As an outsider, there is always the danger of not having the full picture, but it seems any such easing fits in with the FNM government’s efforts to modernise, deregulate and liberalise the economy and with the intent of the Commercial Enterprises Act. It is also consistent with the nation’s application to join the World Trade Organisation which is claimed to be essential to secure long-term economic growth.
I found equally interesting the remarks reported in last week’s Tribune by Frederick Smith about the need to adapt immigration rules for investment and development purposes – he described The Bahamas as having been ‘choked by oppressive, repressive, discriminatory and abusive immigration policies’ – but what also struck me was his reference to aspiring to be like Singapore. That is an old chestnut that has always intrigued observers of this country who wonder why The Bahamas has not been able to emulate Singapore in building such a dramatically successful economy. Read more >>