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Freeport Showcased At International Summit In Shanghai

More than 400 senior executives and investors from China’s most powerful, private & state-owned enterprises, along with representatives from countries around the world, were in attendance at The Free Trade Zone & Special Economic Zone Summit held in Shanghai, China.  The Grand Bahama Port Authority, Limited (GBPA) showcased the value of Freeport and competed for Foreign Direct Investment (FDI) opportunities that could be made possible by way of China’s increasing Outbound Direct Investment (ODI).

Sr. Manager of Business Development for GBPA, Derek Newbold, in an exclusive speaking opportunity, prominently featured Freeport as the Free Trade Zone of the Bahamas, which provides access to key western markets by virtue of its proximity to North, Central and South America.

He further stated that “Most FTZs/SEZs are directly or indirectly administered by Governments with the ability to legislate. However, our centralized location in the western hemisphere, modern infrastructure and low-tax environment remain attractive features.”

Newbold also took advantage of the exceptional opportunity to have one-on-one meetings with first-rate prospective investors to explore outbound investment opportunities.  Preliminary discussions on attracting significant investment projects appeared promising as potential investors showed keen interest in regional collaboration.

“It was encouraging to see the interest level in Freeport among participating companies seeking to expand to foreign jurisdictions,” stated Newbold.

GBPA President, Ian Rolle added that it is important for GBPA to continually take advantage of opportunities to promote Freeport, the FTZ of the Bahamas, at premium platforms for business development, since numerous companies across the globe are now seeking to expand to foreign territories. 


The Hawksbill Creek Agreement (HCA) gave GBPA responsibility for the development, administration and management, and provision of services within an area called the 'Port Area' (230 sq. miles). GBPA was mandated by this Agreement to build a deep water harbour, an industrial community and required infrastructure for the City.



GBPA has achieved an astonishing amount since its inception in 1955.  When first created it was a Grand Bahamian business conglomerate charged not only with land and commercial development but also with all the regulatory and administrative functions of the Freeport/Lucaya.



Firstly, I wish to thank Joan Albury and the Counsellors for this platform enabling us to share with the Grand Bahama community, the outlook for our island! 2015 marks the 60th year of the birth of Freeport and the Hawksbill Creek Agreement; 60 years of a partnership between The Government of The Bahamas and The Grand Bahama Port Authority. I'm here to raise hopes for 2015 and to lay a few popular myths to rest - For those who don't know me, I am Sarah St George.