The Financial Services Consultative Forum shall be announced before the end of the month, said Minister of Financial Services and Investments Alyson Maynard-Gibson.
Addressing a Rotary meeting held at British Colonial Hilton’s Blackbeard’s Tavern on Thursday night, Mrs. Gibson told the group of businessmen and their guests that the forum will be held to focus on matters of national interest, market needs and changing market trends.
Since May this year, Mrs. Gibson said it has been her goal to engage in consultation with private sector partners.
“I hope to forge consensus between public and private sector on how we will together create economic growth over the ensuing years. I also believe that the Strategic Plan will bring transparency and accountability to the work of my Ministry,” said Mrs. Gibson.
She said that the major strategy would be to work with the thought that “the customer is king.”
Mrs. Gibson noted that investors are customers regardless if they are on the direct investment side, or on the financial services side of the ministry.
She added that while investors, be they Bahamian or foreign have many choices, it will be the service provided that will leave The Bahamas closest customer far behind.
Mrs. Gibson stressed that a vibrant two way communication channel between the private and public sector will allow The Bahamas to respond quickly and “get things right the first time.”
She said the Government would call on the private sector to spread the word that in The Bahamas, and that investors will find a pro business Government.
“Partners who speak positively of the benefits derived from partnership arrangements are invaluable in a promotional campaign,” she told the gathering.
Mrs. Gibson said that by drawing on the knowledge of experts the Government would considerably enlarge its limited resources.
“In an environment that encourages the full participation of stakeholders and for full discussion of policy and other development matters, we have a better chance of rapid response and getting it right the first time,” she said.
Mrs. Gibson noted that the environment for economic growth is heavily depended upon by one’s proximity to the market.
She said those who fully understand the market have a better chance of selling a professional service or a tangible product.
“We shall have to work closely with the Bahamas Financial Services Board on promotions. Again, we want to achieve close private and public sector partnership in promoting the Bahamas,” said Mrs. Gibson.
She added that the Strategic Plan would ensure that the community’s voice is heard in relation to significant investments.
Mrs. Gibson further stated that the recent Exuma Town Meeting was an example of the Government’s intent to develop consultation and dialogue with interested parties.
“My ministry will take to NEC projects, that we believe will benefit the community. To obtain NEC’s approval in principle to proceed, we have to convince the NEC of the socio-economic benefits of the project,” said Mrs. Gibson.
She said her Government would discuss all aspects inclusive of an EIS (Environmental Impact Statement) of the project, seek out public opinion about the project, so the community can make informed decisions.
Mrs. Gibson stressed that he government is committed to replacing the red tape with the red carpet, responding proactively with legislation to meet market needs and “to promoting The Bahamas as a blue chip well regulated and co-operative jurisdiction.”
