With several large investment projects slated for Grand Bahama, some of which have already begun, Minister of State for Finance Kwasi Thompson declared yesterday that Grand Bahama’s recovery is “set to take flight”.
Thompson, who gave the keynote address at yesterday’s Grand Bahama Business Outlook, outlined several key projects, including those by two major cruise lines that are set to move the island’s recovery full speed ahead, after Grand Bahamians endured two economically devastating years caused by Hurricane Dorian followed closely by the COVID-19 pandemic.
“Fortunately, today we can renew our faith and hold firm to our belief in Grand Bahama, because we are at a major turning point on our difficult road to recovery,” Thompson said.
“It took many months to complete critical public works projects that were essential for the recovery. It took many months to complete delicate negotiations on significant projects that were central to the recovery.
“Some frustration and skepticism may have crept in during the wait, but I am here to reassure you that Grand Bahama’s recovery is set to take flight.”
Thompson said Royal Caribbean International and the ITM Group, which formed Holistica for the Grand Bahama investments, are making progress on their negotiations around redeveloping Freeport’s cruise port. Thompson explained that the government continues its work to finalize the sale of the Grand Lucayan resort to Holistica.
Thompson also gave the assurance that Carnival Cruise Line’s port project is moving ahead.
He also outlined projects like the completed first phase refurbishment of the Rand Memorial Hospital; the government’s completed acquisition of the Grand Bahama Airport; the first phase construction of Western Atlantic University School of Medicine, which has started, and Royal Caribbean’s six-month home porting initiative as just some of the contemporary wins for Grand Bahama’s economy.
Thompson also mentioned the proposed $130 million Weller Development or “Discovery Bay Project”, which is expected to include a small format marina, retail pavilions, for-rent villas and for-sale estates. He said the government recently approved the development, which is expected to create 100 jobs.
And he added the Doctors Hospital Cleveland Clinic project into that mix of economy starters to come, calling it a “non-traditional investor” project.
He explained that Doctors Hospital’s flagship facility is a partnership with the Cleveland Clinic and is planned for 2022.
“Each of these projects and the many others underway have set the foundation for Grand Bahama’s recovery to take flight,” Thompson said.
“We now have tangible signs of this, elements that we can see and experience first-hand, which will serve as the footing for continued improvement.”
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source https://thenassauguardian.com/thompson-outlines-various-investment-projects-in-grand-bahama/
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