NASSAU, The Bahamas -- Prime Minister and Minister of Finance the Rt. Hon. Perry Christie said in the House of Assembly, on November 7, 2016 that in the aftermath of Hurricane Matthew, the lack of basic communication services and the ongoing recovery effort, his Government recognizes that more time is needed for licensees to avail themselves of the opportunity to apply for concessions available under the Grand Bahama (Port Area) Investment Incentives Act 2016.

"The amendment is proposed to extend the time for making an application under the Act from six months to ten months, and to allow the Minister responsible to extend the time period for the making of an application by Order," Prime Minister Christie said.

He pointed out that the current Principal Act is deemed to have come into force on May 4, 2016, and the demand deadline for making application was November 4, 2016.

Prime Minister Christie said that the Draft Regulations were prepared and were in circulation among stakeholders. The exercise to produce the framework for a "One Stop Shop" within Freeport was underway, he added.

"The 'One Stop Shop', which is needed now more than ever as a result of Hurricane Matthew, is intended to optimize the process for approving new businesses in the Port Area by harmonizing the agencies required for investor outreach and business development," Prime Minister Christie said.

He pointed out that more time was needed for public consultation before finalizing the Regulations and the "One Stop Shop", as well as putting in place the necessary administrative machinery and staff.

"Under Section 14 of the Grand Bahama (Port Area) Investment Incentives Act

2016, the companies listed in the Schedule and their existing affiliates, subsidiaries, and joint venture companies, existing at the time of the commencement of the Act, shall be entitled to the benefit of the concessions set forth in the Act for a period of 20 years, subject to fulfillment of their respective obligations under any existing agreement with the Government," Prime Minister Christie said.

"The Hutchison Group has indicated, as I have said, their considered view that the affiliated companies should also be named in the Schedule to the Act."

The opportunity, he noted, was therefore being taken to make amendment to list the affiliated companies in the Schedule and to allow the Minister responsible to amend the Schedule to the Act by Order.

As a vital part of the efforts being undertaken by his Government to bring relief and economic recovery to Grand Bahama in the wake of Hurricane Matthew, Prime Minister Christie stated, it is seeking to encourage Hutchison to repair and reopen their hotels, as well as to both restore the damages to the Container Port, while at the same time proceeding with the planned expansion to the Container Port.

"We shall also encourage and support the efforts of the Grand Bahama Port Authority and the licensees in Freeport, both large and small in their recovery efforts to benefit the economy and the people of Grand Bahama," he said.

Prime Minister Christie noted that the Memorandum of Understanding (MOU) made on April 26, 2016, between the Government of The Bahamas, the Grand Bahama Port Authority Limited, Freeport Harbour Company Limited, the Grand Bahama Development Company Limited and Freeport Commercial and Industrial Company Limited, will not only chart the course of further development in Grand Bahama, but provide for Government to become more directly involved in the affairs of the island.

"Assessment of damages, relief, clean-up and restoration of buildings and infrastructure continues unabated, he pointed out. "The water supply has been restored and, as of last Friday, Freeport Power had restored electricity -- we are advised -- to 90% of the customers with plans to restore electricity to the entire Island of Grand Bahama including West End by November 15th."

Prime Minister commended the citizens of Grand Bahama for the patience they have exercised in the aftermath of Hurricane Matthew.

"It has taken them a very, very significant time for them to get electricity and they have just so patiently accepted the position and, truly, demonstrated that we are a people of resilience and a people of the 'indomitable spirit' that we always talk about; and I join the Member of Parliament of east Grand Bahama (the Hon. Peter Turnquest) when he advocated the recognition of our people and their spirit of resilience," he said. 

Prime Minister Christie added that his Government had also appealed to Sunwing to restore their suspended flights as soon as the necessary repairs have been carried out with a view to reopening for the winter season.

"I am also pleased to report that a preliminary financial damage Assessment Report on Hutchison-owned properties was received from the adjustor on November 3rd," he said.

Prime Minister Christie pointed out that he had received various recovery and assessment reports and that he was advised that Memories and the Casino should be the first buildings to be restored.

"I have received reports of recovery from Freeport Harbour Company, from the Grand Bahama Shipping Company (among others)," Prime Minister Christie said. "They all indicate that repairs are taking place as one would expect them."