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‘Belize Has Lost!’ Coye to Senate Committee on Cruise Port Delays

“From a development perspective as it relates to this project, Belize has lost,” Minister of State Christopher Coye told the Senate Select Committee, as he criticized the stalled Portico Definitive Agreement, citing significant economic setbacks for the country.


Coye expressed disappointment that Belize missed out on major foreign investment opportunities tied to the proposed Port of Magical Belize project. The minister noted that the project, which involved global firms like Boscalis and Royal Caribbean, had promised "hundreds of millions of dollars" in foreign capital and job creation, but lamented that “there has been no foreign investment, no capital inflow, no employment generated.” He warned that without the construction of a modern cruise port, Belize risks losing its position as a cruise destination, stating, “the ships and their passengers will just pass us by.”


Coye also laid out a detailed timeline of events that led to the current impasse. He explained that Portico had originally signed a Memorandum of Understanding (MOU) with the previous UDP administration in 2020. When the new administration took office, it sought to encourage further investment and support economic growth, viewing the project as a critical part of Belize's development strategy.


In late 2022, Portico’s legal representatives requested that the government honor the promises made in the original Definitive Agreement by enacting the necessary legislation to support the concessions outlined in the document. By early 2023, Coye said he had received a copy of the agreement and, based on legal opinions from Senior Counsels Ben Juratovic and Douglas Mendez, prepared a Cabinet paper and draft bill in response. The Ministry of Tourism and other key stakeholders were consulted, and multiple revisions were made to the draft based on their feedback.


However, in mid-May 2023, when the Cabinet reviewed the final submission, it did not approve the paper or the draft legislation, halting progress on the project. Reflecting on the fallout, Coye remarked that “from a development perspective… Belize has lost.” He cited the absence of capital inflows and foreign exchange, adding that the country’s cruise tourism sector has experienced "degeneration, not modernization."


Cabinet Secretary Stuart Leslie, who also appeared before the Committee, had taken a similar approach to non-disclosure. Leslie, bound by confidentiality protocols, declined to provide details of Cabinet discussions related to the agreement, stating that he was “not in a position to assist the committee with any evidence or documents.” He noted that Cabinet deliberations and documents are protected by law and he was advised not to disclose any confidential information.

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