The Tribune reported that the Minister of State in the Office of the Prime Minister had this to say about the investment report made by the U S Government about The Bahamas. His remarks were published on 4th July:
“The only thing I can say about (the report) is the specific claim about government interference with applications has to do with two very specific issues, tadalafil drugstore one the BEC privatisation and reconstruction process where there is an American company that has been lobbying many government ministers … the other a company wanting to establish a hospital.
“If they want to have a balanced discussion and if you want to talk about undue influence of government, cialis sale US government officials made representations to us on behalf of these companies
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. Representations and lobbying were made even with BEC.
“There was an American company that came to see us with a representative of the American embassy and we entertained them. They wanted to establish a hospital here and we said we would look at the proposal and determine where to go. I know there was some representation made in the papers about it. When the announcement was made, we got calls and scathing criticism locally, including from Doctors Hospital…
“The mere fact that the government has turned the process (on BEC’s privatization) over to KPMG indicates we didn’t want to get involved or be only influenced by one entity. We wanted an objective partner; we wanted to ensure a fair and transparent process to determine BEC’s future.
“As for the company that wished to establish a hospital here, the government will not sanction its plan. We have a hospital system in place.
“You can’t go to any country in the world and tell them what they should do. Why come to the Bahamas and do it? The statement was out of order and it does not reflect the relationship the Bahamas government has with the US government. It’s not good for our ongoing relationship since clearly every foreign direct investor does not have that complaint…
“I am surprised at the US State Department’s assertion that the government does not support its claims of transparency with legislation.
“This is the same regime for many, many years. There’s never a complaint about it up until now. In all of their statements on investment climate, under first PLP administration, under FNM administration, never a complaint and we had the same legislative regime and national policy. Therefore, I find it strange and I find it curious that a statement like that would be made given the fact that we have a process that I believe reflects in many instances our desire to do business the right way.
“People must respect the fact that various processes require different government responses.
“Brookfield and Atlantis is a major transaction and process and we were able to turn it around in a short period… But when you’re liberalising the telecommunications sector or giving control of your national assets, it’s not something you take lightly, you do it strategically and with an aim to protect your natural interests…
“Foreign direct investment must be balanced with local investment.
“Every foreign direct investor is not entitled to be given what they want,” he said. “There’s a process. The government will evaluate the process and protect Bahamian businesses. Many Bahamian companies don’t have the same access to financing that American companies have. In many instances we have to ensure that any decision does not put Bahamian businesses at a disadvantage.
“We love foreign direct investment, we appreciate it, but it must be balanced.”