More than 50 years ago a small group of entrepreneurs built a deep water harbour and established a unique economic zone on Grand Bahama Island, with the vision that it would become a major shipping hub and international business centre. Today, that goal still holds true although we have become even bolder in our ambitions as we have seen the success our methods have delivered over the years.
Our vision today is to become the island of choice for global investment in The Bahamas by 2012.
This vision means we have to run the most efficient and effective regulatory organization not only in the Bahamas but in the Caribbean. Our vision also dictates that we operate to the highest ethical standards and ensure we hold each other to account for ensuring we live by them each and every day.
"The Mission of GBPA is to better the lives of the Grand Bahama Community, and by extension, The Bahamas, through the unique features offered by our island."
Our values demonstrate how we want to operate the GBPA. These values apply to all our stakeholders including employees, shareholders, and licensees.
Organization: as the regulator of Freeport we have fostered an environment of orderly development. We believe that growth is best achieved in an orderly fashion.
Performance: We believe convenient and quality service is most important to our licensees and the residents of Grand Bahama. Many of the services we provide at our physical departments can now be initiated or completed online. We are constantly setting goals to achieve better performance.
Integrity: We recognize that reputations are earned over time, and not given as a right. We demand high standards of behavior from our employees.
Teamwork: To compete for business investment in today’s global environment there must be open and active communication with all our stakeholders. We must all work together to achieve our goals.
Our journey to become the place of choice for global investment in The Bahamas requires us to deliver a number of key strategies along the way. We will require the combination of visionary leadership and the energy and vigour of our employees to succeed.
We will be required to improve our licensing regime; to leverage our proximity to the U.S. and a tax-free zone status; to take on a more aggressive, innovative and strategic investment promotion agenda; and to improve our overall service.
The GBPA is a regulatory/administrative entity that in today’s world competes for investment with other locations in the Bahamas, the Caribbean, and the world. We believe some of the advantages to doing business here include:
- Proximity to the U.S. – 68 miles from Florida
- Freedom from income and investment taxation
- Economic, democratic and monetary stability
- Provision of investment incentives
- Easy repatriation of funds
- Progressive immigration policy
- Abundance of skilled labour
- High quality of life