Island facility, which will include the construction of 1200 new hotel rooms and the addition of further water-themed amenities. The proposal also includes a $50 million development comprising 122 new time-share units.
The entire expansion will create 1000 new jobs.
Prime Minister Christie believes that these projects are just three of the many investments that will inject renewed energy into the country’s economy.
“My Government is committed to processing all bona fide applications for investment, whether local or foreign, in the quickest possible time-frame and that structural reforms to facilitate this more expeditious processing will be announced very shortly,” Mr. Christie said to a roaring crowd of supporters.
Also on-stream is the $762 million of investment of two new resorts in Exuma, which is expected to create at least 2,000 jobs. Included in this package are two Five Star resorts – the Four Season and Aman – with the possibility of a third, the Ritz Carlton.
A 500-acre Sea Air Business Centre is presently being created in Freeport, which is expected to become the cornerstone of an E-commerce industry in The Bahamas.
The Government has just approved for Winding Bay, Abaco, the establishment of an internationally renowned members’ golf club with affiliated Five Star facilities in Scotland and the United States. This is a $140 million investment that will comprise a 20 room Club House, 75 condominium units, and 50 luxury residential lots.
A $70 million Film, Television and Music Production Centre scheduled for East Grand Bahama; a $35 million hotel, marina and second home development in Crooked Island; a $3.75 million boutique, hotel and public gymnasium in Harbour Island.
In addition to these new projects, other projects are being reopened, upgraded or expanded.
Club Med San Salvador facility reopens on December 7 with weekly non-stop flight from Paris and New York.
The Hutcheson Whampoa facility in Grand Bahama continues to expand and the Port Lucaya Hotel was reflagged under the Starwood Hotel chain, which uses the name Westin and Sheraton.
Prime Minister Christie believes there will be many exciting opportunities for Bahamians, as all of the resorts coming on stream have agreed to work closely with the College of the Bahamas (COB) and the Bahamas Technical and Vocational Institute (BTVI) to train Bahamians for work in the hospitality industry.
“Entrepreneurial opportunities will also abound in the construction sectors. Hotels; houses for Bahamians and second homes for non-Bahamians; schools; marinas; clinics; police stations; stores and business houses; and other infrastructure will have to be built to sustain communities that will be developed around the major new resorts that will be coming on stream in the Family Islands,” he said, while urging Bahamians to put themselves in a state of readiness to take maximum advantage of the opportunities that now lie before them.
By Keva Lightbourne, The Nassau Guardian
