Amendments To Economic Development Act

September 12, 2019 | 6 Comments

“Our Economic empowerment zones can drive renewed economic activity in Bermuda,” said Premier David Burt as he advised that amendments to the Economic Development Act 1968 will be tabled on Friday.

“These amendments will lay the groundwork for development in our EEZs – in North Hamilton, St. George’s and the West End. This Government promised to encourage city living, and to breathe new life into our EEZs. Facilitating new development in these areas will promote economic growth and stimulate economic activity through construction and beyond.”

The Premier continued: “The amendments will make it clear that those who haven’t had the chance to benefit from these kinds of opportunities will finally get a fair shake.

“The EEZs can be transformed to the benefit of those who call them home or do business there now and lead the move towards a revitalization of Bermuda, socially and economically, that is long overdue.”

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  1. Missing $800M says:

    How can we have economic activity anywhere on the island when we are so hostile to foreign investors? Where will our disposable income come from?

    • wa says:

      Some ‘bermudians’ wept over the death of Mugabe…..these people aren’t the star economists they want you to think they are!

  2. Slipnut says:

    Breathe of new life? You better start finding new outside investors in invest here. The economy is flat. Cycling the same dollar from dockyard to st George isn’t working.

  3. CRypto says:

    Burt needs to step back and concentrate on being Premier. He is making the same mistake that many others make. he is trying to put on the Superman cape and conquer all – and save the day.

    The reality is that in the end most like him overpromise and underdeliver. He and his party, and people campaign had all the answers and were going to turn things around. They were absolutely right. Everything is worse today then it was pre-PLP. Economy, retail sales, employment, debt, education, transportation, international business. the only thing that has risen is the amount of RATS we now have. Obviously team green supporters will see no wrong. However I trust that even they will see that there is nothing that is right with BDA? What in Bermuda Is better since the PLP took over. The OBA made some very difficult, but necessary decisions and were making some headway- despite all the propaganda induced marches and protests. International business was on the rise. The coverage from AC35 and Triathlon improved tourism – and still continues to pay dividends. Hotels were getting built instead of closing and employment and retail sales were up. Those figures are FACT. Check them out and report back with facts if you believe otherwise. Someone tell me what has team BURT made better. How many average Bermudians have more money in their pockets? Unless you are diabetic and were not affected by the “sugar tax” …nobody.

    Burt is a nice guy, but he is obviously being led (or misled) by others in the PLP background. If he would just lead instead of looking back for permission and guidance we might be better off. But going against the “real” party leaders will cost him his job so I don’t blame him for being quiet. Meanwhile many “average Bermudians” that were promised more money in their pockets – continue to have less. Our new health plan, that was to save us money has made everyone’s contributions go up? Huh?!

    How many of the thousands of jobs that he promised in Crypto currency market have come to fruition? How many new companies so far vs the amount that have left Bermuda? Where is the collaborative idea village that he and Caines were promoting. Is there even a plan anymore?

  4. Mother Theresa says:

    And where is the funding going to come from to support all the new construction?

  5. Joe Bloggs says:

    “These amendments will lay the groundwork for development in our EEZs – in North Hamilton, St. George’s and the West End. This Government promised to encourage city living, and to breathe new life into our EEZs. Facilitating new development in these areas will promote economic growth and stimulate economic activity through construction and beyond.”

    Ok, now where will the money for the development in our EEZs come from?

    I am all for Government promoting–rather than engaging in–development, but you have to promote development where developers want to invest. There is no point in promoting development in a war zone or other place people to not want to invest.

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