GRAND BAHAMA PORT AUTHORITY WELCOMES EXTENSION

health times;”>GBPA 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.  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.

GBPA 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”.   

The 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 process.