PM Davis's PLP won 33 of 41 seats (unofficial) in the 12 May 2026 snap election, the first back-to-back term in about 30 years. The FY2026/27 budget projects a US$223m surplus (1.2% of GDP) and focuses on energy transition, health and cost of living.
What a Korean company can do now
Government · leader
Prime Minister Philip Davis (PLP, re-elected May 2026) / Head of State King Charles III
Key national agenda
- Cost-of-living relief: VAT removed on unprepared food (from 1 Apr 2026), lower power bills
- Energy transition: 70MW shore power at Arawak Cay, 60MW solar + 10MWh battery PPAs
- Health infrastructure: new New Providence hospital, Family Island clinics
- Affordable housing and skills (Upskill Bahamas, 25,000 places by 2031) (single source)
- Digital government: Sand Dollar in government payments, AI Governance Act
- Grand Bahama revival: power company acquisition and future-framework consultation
Government programmes
FY2026/27 national budgetSpending B$4.1bn
Revenue US$4.4bn (23.6% of GDP), spending US$4.1bn (recurrent 3.7bn, capital 416m), surplus US$223m, debt target 59.9% of GDP.
Arawak Cay 70MW shore power and Clifton Pier-Blue Hills pipelineNot disclosed
70MW shore power plus an 18-mile dual-fuel pipeline listed as key energy projects.
60MW solar + 10MWh battery PPAsNot disclosed (private PPA)
Power purchase agreements to raise renewable share.
Glass Window Bridge, EleutheraGuarantee ~US$90m (ceiling)
Government guarantee of about US$90m for the bridge.
New Providence hospital and Family Island clinics~US$31.6m (allocated)
About US$20m initial outlay for a new hospital and US$11.6m for clinics.
New Grand Bahama high school (CDB-financed)Not disclosed
High school funded through the Caribbean Development Bank.
Digital transformation and Sand Dollar integrationExtra US$4m for Sand Dollar
National CIRT, FOI portal and other e-services; extra US$4m to integrate the Sand Dollar into government payments.
Business opportunities
Solar+ESS IPP participation or equipment supply
🔒 Why-now and buyers — analysis member ₩19,800/mo
E-government and digital payment integration
🔒 Why-now and buyers — analysis member ₩19,800/mo
Open this week
Hospital design and medical equipment package
Budget funds a new hospital start and clinic upgrades.
Ministry of Health, Public Hospitals Authority
Skills training and e-learning platform
🔒 Why-now and buyers — analysis member ₩19,800/mo
Free members get a human-reviewed summary by email for up to 3 countries a month (sent within 24h). BUILD members get them all.
Korean support schemes
- IDB procurement (Korea is an IDB member) · Inter-American Development Bank — Firms from member countries can bid on IDB-financed works such as drainage and water.
- SME Export Voucher · Korea SMEs and Startups Agency — Voucher support for overseas marketing, translation, certification and consulting for Korean SMEs.
- K-SURE short-term export insurance and project guarantees · Korea Trade Insurance Corporation — Covers buyer non-payment and country risk, and guarantees overseas project finance.
Official notices
Office of the Prime Minister, The Bahamas
- 2026-11-05 PM Davis lectures at Middle Tennessee State University on developing nations and digital colonisation
- 2026-11-04 PM returns from CHOGM 2026 with stronger ties to Rwanda, Ghana and Namibia
- 2026-11-01 Public consultation opens on a framework for Grand Bahama's future
- 2026-10-26 Government portal publishes the August 2026 awarded procurement report
Disaster · conflict · epidemic
Stable 2026-11-07
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Earth & space
Credit rating · FX
S&P BB- (stable, upgraded Sep 2025) / Moody's upgraded Apr 2026 (level unverified) / Fitch unverified · K-SURE Unverified · BSD 0.0%
Sanctions
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Not subject to any country-level UN, US, EU, UK or Korean sanctions programme.
