Foreign Firms Advisory For Doing Business in the Bahamas
Pictured above is Bradley Roberts. He is the chairman of the ruling PLP party in the Bahamas under Perry Christie. A few days ago, he announced that the government is cancelling a Reverse Osmosis contract that it signed with a foreign based company to provide water in New Providence.
This comes on the heels of the PLP party who just gained an election win earlier this year in the Bahamas, would renegotiate the privatization deal that the previous administration concluded with Bahamas Telecommunications Corporation when it sold 51% to Cable & Wireless operating under the Lime Brand.
It seems that this parochial government is playing petty politics and tribalism when it comes to honoring contracts that it has signed with foreign companies. Cynics claims that the party and hence the government is cancelling these contracts to re-award them to partisan hacks. This government when it was in power from 2002 until 2007 was one of the most corrupt in modern Bahamian history with the Shane Gibson/ Anna Nicole Smith fiasco, the cabinet minister with a closet full of money, a rock-em, sock-em fight between Cabinet ministers, huge losses at the Ministry of Housing and widespread corruption through every facet of the government. Many of those same corrupt ministers and members of Parliament have been re-elected.
Foreign companies wanting to do business in the Bahamas, face several risks, but the biggest one is that they could see their contracts nullified on a political whim.
Labels: Business in the Bahamas