Premier Reuben Meade reports on Dubai quest
Premier Hon. Reuben T Meade at his press conference when he reported on the outcome of his Dubai Mission in search of investors to partner in the development of the Little Bay development, in particular the town centre and the Carrs Bay Port responded to a question as to the constraints he faces when accessing moneys from investors.
He was asked about the constraints in light of the several constraints we report suggesting that it will take time, to find investors which meet criteria of financing and acceptable to the UK Government.
The premier responded when asked, “what constraint do we have with regards to our status…someone willing to give invest say, $US 100 million?”
His response was, “None whatsoever,” explaining: “I think the matter which you are dealing with is if we are dealing with a foreign government then that falls within the remit of the foreign office via the government. Once you dealing with a foreign investor, that is a matter for Montserrat and the foreign investor what we do is to keep DFID and the foreign office informed so that if there is in fact any questions in relation to those investors that they are apprised of what is happening and we also do due diligence on all investors. We go through the financial services commission we go through Interpol, do the search before we get involve with any investor.”
Suggesting that this seemed simple and easy enough, we asked some sources for their understanding. We were informed that much would depend on the relationship and agreements entered into, and indeed the due diligence which the UK Govt. would want to conduct, to be satisfied that Montserrat will not entertain radical elements seeking to entrench themselves into this side of the world.
In addition, one informed source expressed concerns about the authority and the control Montserrat would have on the container transshipment which the Premier now realizes he needs to sell the idea of the Carrs Bay port development as he shifts from what most believe is unsound for a port development geared at attracting the cruise ship business.”
