Earlier this week, we told you about the ongoing discussions about the way forward for cruise tourism in Belize. Government feels it is stuck because if it allows the Stake Bank project to proceed - it will end up having to pay head tax compensation to the owners of the Fort Street Tourism Village. So from government's position the possible compromise seems to be to encourage the owners of Fort Street to partner with Mike Feinstein - who is the owner of Stake Bank. But those FSTV owners, namely Royal Caribbean Cruise Line and Diamonds International don't want to be in a minority shareholders in Stake Bank - and Feinstein refuses to concede his majority position on his project. So, things are at a standstill.
But, yesterday FECTAB issued a release declaring that it quote, "completely condemns the concept of the stake bank project or any dockage project within the Belize district being sold to or developed by anyone except a Belizean developer," close quote. They say that if a cruise dockage project is developed by a foreign investor, quote, "we at FECTAB know that Belizean tourism elements will not be let in and…we would see the end of business in that sector for all Belizeans…" end quote.
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