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Chairman: “I Think It Will Actually Affect The Family Islands The Most”

NASSAU, BAHAMAS – The prime minister delivered a national address earlier this week, announcing several initiatives expected to impact the business community throughout the country.

Published

2 hours ago

January 12, 2025

Denielle Miller

NASSAU, BAHAMAS – The prime minister delivered a national address earlier this week, announcing several initiatives expected to impact the business community throughout the country.

Deputy Chairman of The Bahamas Trade Commission talks to Our News about the expected benefits of the new initiatives.

Prime Minister, Philip Davis, revealing several of the administration’s economic plans for the year ahead.

Including a National Trade Diversification Program, competition legislation and the reduction of value added tax on food items.

Senate Vice President and Deputy Chairman of The Bahamas Trade Commission Barry Griffin weighing in, as the commission played a key role in crafting the initiatives.

Griffin says over the last two years the commission has met with business owners, consumers and international partners to discuss a number of structural and deeply rooted issues.

These issues he says, contribute to the high prices of goods and services in this country.

As for what this means for budding entrepreneurs, Griffin says, “We are going to see lots of new entrance to the market place we’re going to see laws that stop monopolistic practices amongst businesses and so this really is an historic moment its one of the largest economic reforms the country has seen in its modern history.