In order to attract technology firms, become more competitive in the information technology (IT) sector, and become the “Silicon Valley” of the region, The Bahamas has to get a handle on energy costs as well as the cost of internet bandwidth, founder and Chief Executive Officer of Global Sun James Clarke told Guardian Business recently.
According to Clarke, in some cases the price for high speed internet in the U.S. is one fifth of the cost in The Bahamas.
Clarke said that from a global perspective The Bahamas needs to have an understanding of what is going to attract large companies to come and set up their operations.
“We need to address energy, we’re not doing well,” he said. “The next thing is bandwidth.”
According to Clarke, private technology companies might have to lead the charge to get internet service providers to reduce the cost of internet activity. He said the Utilities Regulation and Competition Authority (URCA) might need to step in and take a look at bandwidth pricing in The Bahamas.
Clarke suggested the cost of electricity could affect bandwidth pricing, adding that both have to be considered if the government is to be successful in truly wanting to turn this country into an internet technology mecca.
Clarke’s company, Global Sun, provides end-to-end IT solutions that meet industry standards and follow global best practices. The company also specializes in management consultancy.
The government has used the Commercial Enterprises Act to attract IT companies to The Bahamas, especially into Grand Bahama, where it is attempting to grow the footprint of technology businesses.
Several companies have already taken advantage of the Commercial Enterprises Act, while government officials have embarked on several trips to visit large technology firms in an effort to convince them that The Bahamas is the ideal place to develop a hub.
Education: Florida International University, BS in Journalism
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