State Minister for Investments Khaalis Rolle yesterday said there is a “crisis in confidence” as it pertains to foreign direct investment here in The Bahamas.
In what seemed to be a direct hit to Free National Movement (FNM) Leader Dr. Hubert Minnis, Mr. Rolle suggested that Dr. Minnis’ recent statement on what an FNM government would do with Baha Mar scares off investors.
The FNM leader charged that in the event his party wins the upcoming general election, it will “engage and execute a real sale of the multi-billion dollar resort to a qualified and respectable purchaser who believes in Bahamians”.
However, Mr. Rolle feels it is comments like these that are detrimental to the local economy.
“We always have to be in a position, especially with foreign direct investors to have the option of investing in The Bahamas, investing in Jamaica, Barbados or anywhere else to give them the confidence that there is continuity in government, that a government will support their efforts to ensure that they create the environment that will give them a return on investment,” Mr. Rolle said.
“So when you say things like ‘when I become the government I’m going to do this, I’m going to sell that, I’m going to sell this, it creates a crisis in confidence,” he added.
Minister Rolle insisted a well-defined system will assist in the confidence and crisis issue.
“I’ve had investors say to me that ‘we may hold off until after the elections because we don’t know what’s going to happen’. ‘We don’t know that the government is going to be as interested in this project as you were if you’re no longer the government,” Mr. Rolle said.
The state minister’s comments came while appearing as a guest yesterday on Love 97’s daily talk show ‘Issues of the Day with host Wendall Jones.
Earlier this week, Dr. Minnis’ proclamation also gained criticism from Education Minister Jerome Fitzgerald who said the FNM leader is trying to use ‘bluster and deception’ to cover up just how little he knows or understands.
He said that Dr. Minnis should congratulate the many Bahamians who are receiving training and new opportunities.
Democratic National Alliance Leader Branville McCartney with similar sentiments this week called Dr. Minnis’ comments irresponsible.
