Sea Breeze MP, the Hon. Carl Bethel announced some $9 billion investments into the country in the last 10 months of the FNM.
Nassau, The Bahamas – Sea Breeze MP, the Hon. Carl Bethel announced in parliament Wednesday that since coming to office, the FNM government has approved over $9 billion in touristic and business development projects throughout The Bahamas, including over $1 billion in investments for Grand Bahama.
What is interesting in all is this great news coming out of the ministry of finance is that Carl Bethel the minister of education. We at Bahamas Press thought the Prime Minister allow his now ‘Scandal Ridden’ junior minister Zhivargo Laing make such announcements. Is Zhivargo Laing still the serving Minister of State in Finance or is Carl Bethel acting in that office?
Minister Bethel announced that over $1 billion in approved developments for Grand Bahama includes the $900 million investment for the purchase of the BORCO facility in Freeport. The buyers will pay $40 million up front to the government in stamp tax on the sale of the facility.
Minister Bethel pointed out that the FNM approved over $9 billion in investments in less than 10 months, compared to the five year period in which the PLP approved what it claimed was $29 billion in foreign direct investment for the country.
The details came during the Minister’s contribution to debate on the government’s Bill for an Act to Amend the Local Government Act to allow for the approval of wooden docks by Local Government Councils in the Family Islands.
This Bill, the Minister pointed out, is in keeping with the FNM’s philosophy of improving the rights of local communities and giving them a greater say and more autonomy to chart the course of their own development.