Cordel on Use of Seabed, “We’re Not There Yet”

Contained within the original agreement was provision for the use of the seabed to construct an artificial peninsula at the Port of Magical Belize.  Permission from the Ministry of Natural Resources is yet to be granted.  According to Deputy Prime Minister Cordel Hyde, nothing has been presented to his ministry for review and approval.

Cordel Hyde

Cordel Hyde, Minister of Natural Resources

“We’re not there yet, I mean we haven’t received an application that explains in details what’s the proposed expansion.  So we can’t really make a determination or a decision until we have a product for deliberation and we haven’t received that.  We keep hearing a lot of things and I’m sure we’ll get an application and when that time comes, we’ll look at it very critically.  As you know, the big challenge in this day and age is how do you balance development with the conservation and preservation of our God-given natural beauty.  That’s the big challenge, it’s called sustainable development and it’s oftentimes an elusive concept, but once they put in their application then we’ll have our technical people and experts weigh in to give us the best advice possible.”

Duane Moody

“Sir, have you guys gotten an update from ministers Mahler and Coye as to where they are with this new arrangement for this Portico development?”

Cordel Hyde

“There’s been some discussion, as has probably been said in the news before.  It’s a total scrapping and total aborting of the Definitive Agreement and what ultimately will be presented to Cabinet shortly, I believe, and later on to the House of Representatives, is an umbrella kind of legislation that will govern investments over a certain amount so that if you are in tourism or you are in some other sector, that you will be able to receive the same benefits once you are investing above a certain amount.  I think they will have some graduating kind of amounts, but we haven’t gotten the full details of that yet.  I expect that to come pretty soon.”