Strengthening ties On Thursday, Furnish said she was at Grand Bahama Business Outlook to reaffirm the US’ commitment to regional partners.
She said it is vital for the US to engage with neighbors like The Bahamas to drive economic growth, adding that a close relationship with America creates more jobs and stronger economies.
Furnish said it is important that The Bahamas and the US strengthen economic ties.
The US can achieve this in three ways, she said: by reengaging in the Western Hemisphere, relocating critical supply chains closer to home, and working to avoid “nefarious” partners.
“President Trump’s foreign policy agenda begins close to home,” Furnish said.
“Our diplomacy is a key part of that agenda. As the United States re-engages in the Western Hemisphere, I’m honored to serve here in The Bahamas, a country filled with opportunity.”
Furnish said she was “excited” to see the progress of recent US investments on Grand Bahama such as Carnival Corporation’s Celebration Cay – set to open in July – and the planned luxury Six Senses resort by Weller Development.
She mentioned the $50 million Western Atlantic University School of Medicine (WAUSM) in Freeport, which has already provided 200 jobs for Bahamians and has a commitment to deliver at least five new jobs per year, as another example of American investment on the island.
To attract more foreign investment in The Bahamas, she said it is essential to have a business environment that is competitive, efficient and transparent.
Furnish said while The Bahamas has made strides in the area of transparency, there is room for improvement.
“By implementing market-oriented reforms, we can reduce bureaucratic and process hurdles to attract more investment, stimulate entrepreneurship, and foster a competitive business landscape,” she said.
“Our renewed focus in the region underscores the United States’ commitment to collaborative growth and shared success right here in the Western Hemisphere.”
Furnish said the innovations that will drive The Bahamas’ economic advancement will be rooted in telecommunications and technology.
“As we aim to enhance economic security, relocating critical supply chains for these innovations to the Western Hemisphere will lessen our reliance on distant sources and pave the way for regional economic growth,” she said.
“The Bahamas can lead the way in the Caribbean by investing in 5G and smart technologies. These advancements will not only lower operational costs, but they’ll also attract high-tech industries and create new opportunities right here in Grand Bahama.”
These efforts can help make Grand Bahama a regional tech hub, Furnish said.
She said the US Embassy and the American private sector stand ready to partner with The Bahamas as it looks toward new technology and potential smart city infrastructure.
“A stable and prosperous Western Hemisphere advances our shared priorities of expanding our economies,” Furnish said.
“Engaging with our neighbors like you here in The Bahamas is vital to fixing vulnerabilities in supply chains and driving strong economic growth. Strengthening alliances with democratic and like-minded partners enables the United States to build a more prosperous Western Hemisphere.
“What we really need to remember is we share a common home. The more prosperous that home becomes, the more both of our nations stand to benefit.”
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Publish date : 2025-02-16 23:35:00
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