NASSAU, Bahamas — The Progressive Liberal Party (PLP) plans to streamline processes to make The Bahamas one of the most business-friendly countries in the world for local and foreign investors, according to Deputy Leader Chester Cooper, EYEWITNESS NEWS reported in its online publication on Thursday, September 2.
Cooper, while delivering an address at the party’s economic forum, stressed that getting the COVID-19 pandemic under control is key so that immediate focus can be placed on stimulating economic growth.
“Without economic growth, any attempt to increase government revenue would fail, businesses would suffer and unemployment would increase,” said Cooper.
Cooper noted that one of the ways to grow the economy is by lowering the cost of living and doing business.
“The fastest way to do that is by lowering the cost of electricity while moving toward renewable energy. This is low-hanging fruit,” said Cooper.
“The greater amount of energy generated by renewable sources, the more we would reduce our consumption of fossil fuels, reduce imports and retain our foreign exchange reserves. It’s a win-win for the environment, the economy and also BPL (Bahamas Power and Light).”
He noted: “A significant uptick in renewable energy generation could reduce the future capital requirements of BPL to meet future demands.”
According to Cooper, encouraging and facilitating domestic investment and inspiring trust and confidence by investors and the business community are priorities for the PLP.
“To that effect, we plan to revamp and streamline processes, to become one of the most business-friendly countries for local and foreign investors,” said Cooper. See complete EYEWITNESS NEWS article at https://ewnews.com/long-term-plans-plp-says-it-wants-to-make-bahamas-one-of-the-most-business-friendly-in-the-world?fbclid=IwAR31bXkP3TJfgeC5hP189m5-rmCJWcWDduDurTqWaSGQpzXUS3jkouDRc8M
