Peter
Nygard, internationally-acclaimed fashion designer, has a positive outlook on
the future of the Bahamas for investors now that the new administration is
settling in. The Progressive Liberal Party reclaimed the reigns of power
from the Free National Movement on May 7, 2012, with the widespread support of
the public, who viewed the FNM as a discriminating government that did not lay
out an equal playing field for citizens and investors.
There
were hopes as bright as the golden colors of the PLP when they first came into
power, but the wheels turned much more slowly than they expected, after finding
out just how much damage the former administration had done. But now, it
appears that the government is forging ahead with its plans that had begun
execution during the 2002 - 2007 reign. Those plans left wide open
invitations for foreign investors to consider the Bahamas a place worthy of
investing. They were and are looking for the type of investor who will
not see the Bahamas as just a playing field to frolic in the sun. They
wanted people who would fall in love with the country and its people, and
become a meaningful part in the nation's growth, as so many investors
successfully did during the 25 years that the Father of the Nation Sir Lynden
Oscar Pindling was at the helm.
Nygard
is just this kind of investor. For the past 20 years, he has proven a
commitment to the Bahamas that should stand as a beacon for all other investors
to follow. His love for sports as led him to invest heavily in the
national past time, regatta sailing. He has sponsored camps for boxing
prodigies; thrown heavy support behind volleyball athletes who wanted to
specialize in beach volleyball; and supported the sport of tennis. In
addition, he has been a major source of inspiration for the Bahamas Olympic
team, having given tens of thousands of dollars worth of personal cheques to
Olympians like the Golden Girls. They received an additional $2,500 each
from him on their anniversary. Most recently, Nygard was one of several
private benefactors who gave cash gifts to the 2012 London Olympians the Golden
Knights.
 |
| Nygard, the Golden Girls, and former Minister of Sports Desmond Bannister |
He
is optimistic about the future for the Bahamas and investors like him because
of the youthful and energetic cadre of Ministers that sit in the current seat
of government. Prime Minister Christie, he feels, made some good
decisions such as placing Khaalis Rolle and Ryan Pinder to take care of
financial and investment matters; placing a revolutionary like Jerome
Fitzgerald to head education; having a young veteran like Obie Wilchcombe lend
his years of experience to the Tourism industry once again; giving Ken Dorsette
the leverage to manage the way forward for energy; and so many others.
Surely,
fresh and unbiased views in the Cabinet should lead to better choices when it
comes to deciding on investment matters. In this case, Nygard was
unfairly denied permission to rebuild his home by the FNM after a mysterious
fire damaged a large portion of his home, which was once the subject of
television shows and magazines, highlighting the Bahamas and his magical home.
He is prepared to spend $20 million and employ a minimum of 300 Bahamians
over the three year-period it will take to rebuild Nygard Cay.
Hopefully
the Government sees the wisdom in making good on its principles with investors,
before ones like Nygard lose all faith in the country.
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