The Bahamas turns to the private sector to drive investment – CARICOM Business

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The government hopes to soon select a private group to establish a new statutory body, Invest Bahamas – a recommendation of the Economic Recovery Committee (ERC) – which is expected to replace the Bahamas Investment Authority.

Acting Financial Secretary Marlon Johnson, who is also the chair of the ERC, said the Ministry of Finance is reviewing at least seven bids following the recent closure of the request for proposals (RFP) period.

“We had an RFP for Invest Bahamas, which is a significant recommendation coming out of the ERC. And Invest Bahamas is how do you take the current Bahamas Investment Authority and create an industry with best practices from around the world to create a proper investment entity that would help both domestic and foreign investors be able to accelerate their investment plans,” he said yesterday.

Extract from CARICOM BUSINESS Vol. 4 No. 17

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