Business

FNM made moves to create Bahamas as technology hub

By Blox Content Management

Copyright thenassauguardian

FNM made moves to create Bahamas as technology hub

Dear Editor,

It was interesting to read a recent editorial and story about the United States’ visa program and a suggestion that The Bahamas take advantage of the fee hikes and create a technology hub.

For those with short memory, the Free National Movement was way ahead of the current Trump administration’s move on the HI-B and made deliberate initiatives to secure a part of this business. So what did they do?

1. They passed the Commercial Enterprise Act and provided fast track approval for specialized persons required to create start-up businesses in a number of specialized fields, underrepresented or not represented at all in The Bahamas.

The act provides for immigration status and business license to be deemed approved if no response is given to an application from either government agency within 14 days, unless there are extenuating circumstances.

The list of qualified industries is listed in the act but it included high and nano technology, micro biological study and development etc.

The Progressive Liberal Party vehemently opposed this act and if I am not mistaken, repealed it or at least the immigration provisions it contained, a sad mistake and tacit endorsement of inefficiency and corruption.

2. They started the Tech Hub initiative in Grand Bahama with BTVI, teaching high school students how to code.

3. They embarked on several trade missions to promote The Bahamas initiative throughout the United States.

4. The initiatives landed at least one tech company, which has since unfortunately closed due to poor management and other investor issues.

Remember, this was in 2018!

Ironically, the FNM administration also created the country’s own HI-B type visa and golden passport program. Of course, that was opposed by the OECD but now we see Mr. Trump’s gold and platinum visa programs. Let’s wait and see the OECD’s response to that!

— Ryan Thompson