P.M. Briceño Says G.O.B. will Remain Out of Stake Bank/Portico Issue
The Briceño administration remains on the sideline, observing keenly the ongoing dispute between Portico Enterprises Limited and Stake Bank Enterprises Limited, over the purported existence of a Definitive Agreement that was granted to the Port of Magical Belize under the previous government. We have been reporting on recent developments between both entities involving their respective cruise tourism projects, as well as the exchange that has been taking place via a series of statements. Earlier today, we caught up with Prime Minister John Briceño and were able to ask him a few questions regarding the issue, considering the fact that his administration has remained relatively quiet on the matter. Viewers would recall that while the People’s United Party was in opposition in back 2017, party leader John Briceño wrote to Michael Feinstein, a principal of Stake Bank Enterprises, pledging its steadfast support for the Stake Bank Project. Now that the P.U.P. is in power, its government is mum on the matter.
Isani Cayetano
“I’d like to get your weigh-in on what seems to be a war of words between the two cruise port developers. There’s a back and forth between Portico and Stake Bank Enterprises over the so-called Definitive Agreement that has been given to Portico. Your government has not officially gone on record to comment on this matter.”
Prime Minister John Briceño
Prime Minister John Briceño
“And this is for a reason. They are two private entities throwing words at one another and that’s between them. We, as a government, we are here to be able to govern and to ensure that whatever investment or whatever approvals that were made by the Government of Belize can be carried out. If the Definitive Agreement, and I have not seen it, was signed by the minister responsible then obviously it is going to be binding because it is the Government of Belize that signed it. But I will not get into the back-and-forth between the two entities, that’s amongst them.”
Isani Cayetano
“I am not sure if this is perhaps a legal question to ask, but if it is found that the Definitive Agreement was given fraudulently, is there any way that your administration can perhaps rescind that contract?”
P.M. John Briceño
“As you rightly pointed out, that’s a legal question and that would be something that’s for the attorney general’s ministry to take a look at and then advise the cabinet.”
Reporter
“Is there any update from Waterloo regarding international arbitration over PBL [Port of Belize Ltd.]?”
P.M. John Briceño
“Well its’ not that they could ask for international arbitration.”
Reporter
“They wrote you a letter.”
John Briceño
“They wrote a letter that they want to apply to [invoke] the investment treaty that we signed and again, that’s their right if they want to do that. We know that we are trying to do everything properly, we’re trying to follow the law and that’s what I’ve said to Waterloo, I’ve said it to Stake Bank and I will say it to Port Magical, to all of them. Once you follow the law, you will have a government that is going to be supportive.”
