Flipping Grand Bahama

E-commerce, something that has been talked about for years, is finally being upped for the business licensees of the Grand Bahama Port Authority. The Port announced plans for an E-business initiative between them and the Bank of The Bahamas which aims to equip local businesses with basic tools to expand their customer reach and increate prospects for greater success. Now the customer bases is not just local, but global. Yes investors are welcomed to bring new one more business, but for those at home needing more of an audience has found their way into the stream that opens them to billions of consumers. The theme for the training is called "Revolutionise Your Business with E-Commerce" and is focused on the virtual environment, and how local businesses can capitalise on its advantages. Attendees will experience a full day covering day topics including the acceptance of e-payment. Training has been set for Wednesday April 20th and Thursday April 21st at the Pelic

The following is a statement by the Governor of the Central Bank Mr John A. Rolle  In its role as Controller of Exchange in The Bahamas, and in line with its commitment to conduct periodic reviews of Exchange Controls, the Central Bank, after consultation with the Government, is pleased to announce additional liberalisation of measures and processes governing capital account (investments and borrowing) and current account (trade) transactions. These measures take effect on April 1st 2016. The current account items involve increased delegated authority for Commercial Banks and Money Transmission Businesses (MTBs), in respect of imports, education-related remittances, small gifts to non-residents and transfers outside The Bahamas by work permit holders.  On the capital side, areas affected include investments abroad, and borrowing inside the Bahamas by temporary residents and work permit holders. These reforms are expected to result in enhanced efficiencies for both reside

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

The Grand Bahama Port Authority, Limited (GBPA), announced plans for an E-Business initiative, which aims to equip local businesses with basic tools to expand their customer reach, and increase prospects for greater success. This initiative works out to be a workshop that will be held tomorrow at the Canal House, Pelican Bay Resort. As its theme suggests, “Revolutionize Your Business with E-Commerce” the training will focus on the virtual environment, and how local businesses can capitalize on its advantages. Attendees will experience a full day covering key topics including the acceptance of e-payments. During a press conference to announce the training, Derek Newbold, Senior Manager of Business Development and Invest Grand Bahama  said that statistics has shown that a significant amount of consumers will research options online prior to conducting a purchase. He went on to say, “This means…if you don’t have an online presence, chances are these consumers are doing business with

Well... there is quite a bit going on in Grand Bahama and many announcements being made. Last week there were several announcements but today we will talk about PharmaChem. According to their release, "this new state-of-the-art facility, supported by Gilead Sciences Inc., will provide life saving drugs. The site on West Sunrise Highway was acquired by Mr. Pietro Stefanutti in 2002, and during the ground breaking he said the time has come to take another step ensuring that PharmaChem is a viable and sustainable operation for years to come. This expansion is said to be costing $130m, and also it is expected to generate an economic impact on Grand Bahama's economy of about $40-$50 million resulting in over 100 contractors being employed on the project. In an overview of the partnership with Gilead Sciences, Stefanutti said that in 2003, a non disclosing agreement was signed between the companies to determine to path for the manufacturing of an HIV compound on the