Bahamas banks on Brazil investment

The Bahamas are banking on Brazil investment, the government has declared, as the country targets Latin American buyers as part of a new promotional drive.

Announcing the "new Brand Bahamas", Prime Minister Hubert Ingraham highlighted the importance of Latin American investors in the country's tourism, financial, maritime and trade industries. The government "needs to be bolder" in going after foreign investment, he added, highlighting the importance of international cultural exchanges.

Ingraham spoke ahead of this week's elections, promising that if he was re-elected, "key players" would be dispatched on a "mission" to attract potential investors from the world's sixth-largest economy to help the Bahamas "bounce back".

Targeting Latin America's population of over half a billion people "is in the Free National Movement's (FNM) Manifesto 2012", reports the Nassau Guardian , as part of the party's plan to bolster the islands' recovering economy and housing market, where prices have decreased in recent months.

"When traveling abroad, I will advise potential investors of the new Brand Bahamas we are creating, building on what we have already accomplished," the Prime Minister said.

"The new Brand Bahamas, similar to the Incredible India campaign, will feature the Islands of The Bahamas, as a stunningly beautiful, opportunity rich environment that is stable and strategically located."