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Last Updated: Feb 13, 2017 - 1:45:37 AM |
The Hon. H. Ricardo Treco (right), Bahamas Consul General to Miami, is pictured with Kayla Paul Lindsay, President of Leadership Greater Jackson Alumni.
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JACKSON, Mississippi -The Hon. H. Ricardo Treco, Bahamas Consul General to Miami, recently met with Mississippi Lieutenant Governor J. Tate Reeves and officials of the Mississippi Development Authority (MDA) and the Leadership Greater Jackson Alumni (LGJA).
Consul General Treco was officially welcomed by Ms. Kayla Paul Lindsey, President of the LGJA, and Mr. Gabriel Prado, MDA’s Latin America and Caribbean Trade Specialist.
The Hon. H. Ricardo Treco (left), Bahamas Consul General to Miami, is pictured with Regina Todd and Gabriel Prado from The Mississippi Development Authority (MDA).
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Under the theme “Bringing The Bahamas to Jackson, Mississippi,” Consul General Treco highlighted the fact that The Bahamas is a nation that is known for its natural beauty and a vibrant tourism industry with rapidly increasing vacation home markets. He noted that The Bahamas has a mature, sophisticated financial services sector and is one of the most attractive international business and financial centres of the world.
“Our country has a long, distinguished history of political and economic stability, as evidenced by a democracy of over 285 years and a continued increasing inflow of international investors,” Consul General Treco said, adding that The Bahamas’ commitment to economic growth is “demonstrated by our business friendly economic policy that promotes foreign direct investment opportunities and assures investors of an established legal framework in which to do business.”
The Hon. H. Ricardo Treco, Bahamas Consul General to Miami, is pictured with Mississippi Lieutenant Governor J. Tate Reeves
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Consul General stressed that The Bahamas’ business strategy is embodied in a National Investment Policy that is characterised by a clearly defined investor friendly National Investment Policy; a sound fiscal economic and monetary policy; low taxation; a modern financial services sector supervised by Regulatory Authorities; a world class open-ship registry regulated by The Bahamas Maritime Authority; and targeted investment incentives to promote development in Tourism, Manufacturing, Agriculture, Light Industries, and Information Technology and Specialised Offshore Banking Services.
Stressing that a commonality exists between Jackson, Mississippi, and The Bahamas, Consul General Treco said that commonality is its people and resources. He suggested that both Jackson, Mississippi, and The Bahamas can benefit from an Economic Development Partnership, adding that the creation of a Nassau, Bahamas City in Jackson, Mississippi, “will definitely speak volumes for our great Foreign and International Relations as a country” and will also help to “enhance and advance The Bahamas–Jackson Tourism Market.”
With regard to economic developments, Consul General Treco said one of the most important factors for success in international trade is the competitiveness of the domestic goods and services, adding that economic developments promote job creation, economic empowerment for people, and the encouragement of entrepreneurial endeavours.
“The investment spectrum of this hybrid will encourage both Bahamians and Jacksonians to seek opportunities to invest through financial formation, educational exchange for college/university students, and tourism,” Consul General Treco said. “Through investments, international diversity is encouraged and it gives the investors the chance to have their wealth managed in other countries and let it grow bigger. The strategy of doing this has magnetised a lot of investors to invest further. These strategies on International investment also offer new methods of making money and incite those investors who are willing to risk investing their assets in a kind of market that has will earn flexible returns on the investments.”
With regard to Entrepreneurial Initiatives, Consul General Treco said they are essentially important because they “promote Entrepreneurial Education, Business Development, Hotel Ownership, Franchise Creation and the list goes on.”
“Cities, regions, states, universities, government, and even nations have launched initiatives and invested millions of dollars to promote entrepreneurial culture and attract recognised entrepreneurs to their regions in hopes that wealth and economic prosperity will follow,” Consul General Treco said.
He cited a 2007 report by the Kauffman Foundation titled, "On the Road to an Entrepreneurial Economy," which defined it this way: "At its most fundamental level, entrepreneurship is about the successful development and commercialisation of novel ideas…This process is impossible without highly creative people... who aspire to become high impact entrepreneurs."
“As it relates to The Bahamas and Jackson, both cities have a cadre of entrepreneurs who can contribute to the economy in substantial ways,” Consul General Treco said.
He added: “The Tourism spectrum of the Hybrid will first establish an understanding of how the tourism market works. As the market is consolidating, the role of this hybrid will become a driving force in tourism business endeavours. With growing competition, organisations in tourism businesses have no option but to engage in an organised marketing plan. A Tourism Education Model is essential to professional approach and it will help to keep individuals in the tourism industry informed and relevant regarding the latest tourism trends, whether it is on the tour operators' end or at destinations. Guides, escorts, restaurants, hotels, transporters, shops, etc., closely compete and have to out-market one another to stay ahead. A proper tourism marketing strategy at national level needs close cooperation between the government, tourism industry, invested partnership and the local population.”
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