Strengthen research & development as one of the key attraction points for Venture capital investors seeking to fund Bahamian companies in High Tech and light manufacturing of products which can account for nearly $300 million annually in export performance. The next Member of Parliament for MICAL should seek to achieve the following:
MICAL’s Path forward>>
Petition Government to create an environment where adequate financing and credit are available to spur manufacturing and expansion, reducing the high volume of imports we are experiencing today.
Petition government to facilitate the establishment of a cooperative to create a straw exchange that will purchase for resale of all plaits that meet the standard set by the exchange.
Take major steps to capitalize and Revitalize the sponging, salt, cotton, and cascarilla industries.
Petition government to make Souvenir & textile manufacturing development an economic priority with accurate goals set for the expansion of this sector.
Petition government to Offer Incentives to entice & invite strategically identified international investors & industries to partner with Bahamian entrepreneurs to establish High-Tech and Light manufacturing ventures in the Bahamas.
Lobby for funding to establish a National Research & Development Institute (NRDI) in MICAL.
The creation of Enterprise Bahamas (EB) a government organization responsible for the development and growth of Bahamian enterprises in world markets. Enterprise Bahamas is an assessment & grant system design to place a much greater emphasis on commercialization and job creation. Its purpose is to work in partnership with Bahamian enterprises to help them start, grow, innovate, and win export sales in global markets. In this way, we support sustainable economic growth, regional development, secure employment, and wealth creation.
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The Path Forward is a 20-year Development plan designed to generate economic growth and to develop sustainable economies in Mayaguna, Inagua, Crooked Island, Acklins, and Long Cay (MICAL). The ideas, initiatives, and programs mentioned in this document were written as a guide mapping out an economic development path forward for the southern islands of the Bahamas.
By Andy Hanna.