Minister of State for Grand Bahama in the Office of the Prime Minister, the Hon. Kwasi Thompson, along with the Director of Investments Candia Ferguson represented the Bahamas Government and the island of Grand Bahama at the Commonwealth Business Forum 2018, a part of the Commonwealth Heads of Government Meeting (CHOGM) in London. The Commonwealth Business Forum is an integral part of CHOGM and brings together businesses critical to trade and investment with government leaders to debate the issues facing their countries in 2018 and beyond. Minister Thompson in a statement on the meeting outcome said: “The Government has been very focused on revitalizing Grand Bahama, this will be accomplished by increasing trade and investment in Grand Bahama. Today’s meetings allowed government and business leaders to address issues in their countries. I was able to speak to other government and business leaders about investing in Grand Bahama particularly in the technology industry.
“The meeting today showed that our strategy is consistent with world trends in the technology industry. The Bahamas delegation participated in an invitation-only roundtable discussion on ‘Developing the Digital Economy.’ The global economy is undergoing a digital transformation presenting both opportunities for growth and modernization. “We discussed what The Bahamas and in particular Grand Bahama can do to increase the growth of the digital economy and how The Bahamas can create the essential conditions necessary for tech start-up businesses to emerge and grow. This was in keeping with The Bahamas’ vision of creating a Technology Hub in Grand Bahama. The discussions with other government leaders were also helpful in making progress on the Bahamas blockchain and cryptocurrency framework.”
Minister Thompson continued: “We discussed ways to foster the necessary political leadership and access the essential talent, finance, and infrastructure to build our technology industry. “We also met with tech companies with a view to encouraging investment in Grand Bahama. Grand Bahama’s recovery will require work at home and work abroad. Local and foreign investment is needed for more job creation. We must continue to spread the message internationally that Grand Bahama is open for business and it is a good place to invest. It is hoped that these meetings will help in executing our plan to revitalize Grand Bahama.” Minister Thompson added, The Bahamas participated in a roundtable discussion on how small island states can, through innovation, diversify their economies to survive hurricane threat.