Nassau, Bahamas – Today, the Prime Minister delivered a speech to the Business Round Table, reflecting on the past 50 years of independence, the current state of the nation, and the government’s priorities for the future. The Prime Minister outlined the government’s focus on the issue of the economy, education, and crime and his administration’s progress while highlighting the challenges that still need to be addressed.
The Prime Minister emphasized the importanceof creating a business-friendly environment in The Bahamas, streamlining processes, and reducing bureaucratic red tape to attract investment and promote economic growth. The government is committed to investing in education and training to ensure the workforce is equipped with the necessary skills to compete in today’s global economy.
The Prime Minister also stressed the importance of innovation and emerging industries, such as renewable energy, technology, and creative industries, and challenged the business community to invest in these areas and bring forward new ideas that can help create a more sustainable and prosperous future for all Bahamians.
The government recognizes the impact of an ageing population and low fertility rates on the sustainability of social programs, including the National Insurance Board. It is committed to finding solutions to address these issues.
The Prime Minister also highlighted the government’s recent announcement of a new immigration framework, which sends a strong message to the business community that compliance with immigration laws is expected.
This is particularly important in the construction industry, with a history of non-compliance.
The government wants to ensure that all workers are treated fairly and that businesses are held accountable for their actions. The government will monitor compliance closely, and those found to violate immigration laws may face fines or other penalties.
The government believes that by enforcing its laws and holding businesses accountable, a level playing field can be created, and all Bahamians can benefit from the country’s economic growth.
The government is committed to creating a safer and more prosperous environment for businesses and communities by investing in the police and young people and reducing the incidence of crime through prevention and education.
The Prime Minister emphasized the need for the private sector to be a partner in driving innovation and economic growth, as the government cannot do it alone. The government is committed to working with the private sector to create a brighter future for The Bahamas.