Noted Economist Gowon Bowe is of the opinion that the Grand Bahama Hawksbill Creek Agreement is outdated.
Bowe said, “when we look at the Hawksbill Creek Agreement, when we look at the structure that this Freeport and then the wider Grand Bahama there was a structure that was envisioned back in the 50s and 60s that was to actually lead to development and it did. The question is whether or not the existing structure is still appropriate.”
The Hawksbill Creek Agreement was first signed by the government of The Bahamas and Wallace Groves in August 1955 for the development of 50,000 acres on the island of Grand Bahama.
Mr. Bowe further stated, “it has long been known that the current construct which is Freeport and the Grand Bahama Port Authority has not been as productive as it was in the earlier years. And some of that may be due to the intention and some of that may be due to the investment but a large part of it is due to just the passage of time, that the circumstances are different, the needs are different.”