Deputy Prime Minister Chester Cooper, who has responsibility for investments, recently sat with about ten investors who have pending projects, after committing during his party’s election campaign to get projects that are stuck in the investment pipeline moving.
Cooper said there are a large number of projects waiting to get the green light to begin and he contended that some of these projects have the capacity to help the country’s economy along. He said that he wants to see many more “shovel-ready” projects for The Bahamas.
“There is a significant level of projects in the pipeline,” Cooper said.
“We met last week, the Ministry of Tourism and Investment team along with our parliamentary secretary. We met with at least ten developers who all have projects in the pipeline.
“I’m very excited about what I see. There can never be enough and you know these projects take time to get off the ground.”
Cooper made the remarks while touring the site of Sterling Commons on Paradise Island, a project he touted as being one of those investment projects that will sprout green shoots in the economy.
“This is what we need to move our economy along, to get the economic growth that we need and to keep our country growing, coming out of a difficult season,” he said.
“It’s important that we see more visitors, that is why I’m so happy to be here today. This is the type of spot that we need to see more and more in our country. I want to ensure the investment community, the business community, that the new government is very business-friendly, very investment-focused and we recognize to build and grow our country, we need projects like this one.”
Cooper said tourism stakeholders have explained that tourism numbers are improving into the end of the year.
He said it is his government’s goal to take tourist numbers back to pre-pandemic levels as soon as possible.