Key government officials gather to streamline inter-agency operations and enhance investment opportunities.
NASSAU, BAHAMAS – The Bahamas Investment Authority recently held its first-ever all-directors meeting at the Paul Farquharson Conference Centre, Royal Bahamas Police Force Headquarters. The meeting, led by Mrs. Phylicia Woods-Hanna, Director of Investments, convened technical heads from key government ministries and agencies to address challenges in supporting both foreign and domestic investments.
The primary focus was on enhancing inter-agency connectivity to streamline business operations and optimize investment opportunities for both Bahamian and foreign investors. During the meeting, participants engaged in brainstorming sessions, openly discussing new and ongoing issues that hinder meeting investor expectations. They explored ways to transform the business environment through updates to policies and improvements in procedures and practices, while maintaining existing standards.
Director Woods-Hanna expressed optimism about the outcomes of the meeting. “We are poised to develop strategies that enhance communication between agencies and synchronize our efforts to bolster our institutional capacities, especially in support of the Foreign Investment regime. This is vital for the growth of small businesses and the development of skilled and professional tradesmen across the nation,” she stated.
Future meetings are planned to discuss the creation of an online platform for sharing project proposals, an electronic Project Location Map for each island, and strategies for improving feedback and information dissemination concerning legislative, policy, and procedural changes.
These regular stakeholder meetings aim to propel government business efficiently and effectively, and thus improve the ease of doing business in The Bahamas.