Port project seeks partnership of both private and public sector

Arturo Vasquez

Once the project comes into fruition, it will be divided into two basic components.  According to Vasquez, there will be an ownership aspect, as well as an operational one in which investors can participate in the running of the operation.

Arturo Vasquez, Receiver/C.E.O., Port of Belize Ltd.

“This is just a proposal.  We are look at it in depth, this is about or third or fourth meeting with all these parties.  What we are looking at really is sort of setting up this thing in a way where it’s a public/private sector investment, really meaning that in the private sector area, of course, we are looking at the bottom line.  The public sector, meaning the government, would have to be looking at the profits they are getting by the overall development and improvements to the entire country and, of course, any agro-productive sector you talk to will tell you that something like this is more than necessary.  So, we are looking at it where we would, we are looking at it in a frame where we are inviting investors, people to be able to invest in this company.  The same operators or the same [people] could become owners of this operation.  We’re looking at separating it in perhaps a landlord development company and then an operational development company which means the landlord development company does the development, the dredging, the building of the infrastructure and then you have the operational company at the side that would be looking at the equipment.”

If given the green light, it is estimated that the project can be completed and become operational with an eighteen-month period.