“It makes me proud as a citizen of a small, sovereign island nation, that our forefathers were able to transform an economy into this vibrant financial centre,” he said. “Our history as a financial centre shows progressive, forward-looking vision, constantly developing based on innovation. “Our traditional comparative advantages, together with the common law tradition, an attractive legislative and cost structure and an investor friendly business climate, catapulted The Bahamas to a household name as an international financial and business centre.” Minister Pinder said The Bahamas has seen tremendous benefit, in terms of incomes from that development strategy. “We saw the development of an upwardly mobile middle class. We saw the quality of life and standards of living breaking away from our Caribbean peers,” he said. “Today, The Bahamas is considered a wealthy economy — a high-income country.” Minister Pinder cautioned that the “Shift” today, however, requires continued innovative activity in order to maintain and grow our centre. “Gone are the days of The Bahamas competing against Cayman and Isle of Man,” he said. “The Shift has meant that The Bahamas must now compete against New York and Geneva.”
Posted on: Thu, 24 Oct 2013 15:03:06 +0000
Trending Topics
Recently Viewed Topics
© 2015