St. Vincent and the Grenadines on Monday signed an agreement with Global Ports Holding (GPH) to manage, develop and operate the country’s cruise port facilities.
At the signing ceremony in Kingstown, government officials presented the partnership as a way to make the destination more competitive in a fast-changing cruise industry, while keeping the facilities under government ownership.
They stressed that the success of the agreement should be measured not only by more ships and passengers, but by whether local people and businesses benefit.
The proposed development has two phases. The first will expand the existing Kingstown cruise berth. The second is to include a new cruise pier west of the existing facility and a cruise ship and mega-yacht berth on Clifton, Union Island.
Attorney General Louise Mitchell said the agreement requires GPH to invest at least US$20 million in phase one and US$60 million in phase two.
She described those figures as minimum thresholds associated with the agreement’s 30-year exclusivity.
The proposed investment could create opportunities beyond the port itself.
Government speakers pointed to potential gains for taxi drivers, tour operators, vendors, artisans, restaurants, farmers, fishers and other businesses that supply or serve visitors.
Prime Minister Godwin Friday said the aim is for increased cruise activity to support jobs, local sales and improved livelihoods across the country.
Minister of Ports Terence Ollivierre said the port should serve as an economic platform connected to communities nationwide.
He and other speakers said continued engagement among GPH, government and stakeholders would be necessary as the project moves from agreement to implementation.
The agreement also includes provisions intended to widen local participation.
Mitchell said a special purpose vehicle will be established to allow qualifying Vincentian nationals to acquire up to 30% of the company’s issued share capital.
The arrangement is intended to prioritise retail investors; institutional investors living in SVG could participate if retail demand does not fully take up the allocation.
The arrangement also addresses existing commercial tenants at the port. Mitchell said tenants would be entitled to continue operating on their current terms for three years from the operations commencement date.
She added that Vincentian tenants could remain beyond that period as long as they are not in default of their lease agreements.
The officials framed the port project as part of a broader effort to reposition SVG as a more competitive and distinctive tourism destination.
Tourism Minister Kishore Shallow described the country’s tourism themes as culture and celebration, marine paradise, and nature and adventure. He also cited work to strengthen air access, increase accommodation capacity, improve marketing and raise service standards.
GPH founder and chief executive Mehmet Kutman said the company would work with government and local industry partners, and emphasised the importance of developing visitor experiences on shore.
His remarks also highlighted the company’s view that the Caribbean could benefit from growth in cruise capacity and demand for luxury travel.
Environmental protection was a recurring condition in the government’s vision for growth.
Shallow and Friday said tourism development must preserve the coastlines, reefs, beaches, marine resources and natural heritage that help attract visitors.
Friday also said the government would continue to scrutinise implementation and keep the national interest paramount.