By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The deputy prime minister yesterday asserted that the $150m in infrastructure investments underway on Exuma are “more than we’ve ever seen in any five-year period in modern Bahamian history”.

Chester Cooper, also minister of tourism, investments and aviation, told the Exuma Business Outlook conference that this figure does not include the $60m targeted at the transformation of both Exuma International and Black Point airports.

“Not including the $60m being put into airport terminals, Exuma & Ragged Island has underway more than $150 million of investment in infrastructure. This is perhaps more than in any other five-year period in the history of the independent Bahamas,” he said, referring to road and Water & Sewerage Corporation improvements.

He added that planned upgrades to Exuma International Airport, financed by the Saudi Fund for Development, will begin once the funds are disbursed and take 12 to 15 months to complete. “We have the funding already lined up with the Saudi Fund for Development. They are ticking the boxes and once they’ve finished ticking the boxes, they’re going to release some money to us,” said Mr Cooper.

“When they release the money, which is hopefully going to be soon, we’re going to start. Once we start, everything is in place, the materials are here. We anticipate 12 to 15 months to complete from the time when we start.”

Mr Cooper said upgrades to Exuma International Airport’s terminal are a “long-standing project” due to difficulties in securing funding, but so-called ‘air side’ work on the runway, taxiway and aircraft aprons is continuing. The Black Point airport’s renovations are also out to tender with plans to extend the runway to 7,000 feet rather than the original 6,000 feet.

“Infrastructure development has also been a priority for our administration. We recognise that in order to sustain growth, we must invest in the infrastructure that will support it,” said Mr Cooper.

“The Exuma International Airport, which has been a long-standing project, is finally getting going after overcoming several funding challenges, now funded by the Saudi Fund for Development. Works on the runways and taxiways are continuing.

“Black Point airport is now out to tender. Once operational, the new international airport will serve as a critical hub, enhancing our connectivity not just within The Bahamas but also with our international partners. This will open up new markets and provide Exuma with the infrastructure needed to support increased tourism and business activity.”

Outlining tourism’s strategic direction on Exuma, Mr Cooper said there is “very little” interest in allowing mega cruises to visit the island. He added that Exuma will continue to cater to stopover guests and, while some small cruise lines will visit the island occasionally, there is “very little” interest in accepting calls from mega cruise lines.

“I want to add that we have no cruise visitors in Exuma… and we hope to keep it that way,” said Mr Cooper.

“We believe that Exuma is an environment and a marketplace that caters to families, stopover visitors, persons who want to come to enjoy the beauty of our islands. We’ve had some small cruise lines visit Exuma. We anticipate that we will still have them from time to time, but we have very little interest in recognising or accepting the mega cruise lines to the island of Exuma.”

Mr Cooper said support is also being given to entrepreneurs through the Tourism Development Cooperation (TDC), the Bahamas Development Bank (BDB) and the Small Business Development Centre (SBDC).

“We will continue to work with entrepreneurs as we have done with the recent grants to fly-fishermen. Also, as we are doing with the TDC’s incentives for vacation rentals. The TDC has allocated $1m and the Bahamas Development Bank, $1.2m to this programme,” said Mr Cooper.

“Overall, the BDB has new funding of $30m and the TDC has new funding of $20, and with the SBDC and Venture Fund that means more than $60m for entrepreneurs. Of course, we will ensure that Exuma gets its share.”

Mr Cooper said Exuma has over $1.5bn of ongoing investment projects, including a $150m development at Torch Cay and Rosewood Exuma’s $250m project on Sampson Cay. “We have seen substantial investments across various sectors, with over $1.5bn in ongoing projects that will continue to shape Exuma’s future,” said Mr Cooper.

“We are now seeing these projects coming out of the ground. These include the development of new hotels, resorts and marinas, which will not only increase our capacity to welcome more visitors but also create opportunities for local businesses to thrive. For instance, the development of a new resort destination, marina, airport and golf course on Torch Cay will represent a $150m investment in Exuma.

“Rosewood, one of the top luxury brands in the world, will flag the $250m development in Sampson Cay. We are also seeing developments on Little Sampson Cay, Big Sampson Cay and Elizabeth Island, all of which will contribute to the diversification of our tourism product and provide further opportunities for local entrepreneurs.”