Freeport in Shanghai

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Officials of the Grand Bahama Port Authority's Business Development Department recently took part in the Free Trade Zone & Special Economic Zone Summit held in Shanghai, China recently.

 According to a report, more than 400 senior executives and investors from China's most powerful, private & state-owned enterprises, along with representatives from countries around the world, were in attendance at this Free Trade Zone & Special Economic Zone Summit held in Shanghai, China. 
While there the Grand Bahama Port Authority, Limited (GBPA) showcased the value of Freeport and competed for Foreign Direct Investment (FDI) opportunities that could be made possible by way of China's increasing Outbound Direct Investment (ODI).

 Sr. Manager of Business Development for GBPA, Derek Newbold, in an exclusive speaking opportunity, prominently featured Freeport as the Free Trade Zone of The Bahamas, which provides access to key western markets by virtue of its proximity to North, Central and South America.

 He stated that "Most FTZs/SEZs are directly or indirectly administered by Governments with the ability to legislate. However, our centralized location in the western hemisphere, modern infrastructure and low-tax environment remain attractive features."

 Newbold also took advantage of the exceptional opportunity to have one-on-one meetings with first-rate prospective investors to explore outbound investment opportunities. Preliminary discussions on attracting significant investment projects appeared promising as potential investors showed keen interest in regional collaboration.

 He later commented that "It was encouraging to see the interest level in Freeport among participating companies seeking to expand to foreign jurisdictions." 

 GBPA President, Ian Rolle added that it is important for GBPA to continually take advantage of opportunities to promote Freeport, the FTZ of the Bahamas, at premium platforms for business development, since numerous companies across the globe are now seeking to expand to foreign territories.

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