Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697646772568.pdf (Bahamas)
Government of the Commonwealth of The Bahamas REQUEST FOR PROPOSALS To Establish “INVESTBAHAMAS” In The Ministry of Finance Issue Date: 15 February 2021 Deadline for Clarification Questions: 1 March 2021 Deadline for Submission of Proposals: 31 March 2021 1 SECTION 1 NOTICE The contents of this RFP are not to be construed as legal, financial, tax or any other advice.

Each firm or individual should consult its own advisors.
No representation or warranty, express or implied, is given by the Government, the Ministry of Finance (MOF), the Bahamas Investment Authority (BIA) or any of their officials, officers, employees or advisors as to the accuracy, fairness, sufficiency or completeness of the information, opinions or beliefs contained in this RFP.
Each firm or individual that submits a proposal in response to this RFP (together, the “applicant”) should conduct their own respective investigations and analysis in relation to the information provided in this RFP, and should obtain independent advice from appropriate advisors prior to using or relying on any information provided in this RFP and any decision to participate in this opportunity.
The Government reserves the right, in its sole and absolute discretion, at any time and in any respect with or without reason to any applicant to reject a proposal, abandon, or vary the RFP process in accordance with the “STANDARD TERMS AND CONDITIONS” as presented in Section 4.

The distribution of this RFP in certain jurisdictions may be restricted by law and therefore any person into whose possession this document comes should inform himself about, and observe any such restriction.
Save as expressly provided herein, the Government, the Minister with responsibility for MOF (the "Minister"), and his officials, officers, employees and advisors are not responsible for any costs, losses, damages or liabilities whatsoever incurred by applicants in connection with the process discussed in this RFP, including but not limited to costs associated with preparing submission of its proposals and any other required information and costs associated with the undertaking of any due diligence.
Each applicant will be responsible for all of its own costs incurred during the investigation, submission and evaluation of this proposal, including fees and disbursements of its own counsel, advisors and financing sources.
By submitting a proposal in response to this RFP, any applicant is deemed to have accepted the terms and conditions set out in Section 4 of this RFP without qualification or amendment, including in particular the Government's exclusion of liability in respect of the selection, evaluation and engagement of the applicant contemplated under this RFP that will be carried out by or on behalf of the Government.
All information in this RFP, and received pursuant to this RFP, shall be covered by the terms of the Non-Disclosure Agreement submitted as part of the registration process, which Non-Disclosure Agreement shall remain in effect in conformity with its terms.

This RFP shall be governed by the laws of The Bahamas.

Any legal action or proceedings arising out of or in connection with such terms and procedures shall be subject to the exclusive jurisdiction of the courts of The Commonwealth of The Bahamas.
2 SECTION 2 Request for Proposal – Establishing INVESTBAHAMAS 1.
INTRODUCTION 1.1 Scope and Goals The government of the Commonwealth of The Bahamas (the Government) is soliciting proposals from selected technically qualified applicants with the relevant expertise to lead the research, development, establishment, marketing and recruitment of staff for a newly created government statutory organisation, INVESTBAHAMAS, as recommended by the Government’s Economic Recovery Committee (ERC).1 INVESTBAHAMAS will represent a retooling and recasting of the government’s current Bahamas Investment Authority (BIA).
INVESTBAHAMAS will serve as The Bahamas’ progressive, autonomous and integrated foreign and domestic investment agency that, among other things, will promote The Bahamas as a jurisdiction “open for business” for quality foreign direct investment2, facilitate – and in some cases – approve foreign investment applications, and assist Bahamians in accessing business capital and appropriate financial concessions.

InvestBahamas will operate with a code of confidentiality, transparency and efficiency.
Applicants should, at a minimum, possess demonstrated experience in research and data analytics, strategy, international foreign direct investment strategies, best practices and policies, global marketing and public relations.
The successful applicant will be responsible for the following: • Creating and establishing INVESTBAHAMAS, a globally-competitive, autonomous, investment authority for the Bahamas, consistent with leading global practices, including recommending the appropriate mandate and functions, recommending and implementing budget and staff considerations, performance management strategies, key performance indicators, etc.
; • Gathering and presenting research data and insights to develop and implement an appropriate overall strategy for INVESTBAHAMAS that ensures positioning The Bahamas as the jurisdiction of choice for foreign investors and that encourages and increases domestic investment.

An important part of the consultancy must include recommendations on 1 The Economic Recovery Committee was officially announced by the Prime Minister, the Most Hon.

Dr. Hubert Minnis, on April 26, 2020.


The public-private Committee was created to make recommendations to the Cabinet of The Bahamas on the long-term economic recovery of The Bahamas economy, including job-creation and stimulating small business recovery and development in response to COVID-19.

In particular, the Committee will focus on restoring the macro economy, restarting a competitive business environment, economic diversification, tourism and transport, financial services and labour.
The committee is made of up of seventeen (17) members.

2 Quality FDI (“QFDI”) is characterized as follows: Contributing to the creation of decent and value-adding jobs; Enhancing the skill base of host economies; Facilitating the transfer of technology, knowledge and know-how; Boosting competitiveness of domestic firms and enabling their access to markets; and - - - - - Operating in a socially and environmentally responsible manner.
3 creating the value proposition of each island or grouping of islands in the Bahamian archipelago, to be developed with specific types of investments based on each island’s suitability; • Designing and implementing a comprehensive, world-class, globally competitive marketing campaign – inclusive of investment packets/pamphlets and digital marketing, etc.
– that promotes The Bahamas as a jurisdiction “open for business” for foreign and domestic investment; • Reviewing, supporting, making recommendations, and improving The National Investment Policy, in accordance with the directives and vision of the ERC and international leading best practices; • Recommending an efficient and transparent investment approval process, making optimal use of digital technologies for submission, review and approval of investment proposals, in accordance with the stated goals and objectives of the ERC; • Ensure seamless integration of the role of BIA within that of INVESTBAHAMAS and the interaction with the National Economic Council (NEC), where appropriate; • Assigning “On the Ground” Human Resource Assets to work with the new INVESTBAHAMAS for a period of up to one year post launch to provide for strategic and administrative support once the entity is established; • Designing and implementing appropriate monitoring tools that measure and evaluate the strategy and effectiveness of INVESTBAHAMAS, once created; • Assisting the Government in the immediate term in creating and executing an expedited process for current investment proposals received by BIA and other government agencies, concurrent with the development of the INVESTBAHAMAS framework; • Undertake an extensive review of 1) two previous independent studies procured by the Government of The Bahamas, and 2) a third study on GBPA/Central Government relationship, with a view to incorporate and utilize these studies as much as possible; • Establish an efficient and effective end to end domestic and foreign investment application process, inclusive of all public and private stakeholders, e.g.
developers, agencies, town hall meetings, etc., from the submission of the inquiry/application, through to all requisite approvals that would be necessary for investment projects to begin commercial operations.
This should include specific measurements and targets for the application approval and executing the approved application process; • Review pending legislative and regulatory changes to ensure that such changes will achieve objectives of optimizing investment prospects and processes, and recommend alternative legislative or policy approaches that will maintain a balance between transparency and policy objectives.

The goal of this Request for Proposal (RFP) is to ensure best value for the Government.
Where best value is the best combination of cost, service quality and technical capability required to meet the Government’s development and implementation of INVESTBAHAMAS.

While maintaining service quality and technical capability is essential, the Government is also seeking to reduce total cost.

Cost will be a key factor in the evaluation of the bids.
The project is anticipated to last up to 18 months (6 months review, 12 months execution) from signing and will require human resource assets to work “on the ground” initially with BIA and other government agencies and subsequently with the new INVESTBAHAMAS 4 Further details about proposed structure and purpose of INVESTBAHAMAS are attached as Annex A.

The Summary Report of is available at https://opm.gov.bs/economic-recovery-committee-executive-summary-report-2020/.
the Economic Recovery Committee 1.2 About the Government of The Bahamas The Commonwealth of The Bahamas consists of 700 islands and cays within an area that spans over 100,000 square miles in the Atlantic Ocean, southeast of Florida, and northeast of Cuba.

Of those islands, 30 are inhabited.

Population figures, as projected for 2020 by the United Nations, estimated that approximately 395,0043 individuals live in The Bahamas.
According to the 2010 Census report, the most heavily populated islands in The Bahamas are New Providence (with a population of 246,329, or 70.0% of the population of the country) and Grand Bahama (with a population of 51,368, or 14.6% of found at the population).

https://www.bahamas.com.

information about The Bahamas may be More 1.3 About the Ministry of Finance The primary responsibility of the MOF is the care and management of the government's financial resources.
This responsibility involves providing support and advice on the most appropriate fiscal, tax and economic policies with the aim of maximising sustainable economic growth and development with full regard to equity and social policies.

The development and management of the Government Budget is a major aspect of the Ministry's function.

More information about the MOF may be found at https://www.bahamas.gov.bs.
1.4 About the Bahamas Investment Authority The government’s proactive economic growth and development policies are guided by BIA, established to reduce bureaucratic delays for domestic and international investors.

Operating from the Office of the Prime Minister, the BIA has been designated a “one-stop shop” designed to simplify investing in The Bahamas.

The BIA serves as the administrative arm of the NEC and Investments Board.

More information about the BIA may be found here.

2.
PROCUREMENT SCHEDULE AND INSTRUCTIONS 2.1 Procurement Schedule Release Date for RFP: 8 March 2021 Deadline for Clarification Questions from Applicants: 22 March 2021 Government’s Response to Clarification Questions from Applicants: 5 April 2021 Last Day for Submission of Proposals: 19 April 2021 Successful Applicant Announced: 19 May 2021 2.2 Presentation Requirements and Delivery Instructions Applicants should present proposals in electronic format to the attention of Marlon Johnson, ERC Co- Chair and Acting Financial Secretary, Ministry of Finance, at marlonjohnson@bahamas.gov.bs.
The subject line should include the title “RFP INVESTBAHAMAS”.

Proposals must be submitted by the “Proposal Due Date” listed under Section 2.1.

THE GOVERNMENT RESERVES THE RIGHT TO REJECT LATE PROPOSALS.

3 www.worldpopulationreview.com.

5 SECTION 3 SUBMISSION OF PROPOSAL 1.


ORGANIZATION OF PROPOSAL These instructions are provided for general information for the preparation of the proposal and are not part of the documents comprising the proposal or the contract, and are not to be interpreted so as to change any contract provision, condition or specification.

The proposal should be separated into a technical and financial proposal.
Pricing information should only be quoted in the financial proposal and should not appear in any other section.

Proposals should be concise and contain the sections described below.

Proposals that fail to adhere to or comply with the following format may be excluded from the evaluation process.

1.1 Cover Letter The cover letter must clearly identify the applicant (company name) and list a point of contact for discussions and clarifications of the proposal.
Contact information should include name, title, e-mail and telephone.

The cover letter must explicitly indicate whether the applicant does, or does not accept the terms of the RFP as outlined in the Government’s Notice in Section one.

The Government reserves the right to decline without further comment any proposal, which does not accept the terms of the RFP.

1.2 Organization of Technical Proposal The technical proposal should be structured in the following format.
Proposals will be judged largely on the information provided under the following sections.

1.3 Response to the Statement of Work The applicant will provide detailed explanation on how it intends to perform the services covered by this RFP, giving sufficient information to demonstrate its understanding of the requirements and its capability to successfully complete the project.
1.4 Corporate Experience This section should describe the applicant’s corporate experience and ability to perform the required services.

1.5 Key Personnel and Subcontractor(s) Applicants should describe the role and responsibility of each member of the proposed team and level of involvement.

Resumes of key personnel assigned to the effort should be included in the proposal.

Include a description of the team’s experience with this type of work.
The Government expects that all personnel proposed will conduct the work.

If some or all of the proposed work is to be subcontracted to another company or individual for any reason, applicants must identify the work items that will be subcontracted, to whom, and the experience and qualifications of the organization or individual.

The Government reserves the right to approve all subcontractors.
6 1.6 Awareness of Difficulties The applicant must describe what, if any, difficulties it anticipates in a project of this type, and describe how it would avoid and/or overcome such potential difficulties.

1.7 List of References Applicants must provide a minimum of three (3) references for similar types of engagements.

The applicant shall include brief project descriptions as well as client names, titles, emails and phone numbers to enable the Government to contact the references should it be required.
1.8 Schedule and Work Plan The applicant will provide a preliminary work plan showing the separate tasks, schedules and anticipated starting and completion dates for each separate task or deliverable.

The applicant’s assumptions about internal review time by the Government should be made explicit in this section.

The applicant will develop a final work plan with firm scheduling of tasks and deliverables in consultation with the Government immediately following contract award.
1.9 Proposed Alternatives, Comments or Reservations (if any) The applicant may use this section to propose an alternative offer or make comments about its proposal and the contents of this RFP or state reservations relative to the scope.

The applicant may use this section to identify any alternative approaches to meeting the Government’s goals in this project, and may include additional materials not easily categorized in the preceding sections.

2.
2.

ORGANIZATION OF FINANCIAL PROPOSAL The applicant will provide a separate financial proposal to state all proposed pricing to complete the work effort.

Pricing information should not appear in any other section of the proposal.

The Government will not be responsible for any costs incurred by applicants in the preparation of their submissions.

The Government intends to award a contract for fixed price deliverables.

Applicants must respond using an hourly rate and aggregate rate, per work completed.
Additionally, applicants are welcome to present alternate financial proposals or arrangements that may lower the Government’s total cost.

Examples may include additional tiered discounts based on volume, etc.

3.

PROPOSAL VALIDITY AND REPRESENTATIONS Any proposal will be irrevocable after the final submission time and will remain valid for a period of one hundred twenty (120) days from the proposal due date.

By making a proposal, the applicant represents to the Government as follows: i.
That it has read and understood all RFP documents, and that RFP documents are acceptable to it; and 7 ii.

That its proposal is based upon the services requested and upon the terms and conditions set forth in the RFP documents.

4.

PROPOSAL EVALUATION AND AWARD 4.1 Evaluation Criteria Proposals will be evaluated according to the following criteria (not in order of importance): 1.

Corporate experience and capability.

2.

Quality and experience of key personnel.

3.

Price and total cost.

4.


Quality and depth of response to the Statement of Work.

5.

Quality of Preliminary Work Plan with regard to level of detail and realistic dates.

6.

Applicant’s acceptance of Government’s Standard Terms and Conditions.

7.

Any other prescribed criteria.


4.2 Oral Interviews In addition to submission of the proposal by the date stated above, an applicant submitting a proposal may, at the option of the Government, be required during the evaluation process to make a formal presentation to and/or attend a meeting to discuss the proposal with members of the Government.
4.3 Contract Award The Government reserves the right to conduct follow-on negotiation discussions or request for best and final offers (BAFO) from short-listed bidders after reviewing the proposals.

The Government reserves the right to make no award, to make a partial award, to make a single award, to make multiple awards, to award in the aggregate, to award by line-item or to use any combination thereof for any reason that is, in its opinion, in the best interest of the Government.
The Government reserves the right to decline without further comment any proposal that does not accept the Government’s Notices.

5.

CONFIDENTIALITY The information provided by the Government in, or in connection with, this RFP is for the sole purpose of this solicitation and is to be considered strictly confidential.

Any information learned by an applicant in connection with this solicitation will not be revealed by it or used for any purpose other than the preparation of its proposal.
8 Section 4 STANDARD TERMS AND CONDITIONS 1.

RELATIONSHIP OF PARTIES The parties intend that the appointed applicant (the appointee) shall perform the services provided for and described herein solely as an independent Contractor of the Government and neither the Contractor nor any of its agents, employees or servants shall be considered an agent, employee or servant of the Government.

2.
2.

ASSIGNMENT Appointee shall not, without the prior written consent of the Government, assign, transfer, pledge, or otherwise encumber its rights to receive payments from the Government under this Agreement for any reason whatsoever.

3.

OWNERSHIP The Government shall have the exclusive ownership of and right to use any documents or other tangible products of the services provided for herein, except to the extent that they incorporate property already owned by any other party including appointee.
Appointee shall inform the Government of such ownership, shall license or obtain any necessary license for the Government's use of such property, and shall hold the Government harmless from any claims for unauthorized use of such property.

4.
CONFIDENTIAL INFORMATION Appointee agrees that it shall require each person assigned to perform work hereunder to abide by the following nondisclosure conditions: (a) will not disclose, deliver, or use for the benefit of any person other than the Government, or its authorized agents, any restricted or confidential information or material he or she receives from the Government, other than material or information previously in the records of the undersigned or obtainable prior to such disclosure, delivery, or use, from third parties or from the public domain; (b) will adhere to any policies or instructions provided by the Government as to the classification, use or disposition of any restricted or confidential information or materials; (c) will not use any restricted or confidential information or material for personal gain; (d) after the completion or termination of the Agreement, will continue to adhere to the first three clauses above; and (e) to take such steps as may be needed to ensure that the terms of the non-disclosure statements are observed during and after the term of the Agreement.
5.

CHANGES 9 The Government may, at any time, by written order, require changes in the services to be performed by the appointee.

If such changes cause an increase or decrease in the appointee’s cost of, or time required for, performance of any services under a contract, an equitable adjustment shall be made.

6.
6.

INVOICING AND PAYMENT The appointee agrees to electronically submit invoices and supporting documentation for completed services to the attention of: ERC Co-Chair and Acting Financial Secretary, Ministry of Finance, at marlonjohnson@bahamas.gov.bs.

Invoice(s) must reference any applicable appointee/agreement number.

Invoiced amounts will be paid Net, thirty (30) days from receipt and approval.

Invoice approval will not be unreasonably withheld.
If possible, it is requested that electronic versions of invoices be submitted electronically.

7.

APPOINTEE TERMINATION 7.1.

Termination for Convenience A contract may be terminated in whole or in part by the Government in accordance with this clause whenever the Government shall determine that such a termination is in the best interest of the Government.
An equitable adjustment in the contract price shall be made for completed service, but no amount shall be allowed for anticipated profit on unperformed services.

7.2.
7.2.

Termination of Contract for Cause If, through any cause, the appointee shall fail to fulfil in a timely and proper manner their obligations under this contract, or if the appointee shall violate any of the covenants, agreements, or stipulations of this contract, the Government shall thereupon have the right to terminate, specifying the effective date thereof, at least five (5) days before the effective date of such termination.
In such event all finished or unfinished documents, data, studies, surveys, drawings, maps, models, and reports prepared by the appointee under the contract shall, at the option of the Government, become the property of the Government.
Notwithstanding the above, the applicant shall not be relieved of liability to the Government for damages sustained by the Government by virtue of any breach of contract by the appointee for the purpose of set off until such time as the exact amount of damages due to the Government from the applicant is determined.

8.
COMPLIANCE WITH LAWS The appointee shall, at its expense (and not as a Reimbursable Expense), perform its obligations in a manner that complies with all laws, ordinances, rules, regulations and requirements of all Government organisation, any environmental agency, or any other body exercising functions similar to those of any of the foregoing that may be applicable (in the absence of any Government immunity and regardless of whether such laws are enforceable against the Government or its property) to the services covered by this agreement.
9.

INSURANCE AND LIABILITY 10 Appointee agrees to maintain at its own expense such insurance as will fully protect the appointee, its agents, its employees, its sub-contractors and the Government from any and all claims.

The maintenance of such insurance is the sole responsibility of applicant, and the Government shall not be required to bear any of the cost thereof.
At the option of the Government, the appointee shall submit Certificates of Insurance evidencing the appropriate coverage required herein upon execution of this Agreement.

The appointee shall promptly remedy any and all damages or loss to any property caused in whole or in part by the appointee, its agents, its employees, its subcontractors, or others directly or indirectly employed by them.

10.
10.

INDEMNIFICATION (a) The appointee shall indemnify and hold the Government harmless against any loss or damage that may be sustained by reason of the appointee’s failure to comply with applicable laws, ordinances, regulations, and codes.

(b) The appointee shall indemnify and hold the Government harmless against any action taken by a third party against the Government.

11.
11.

PUBLICITY REGARDING AGREEMENT (a) Appointee may publicly release statements of the fact regarding the Agreement, including the name of the Government, only upon the Government's prior review and approval in writing.

Requests for such review and approval should be directed to the ERC Co-Chair and Acting Financial Secretary, Ministry of Finance, Nassau, Bahamas.
(b) Appointee agrees not to refer to awards in commercial advertising in such manner as to state or imply that the services or products provided are endorsed or preferred by the Government or are considered by the Government to be superior to other services or products.

12.

AUDIT The Government reserves the right to inspect and audit the appointee’s accounting, financial and other records and documents that are relevant to the performance of an Agreement.
Any such inspection or audit shall be undertaken at the appointee’s cost, shall occur during normal business hours, and shall be conducted in a manner so as to not unnecessarily interfere with the business of the appointee.
Appointee hereby undertakes to maintain complete, accurate and verifiable records of all costs charged and/or chargeable to the Government under an Agreement or any extension(s) thereof, and agrees to retain such records for a period not less than three (3) calendar years following a termination of an Agreement or after final payment, whichever occurs last.
The offeror shall diligently cooperate with the Governor’s representatives during any such inspection and audit and hereby waives any objection it may have to such inspection and audit, unless specified in writing and duly acknowledged by both parties in any Agreement.

13.
13.

BACKGROUND INVESTIGATIONS Prior to commencing work at the Government’s facilities, appointee may be required to engage an investigative agency specializing in background investigations to conduct, at appointee’s expense, a 11 criminal history check of each agent or employee of the appointee whom appointee expects will enter the Government’s facilities.

The investigative agency is subject to the approval of the Government.

12