AGP Executive Report
Last update: 2 hours agoTransport Costs: Taxi drivers say soaring fuel prices have pushed the industry to breaking point as the union awaits government relief; service-station operators are also calling for action as pump prices approach $8 a gallon. Investment & Trade: At Diplomatic Week, Prime Minister Philip Davis pitched The Bahamas as a shipping and transshipment hub and urged investment in sustainable farming, agro-processing and clean energy. The government also plans tailored agreements to attract substantial family offices. Energy: At the CARILEC conference, Energy Minister JoBeth Coleby-Davis said renewable power, storage and grid upgrades are key to reducing exposure to volatile fuel prices; the government targets renewables for 30% of electricity needs. Tourism: Tourism Director General Jackson Weech said officials are cautiously optimistic about continued growth in visitor numbers this year. Cruise Development: MSC’s proposed Grand Bahama terminal could create up to 320 permanent jobs and 350 construction jobs, with its first phase targeted for 2028. Supply Chains: Tropical Shipping plans an 11.1% freight-rate increase from November 8, raising concerns about higher costs for Bahamian businesses and Christmas shoppers.
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