Freeport, The Bahamas – The
Grand Bahama Port Authority, Limited (GBPA) and its licencees are most
appreciative of the decision of the Government to extend those
concessions of the Hawksbill Creek Agreement which are due to expire on August 4, 2015 for a further six months.
asserted on behalf of its licensees that removal of the uncertainty
concerning the Government’s position on the expiring concession is vital
to collective efforts
to attract new investors and the expansion plans of existing investors
in the Port Area.
President Ian Rolle said, “We are also pleased that the Prime Minister,
in his remarks to the House of Assembly, has confirmed that the tax
concessions in question
are of great importance to the further economic development of the City
of Freeport, and the entire Island of Grand Bahama”.
Sarah St George GBPA Vice Chairman hailed this as a very positive development and indicative of the goodwill built
between all parties
during the consultation process with Government and the Special
Committee under Dr Marcus Bethel over the last months. She said, “We
thank the Prime Minister and his Government for this interim
extension and, as so aptly put,
for their recognition of the importance of the adoption of new measures
aimed at accelerating, broadening and sustaining economic
development in Freeport and Grand Bahama generally”.
Grand Bahama Port Authority reiterated that the company agrees entirely
with the Prime Minister that further detailed analysis and dialogue are
required with the
Government regarding immediate and long-term planning and indicated
willingness on GBPA’s part to do all within their power to expedite this