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Last Updated: Feb 13, 2017 - 1:45:37 AM |
Prime Minister and Minister of Finance the Rt. Hon. Perry Christie, addressing the Opening of NewCo2015 Limited’s Administrative Offices on Friday, November 11, 2016. (BIS Photo/Peter Ramsay)
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NASSAU, the Bahamas – Mobile technologies drive the “epic cultural and societal shift” that is happening in today’s world and “that requires affordable internet access,” Prime Minister and Minister of Finance the Rt. Hon. Perry Christie remarked at the Opening Ceremonies of NewCo2015 Limited’s administrative offices, November 11, 2016. He said "I am pleased for the privilege afforded my Government to provide that vital bridge to the future for our citizens."
He explained, following a transparent competitive bidding process, which began just two years ago -- a process that was ably managed by the Cellular Liberalisation Task Force under the leadership of former Financial Secretary, Mrs. Ruth Millar -- the Government had progressed through to the selection of a successful applicant and the award of a licence to NewCo2015.
"NewCo2015 is a company that, in its broadest sense, is jointly owned by the people of The Bahamas through HoldingCo Ltd on the one hand -- as majority equity owner – and Cable Bahamas on the other," Prime Minister Christie said. "It is a public-private partnership arrangement in which management and control is exercised by Cable Bahamas."
Prime Minister Christie said that the Government accepted the recommendation of the Task Force that, in order to facilitate timely formation and commencement of operations for NewCo2015, the Government would serve as the initial and sole shareholder of HoldingCo.
"This Government ownership would be on a temporary basis, pending an
offering of the shares in HoldingCo to eligible Bahamian investors," Prime Minister Chrisite said. "The Board of HoldingCo along with the Task Force has been charged with advising the Government on, and managing the process for, divestment.
"In its manifesto 2012, my Government pledged to broaden Bahamian ownership in our economy and has demonstrated its commitment through the ownership structure implemented for HoldingCo."
Prime Minister Christie said that as The Bahamas looks to the future, it is self-evident that modern successful economies have gained an advantage through skillful exploitation of the limitless possibilities that an advanced communications sector offers.
"Against the backdrop of global trends my Government looks forward to the competitive environment in mobile services producing healthy, sustained growth of local ICT industries that tap into the innovative and creative talents of our people, especially our younger people, as a means of stimulating our fledgling mobile app industry," he said. "We also look forward to opportunities for enhanced ecommerce ventures, technology hubs and technology parks making greater use of mobile technologies."
Prime Minister Christie said that as work progresses on The Bahamas National Development Plan, a well-connected country in which communications removes barriers of distance by facilitating access to public and private sector services through the use of broadband and mobile technologies, further serves to level the playing field for all Bahamians wherever they live or work in this archipelago.
"In this regard, it is worth mentioning here that via a Deed of Undertaking Cable Bahamas has committed to the Government to accelerate roll-out in specified family islands as may be required by Government to support development objectives in those islands," he said. "It will also catalyse innovation in the delivery of government services which, globally, more and more, are being accessed through mobile technologies.
"Recognising the importance of this, my Government is pleased to have realized this important milestone for full liberalization, particularly in light of the potential this holds for greater exploitation of mobile technologies for sustainable development."
Prime Minister Christie said that it was also worth recalling how recent hurricane events have reinforced how vital good, affordable communications are to the lifeline of the country.
"It acts as an advance warning system, a means of communication during the passage of storms and a vital lifeline to communities impacted by the passage of storms," he said.
Bahamians, Prime Minister Christie said, are being empowered through these developments to become more participatory citizens in vital areas like law and order and various public services.
"Mobile devices such as smartphones are more than just devices for talking, they permit constructive engagement and contributions to governance; they are full-scale entertainment centers; they are vast repositories of data that could be used to inform policymaking," he noted. "I am pleased for the privilege afforded my Government to provide that vital bridge to the future for our citizens."
Prime Minister Christie pointed out that coming himself from an era in which direct face-to-face interaction was the norm for social and professional engagement, it is often amazing to see the extent to which today’s culture depends much more on interaction using remote technologies.
"Health and education services are administered remotely, commercial arrangements abound across the Internet, other services are provided in the same manner and people socialize using the Internet through the proliferation of social media sites," he said.
"That is an epic cultural and societal shift that requires reliable, affordable Internet access," he added. "People, our people and especially our younger
generation live their lives in these virtual environments.
"This is their reality and Governments are compelled to create the environments that are conducive to this. This new reality is complemented by the explosive growth of mobile technologies, which allow people to conduct their affairs while on the go. Ours is an era of convenience and mobile technologies are the primary facilitators of this lifestyle."
Prime Minister Christie pointed out that the millions of visitors that grace our shores annually also have expectations that communications and connectivity will meet world class standards both in terms of quality and price. Choice, he said, in the sector provides the means to respond to these demands.
He emphasised that he was most pleased that his Government had remained true to its promise to expand Bahamian ownership base in the country's economy.
"Through shares held in NewCo2015 via HoldingCo, the Bahamian public stands to enjoy substantial ownership in this very important growing economic sector," Prime Minister Christie said. "We are reinforcing our national information infrastructure with an eye to a stronger, fairer, more resilient and competitive Bahamas."
© Copyright 2016 by thebahamasweekly.com
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