The Bahamas will shortly select a private group to establish a new statutory body, Invest Bahamas – an independent statutory body that would facilitate the investment process from conception to implementation.
The Finance Ministry is reviewing at least 7 bids received in response to a recently closed Request for Proposals (RFP). According to the RFP, Invest Bahamas would be, “a progressive, autonomous and integrated foreign and domestic investment agency that, among other things, will promote The Bahamas as a jurisdiction open for business for quality foreign direct investment, facilitate and in some cases approve foreign investment applications, and assist Bahamians in accessing business capital and appropriate financial concessions.”
A successful bidder would have to provide a new efficient and transparent investment approval process, review and approval of investment proposals. (NG)
Extract from the CARICOM BUSINESS Newsletter Vol 4 No 17
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