Prime Minister Davis addresses the 31st Annual Bahamas Business Outlook


Prime Minister Davis addresses the 31st Annual Bahamas Business Outlook



In his keynote address at the 2022 Bahamas Business Outlook, held virtually this morning, Prime Minister Philip Davis petitioned members of the business community to actively partner with the government in guaranteeing the economic success of the nation. 

Speaking under the theme “Beyond Recovery into Growth,” Prime Minister Davis outlined that while the government has appointed a debt management committee and established a revenue enhancement unit, the private sector must also be dynamic in its efforts to promote financial resilience and stir economic growth throughout the archipelago. 

The Prime Minister cited several first steps the private sector might take, whether establishing youth-targeted internship programmes; increasing the base salary of entry-level workers; ensuring pay parity in the workplace; or supporting social campaigns. 

In addition to private partnerships, two pillars were identified as central to economic recovery in the country: the first being the new Orange, Blue, and Green economies, and the second being unique business opportunities that arise in seeking to uplift the Bahamian people. 

The Prime Minister reiterated that although policy leaders have been appointed to drive development in those sectors, the government will not be the sole actor securing a better future for the country. Indeed, the Davis administration is committed to fostering sustainable economic partnerships with industry stakeholders and private enterprises. 

“It is no secret that the entire commercial sector stands to benefit,” the Prime Minister stressed, “from investments in youth education and critical infrastructure. Active citizenship will be key to growth.”

The keynote address was followed by expert talks, panels, and interviews covering a range of financial matters, from embracing change in the tourism industry to a digital transformation already in motion. The event, held annually, was organized by The Counsellors Ltd.