The memo discusses a potential joint venture between The West Indian Company Ltd., Island Capital Group LLC, and the Virgin Islands Port Authority to manage and operate cruise ship terminals in the USVI. It highlights the economic challenges faced by the Virgin Islands, such as high unemployment, fiscal challenges, and competition from neighboring islands. The memo proposes leveraging existing assets, like the cruise ship industry, to spur economic growth. It outlines the fragmented approach to the cruise ship industry in the USVI and suggests a unified management structure to better leverage port infrastructure and improve passenger distribution to retail centers. The memo also addresses financial challenges faced by WICO and proposes a public-private partnership to address these issues and enhance economic growth in the region.
documents/EFTA01106172.pdf
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