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Bahamian Minister Underlines Crucial Importance Of E-Commerce

by Mike Godfrey, for LawAndTax.com, New York

11 February 2003

Bahamian Minister of Financial Services and Investments, Allyson Maynard Gibson, has outlined to Parliament the Government's intentions regarding e-commerce. Last November, the minister promised rapid action to computerise the Companies Registry. Now she has defined the jurisdiction's general e-commerce goals, and the legislation she plans to bring forward:

  • To create the degree of legal certainty necessary to inspire confidence in on-line commercial activity, by according legal recognition to electronic contracts;
  • To set out the duties and liability of e-commerce service providers and intermediaries;
  • To create an offence arising out of unlawful interference with computers and computer systems;
  • To create a framework consistent with international standards on privacy of personal information.

Ms Gibson compared the Bahamas' situation to what had been achieved in Bermuda by 2002 :

  • 95% of companies surveyed have internal e-mail,
  • 92% have connections to the Internet,
  • 70% are using some form of electronic payments,
  • 43% are already using a web-site for promotion and
  • 28% are already into e-procurement.

The Minister insisted that the economic health of The Bahamas will depend on how people, government and the business community embrace e-business. As she sees it, the purpose of E-Government will be to inform, engage, and empower the people (members of parliament) serve, and is particularly relevant given the archipelagic nature of the country.

Ms Gibson emphasised that the necessary people resources must be available, saying that there was no point in pretending that all is well with education. There was an urgent need for a revamp the educational system to support e-commerce development, especially career development.

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