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IN THIS TOGETHER: PM urges business community to do its part to contribute to economic revival

Davis: Youth internship programmes, increasing base salaries and ensuring pay parity are first steps the private sector can take 

NASSAU, BAHAMAS — Prime Minister Philip Brave Davis yesterday urged the Bahamian businesses community to find out how it should contribute to the country’s economic revival, noting that the country will only succeed through constructive partnership with the business community.

Davis, who was addressing the thirty first annual Bahamas Business Outlook yesterday, said: “My administration can and can play its part in enhancing the macroeconomic environment of the country, but ultimately, it is barely in constructive partnership with you, members of the business community, that the country will succeed.”

Have you ever identified what role what you are promoting will play? Are you capable of look beyond short-term, narrow profit to see the probabilities of broader long-term gain?

– Prime Minister Philip Brave Davis

The prime minister questioned: “Have you ever identified what role what you are promoting will play? Are you capable of look beyond short-term, narrow profit to see the probabilities of broader long-term gain?

“How will you help to drive down the cost of living to support the commonwealth and the common good?”

Prime Minister Philip Brave Davis.

He added: “We should be willing not simply to speak of change, but to boldly bring it about.

“There isn’t any query that when people can higher provide for themselves, they’re prone to be more productive at work; they usually tend to use their earnings to drive the local economy; they usually usually tend to exercise lively citizenship — that’s, to take control of their lives and influence their society for the higher.

“How will you strive for a more just and inclusive workspace? What measures will you’re taking to put off anti-competitive practices, and the way do you intend to make sure what you are promoting affords respect and dignity to all its staff?

“Whether it’s in establishing youth-targeted internship programmes, increasing the bottom salary in your entry-level staff, ensuring pay parity in your workplace or supporting social campaigns, there are countless first steps that the private sector can take.”


Tapping into new economies 

Davis also noted that the green and blue economies represent areas of enormous potential growth.

“The efficiencies and trillion-dollar potential of those industries are areas wherein I’d like to see Bahamian businesses grow to be world leaders,” said Davis.

A neighborhood rake n’ scrape group practices their art as a component of the Lend a Hand Bahamas Rake n’ Scrape Programme before the onset of the COVID-19 pandemic.

He noted that he has appointed an “environmental and climate change tsar” within the Office of the Prime Minister to, amongst other things, support the federal government’s economic priorities.

“In an analogous way, opportunities within the orange economy abound, and one in all my policy advisors is specifically tasked with developing this remit,” said Davis.

He added: “We wish our culture to take a seat at the center of our tourism offering, and at the middle of our national life. The orange ‘creative economy’ represents one in all the best fiscal opportunities for our country.

“By weaving robust cultural policy into our national development plan, we aim to develop supportive frameworks which nurture Bahamian cultural staff and permit them to excel.

“Our vision is to have fun and market Bahamian culture — from sloop sailing to rake n’ scrape — because the foremost tourism product, nominating cultural ambassadors to advertise the country world wide.

“A 52-week schedule with ‘world-class’ creative events guarantees to further invigorate each the national tourism industry and native island economies.”

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