Never good when a government apparently seeks to "extort" the private sector, particularly strange to seek arbitration given the potential for disclosures of breeches by the Government with respect of the H.C.A.
Not that the Port is golden by any means. No doubt they will seek closed hearings. Arbiters hopefully with have a different position given the statute law nature of the agreement.
Public disclosure is a good thing.

LaRoda trying to claim the increases are an adjustment for inflation over 20 years is ludicrous. 1000% for inflation? Nor will US flagged vessels register here because they eliminated duty.
Duty/Vat is a one time cost, registration is annual.
Stupidity at its finest.

Abandoning Rule of law in the late 60’s/70’s/80’s/present in favor of rule by connection, and now you think you can change it? Those who give up freedom in exchange for security end up with neither. Name a country that has reclaimed law and order without dictatorship/economic ruin/bloodshed including the innocent. The road blocks were legally challenged 20 years ago, government backed down, realizing the unconstitutional aspect of them.

Duty free shopping is an old "go to" which is irrelevant in todays online retail market.
There is potential for Freeport in the transshipping and Market showrooms environment, but that alone won't revive Freeport. Panama is a market extension/showroom for China and to a lesser degree South American products.
The issue that has beset Freeport and Grand Bahama is the dual Governance complexity, with all governments in apparent ignorance of the H.C.A. benefits to the whole country, and repeated attacks by Government via immigration and Bahamas Customs.
All well documented via the dozen lawsuits filed and won against the Government, and two Royal commissions of inquiry. East and western Grand Bahama suffer the same fate as all other out islands, Government abandonment.
Out islands have taxation with little to no representation, and certainly little to no infrastructural investment.
Remember, Governments control by saying no, not by enabling and saying yes, go ahead, do it.

I am curious about the upgrades to ham and turkey?

inadequate/incompetent self governance creates discontent and malcontent citizens.
Both Parties have ignored their constitutional responsibilities and branched out into all manner of empty promises in any and all other directions.
Now they are drilling holes in the economy via taxation so they can continue their reckless/outlandish spending. Nothing will change until there is nothing left.

Sure seems the Government wants more revenue but trusts no one, when they provide zero accountability or trustworthiness.
Sure gives the private sector reason for pause.

I've heard more than one accountant has said they aren't signing off on anyones books anymore. The prep work for an audit of this nature is something that could need compiling over the course of a year.
Once again Government, thanks for the notice.

When the cronyism gets 3 generations deep you're in deep trouble.
When appearances no longer matter everything becomes apparent.
When the crooked can't help themselves, they help themselves even more.

Don't forget, Government is putting in requirements for future taxes. The IMF etc are applying pressure for transparency from the private sector that the Government doesn't provide on itself.
All of this is going to get costly and onerous, and lets not forget inland revenue Customs etc don't exactly possess core competencies.
They just carry a stick.