'Opportunities Abound' In The Bahamas Says Christie

by Amanda Banks, Tax-News.com, London

19 May 2003

The Prime Minister of the Bahamas, Perry Christie, was in Florida last week to address a group of local businesses people on the benefits of investing in the jurisdiction, according to a Nassau Guardian report.

The Prime Minister was accompanied by fellow government member Obie Wilchcombe, Minister for Tourism and Senator Cyprianna McWeeney in addition to Attorney General Alfred Sears and CEO of the Bahamas Financial Services Board Wendy Warren. Telling the audience that "opportunities abound" in the country, he said: "Investors should be confident that The Bahamas is open for business and my government is friendly to business."

Christie explained to the attendees the merits of the new Ministry of Financial Services and Investments, created specifically to ensure an investor friendly environment. "The first and most important job of that ministry is to stimulate investments and promote efficient equity growth by welcoming investors and replacing any bureaucratic obstacles with an eager and open 'Yes we can' attitude toward investors seeking opportunities in our country," asseted the PM.

The Prime Minister claimed that the work of his administration had secured the Bahamas' position as "the finest Financial Services Centre in the world," and revealed how his government has created a five year plan concerned with maintaining a competitive tax regime and clear economic policies, amongst other things.

It was also noted by Christie that the jurisdiction had clocked up $700 million worth of foreign direct investment interest in the last year, and the Investment Board had considered $900 million worth of second home applications. In relation to the property sector, the PM explained that is was the Board's objective to process all applications within a 30 day timeframe.

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