Discussions on the framework and regulatory procedures to encourage and support crypto currency assets and related instruments will be a key talking point at the Grand Bahama Technology Summit, as Prime Minister Dr. Hubert Minnis says steps must be taken to position the country as a technology centre of the region.
While presenting the keynote address at the Tech Summit, Dr. Minnis said that companies utilizing the blockchain technology as a basis for products and services “represent the genesis of a new wave of innovation”.
“There is no reason why these new blockchain technology companies that have their eyes on global markets cannot have their base of operations here in The Bahamas.
“A recent release by The Central Bank of The Bahamas on crypto assets stated that we must ‘enhance the sector’s competitiveness without compromising the integrity and international reputation of The Bahamas, or undermining the financial safety of Bahamian households’,” Dr. Minnis said.
Dr. Minnis added that in an effort to make The Bahamas more attractive to blockchain tech companies, immigration policies and procedures will be revamped.
“My Government is revamping our immigration policy and procedures to support our desire to attract new enterprises to our shores.
“We will make our immigration policy more attractive for investment. We are now considering draft legislation to create a special BH1B Visa in keeping with recommendations made by the Grand Bahama Technology Steering Committee,” Dr. Minnis said.
And as the government puts Bahamians in a position to take greater advantage of technology, Dr. Minnis recognized Grand Bahamians enthusiasm for their island to become a technology hub.
“This year, my Government made The Bahamas Technical Vocational Institute (BTVI) tuition-free for qualifying students. We have seen tremendous results from this decision.
“In Grand Bahama, overall enrollment has increased by some 70 percent. I am extremely pleased to report that in ICT courses, the increase was 97 percent.”
Dr. Minnis further encouraged attendees at the summit to take advantage of programs such as associates degrees and certificates in Business Office Technology, Information Technology Management, and Software and Network Engineering, which are free of charge to all Bahamians who qualify.
“My Government is also committed to making The University of The Bahamas, including its ICT Programs, free of charge beginning in 2019.
“Under our administration, every Bahamian who qualifies, will have the opportunity for free tertiary education, including ICT qualifications,” Dr. Minnis said.
The three-day summit is being held under the theme “The Future is Now”.
Participants will hear from a full slate of global speakers on various aspects of current world digital transformation.
The tech summit closes out on Friday, November 16.
