Port St. Maarten Reiterates Investments in local Entrepreneurship for Cruise Experience to CIBC Officials


PORT ST. MAARTENOn Tuesday, senior bank officials from CIBC First Caribbean International Bank met with Port St. Maarten Management.  They were also given a tour of the Dr. A. C. Wathey Cruise & Cargo Facility.

Port St. Maarten Chief Executive Officer (CEO) Mark Mingo on Tuesday stated that the meeting was informative and at the same time the port made the case for commercial banks to strongly look at financing and investing in the tourism product in cruise experience projects that would grow the economy of the island and create employment opportunities for the populace.

Mingo added that it was essential and critical for banks to invest in new tours and cruise experiences in order for the destination to remain number one in the North Eastern Caribbean.

The CIBC First Caribbean International Bank delegation included Chief Executive Officer Gary Brown from the bank’s Barbados headquarters, Senior Corporate Manager David Solomon (Sint Maarten), Managing Director Barbados Operating Company Donna Wellington, and Interim Local Branch Manager Heidi Getrouw.

“CIBC First Caribbean International Bank is a bond holder with respect to the aforementioned that was floated and coordinated by the Central Bank of Curacao and Sint Maarten a few years ago.

“CIBC First Caribbean International Bank showed confidence in Port St. Maarten by buying bonds then, and today’s meeting and tour was to further strengthen that relationship, but also at the same time for the investors to learn about our future plans and investment opportunities.

“We are always looking ahead to create opportunities for the country and to ensure that our economy continues to grow.  That is our primary objective for our shareholder,” CEO Mark Mingo explained.

CIBC First Caribbean International Bank representatives were informed about the current state of affairs, the port’s Master Development Plan II, Integrity Committee, the civil investigation by the Public Prosecution Service, Investment Plan, Business Plan, as well as prognosis for cruise and cargo operations for 2016 and beyond.

The delegation was very receptive of the information provided and thanked Port Management for its transparency related to the aforementioned.

The bank representatives and port management were also taken on a tour of Great Bay on-board the Pilot Boat.

PHOTO CUTLINE: CIBC First Caribbean International Bank CEO Gary Brown (2nd from left), Port St. Maarten CEO Mark Mingo (3rd from left) with other bank representatives and port management officials.