Dreaming of investing and planning a development in the tranquil Bahamas? By all means dream and keep dreaming, as the project will become encumbered with lengthy government approvals dismissing all investors, local or foreign, except those with an open checkbook or the secret to immortality.
Our government is our greatest ally and foe. While seeking to protect our land, the bureaucratic departments to process such development proposals are inadequately staffed, or act ineptly, extending the review period in excess of six months or even several years.
Only the most forthright developer with an inordinate amount of patience can wade through this tangle of approvals and still decide to invest.
Of course we must protect our natural resources and cultural heritage. Bahamians this past election apparently took to heart the Progressive Liberal Party (PLP) campaign slogan to “Believe in The Bahamas”.
But how can we believe in a Bahamas that stymies its own growth? If we do not have the capability to process the smaller developments in tandem with proposed ‘anchor’ projects, how can the small developer survive and proliferate?
There is much talk about encouraging more Bahamian ownership of Family Island hotels and resorts but we have seen little action. Where are the incentives for Bahamian ownership?
