The Government of The Bahamas was advised by PharmaChem Technologies (PCT) of their decision to commence winding down of operations, effective today, as a result of “unprecedented challenges that have significantly impacted their ability to sustain operations”. This decision is heartbreaking, considering the ongoing recovery of Grand Bahama Island, and our efforts to bolster the industrial sector.
PharmaChem, for many years, has contributed significantly to the economic landscape of Grand Bahama, and of course, our immediate concern is the well-being of the affected employees.
While the situation is challenging, the government remains actively engaged, and PCT has reaffirmed its commitment to adhere to all legal and environmental obligations.
Through the Department of Labour, the Government will work closely with the employees of PharmaChem on potential redeployment opportunities, retraining, soft-skills enhancement, and counselling. Employees are asked to contact Mr. Howard Thompson, Director of Labour, at 242- 557-9941, 242.302.2550 through 2562, or howardthompson@bahamas.gov.bs, who will spearhead this exercise.
We also encourage employees to consider innovative entrepreneurial opportunities, as Grand Bahama recovers and rebuilds. The proposed Innovate242 Business Incubator to be established on Grand Bahama Island, in the coming months, will be a great resource. With over $1.8B in new investments in progress, including the $500M Celebration Key, $600M Grand Bahama Shipyard Transformational Redevelopment Project, $71.3M Liwathon at South Riding Point, $200M Airport Redevelopment, $200M Freeport Health Campus, and many other developments, there will be significant opportunities for new employment.
We remain optimistic about the economic future of Grand Bahama Island as we recover, rebuild and continue to revolutionize.
From: Bahamas Information Services
