Business

PM flies to Miami for more Stake Bank talks

By Alexis R. Milan
Staff Reporter

Prime Minister Dean Barrow flew to Miami, Florida on Monday for a secound round of discussions regarding the proposed cruise docking port at Stake Bank.
During his visit, Barrow met with executives from Royal Caribbean Cruise Line, co-owners of the Fort Street Tourism Village (FSTV) who hold an exclusive contract to transport cruise tourists, valid until 2027.

Barrow, who returned to Belize on Thursday, did not reveal the details of what came out of the meeting, saying that he preferred to meet first with Michael Feinstein , the investor of the Stake Bank Project. That meeting is set for Friday.

The discussions are expected to chart a way forward to resolve the dispute between Feinstein and FSTV..
Barrow recently told the media during a press conference that the Stake Bank property was the only suitable location for step-off cruise tourism and government is supporting the Feinstein-led investment group.

The Prime Minister also indicated that FSTV stakeholders had expressed an interest in buying over Stake Bank and implementing the project themselves ,but in that instance the government would have to guarantee $80 million, which it is not prepared to do.

At the time, Barrow also said that he will approach the discussion with Royal Caribbean with much caution since he does not want to risk Royal Caribbean deciding to take its business elsewhere. S
“Still, we must do what’s in the best interest of the country”., the Prime Minister declared.

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