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GAIA Inc. Signs MOU For Public Private Partnership

Building on the Barbados-UAE State-to-State Memorandum of Understanding (MOU) earlier this year, supporting closer cooperation of commercial activities, the Grantley Adams International Airport (GAIA) Inc. and the Office Of H.H. Sheikh Ahmed Dalmook Al Maktoum of Dubai and Agencias Universales S.A. of Chile announced today a MOU to finalise contractual arrangements towards a new Public-Private Partnership (PPP) for the investment, development and operation of the airport, a hemispheric cargo hub, expanded airlift and additional luxury hotel capacity. 

Background

The Government of Barbados is keen for more and better employment opportunities for all Barbadians. In the international transport sector, this can only come through an investment in Grantley Adams International Airport of approximately BDS$300 million that improves the customer experience, upgrades the infrastructure, develops retail revenues, a hemispheric cargo hub, and links these investments with initiatives for new airlift and hotel capacity. The Government of Barbados recognises that without substantial investment, the airport will not be able to maintain standards and certifications in the long run.

At the same time, the Government of Barbados is in a debt-reduction program to safeguard the value of the Barbados dollar. As a result of that program, the ratio of national debt to national income peaked at 176.8% in 2018 and, despite the pandemic, is now at 119.6% – almost halfway to the long-run sustainable target of 60%. But this track leaves little room on the Government’s balance sheet for substantial addition of debt for required airport investments. 

The Government of Barbados also has no desire, under any circumstances, to sell the Grantley Adams International Airport. Consequently, the best avenue for new investment is a Public-Private Partnership which brings investment and international airport management experience and expertise in return for sharing airport revenues.  

Partnership 

The proposed Public-Private Partnership follows the earlier MOU between the Governments of Barbados and the UAE that looked towards closer commercial interests, especially in the transport and travel sectors.

The Government of Barbados is pleased that in The Office of H.H. Sheikh Ahmed Dalmook Al Maktoum, it has found a partner with the shared priorities of protecting and expanding national employment through investment, training, service excellence and certification, employee and customer safety, net-zero targets, higher revenue growth and better integration between airport-cargo-air lift and hotels.

The partner group, led by the Office of H.H. Sheikh Ahmed Dalmook Al Maktoum of Dubai and Agencias Universales S.A. of Chile, has substantial experience in airport passenger and cargo operations in over 20 countries across three continents. In addition to the approximately BDS$300m to be invested in the airport by the Office of H.H. Sheikh Ahmed Dalmook Al Maktoum of Dubai, The Office is committed to coordinating and facilitating investments in new hotels and airlift.

Quotes

Barbados’ Minister of Tourism and International Transport, Ian Gooding-Edghill said: “We are excited about the prospect of more jobs, training and certification across the eco-system of the airport, airport services, and tourism sectors. I know that change can be unsettling, even if positive, so a critical component of this potential PPP is that there will be no change in the ownership of our airport and no change in the terms and conditions of employees. We have also tried hard to keep all workers and their representatives updated and consulted about developments, opportunities and challenges. I commit to continue to do so and keep the public updated.

To that end, I will announce a town hall meeting shortly to present the plan and answer any questions Barbadians may have. I thank the Government’s Negotiating Committee, and its Chairman, Avinash Persaud, for getting us here with the strong support of the Permanent Secretary in the Ministry, Francine Blackman, GAIA Inc.’s Board and Chairman, Dr. Jerry Emtage, and GAIA Inc. staff, led so well by CEO Hadley Bourne.” 

Chairman of Grantley Adams International Airport Inc. Dr. Jerry Emtage said: “I welcome our potential new partners and look forward to seeing the broader positive impact on Barbados of an upgraded airport, greater airlift and more hotel rooms. I thank my Board members for their help in weighing up many complex issues.” 

Grantley Adams International Airport Inc. CEO Hadley Bourne said:  “My team and I have spent many months discussing with our potential new partners at commercial and technical levels. I can vouch for their expertise and understanding of our issues, challenges and opportunities. I am pleased that we have a strong investment plan to maintain and upgrade the airport. I believe visitors, staff and Barbadians will appreciate the differences they will see in a couple of years. I thank my team who worked assiduously supporting the negotiation and planning, in particular, Gale Yearwood.” 

His Highness Sheikh Ahmed Dalmook Al Maktoum said: “We are very pleased to collaborate with the Government of Barbados on this project. We are looking forward to positively contributing to the economy of Barbados by creating jobs, improving airport infrastructure and facilities and promoting tourism in the country.”

Mr. Fernando Rodriguez, CEO of Agencias Universales S.A., said: “We are very excited about our partnership with the Government of Barbados and the Office of H.H. Sheikh Ahmed Dalmook Al Maktoum of Dubai. We are committed to the success of this project and making every Barbadian proud of their airport and the upgrades to come.” (PR/GIS)

Grantley Adams International Airport Inc. and The Office of His Highness Sheikh Ahmed Dalmook Al Maktoum of Dubai and Agencias Universales S.A. of Chile sign a Memorandum of Understanding towards a new Public Private Partnership for the investment, development and operation of the airport, a hemispheric hub for cargo, expanded airlift and additional luxury hotel capacity.

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COURTESY GARAGE INTRODUCES HYUNDAI GREEN MOBILITY FLEET 

As Barbados moves towards the United Nations Sustainable Development Goals (SDG,) members and friends of BIBA, the Association for Global Business, recently had a first hand look at the new Hyundai electric and hybrid vehicles as Courtesy Garage unveiled its Green Mobility Fleet. 

The new 2025 Santa Fe and Tucson models were unveiled by officials of Courtesy and BIBA – President, Marlon Yarde and Executive Director, Carmel Haynes; along with Allan Bayne, CEO of the Automotive Division of the Goddard Group and Andrez Greene, General Manager of Courtesy Garage, while the Ioniq 5 and Kona electric and hybrid vehicles were on display on arrival at the Mahogany Ridge event. 

Allan Bayne and Carmel Haynes unveil the new Hyundai Tucson

In welcoming guests to the event, General Manager Andrez Greene, stated that the launch marked the 103-year-old company’s move into a new sustainable chapter that aligned with the island’s visions of becoming a clean and resilient energy economy, that will support the National Energy Policy. He also explained that the Courtesy service team had undergone extensive training in EV Technology to ensure that clients were supported throughout their experience.   

Some of the guests who attended the Launch of the Courtesy Hyundai Green Mobility Fleet

“Our skilled technicians are trained to work on these advanced hybrid systems, ensuring your Hyundai receives the expert care it deserves. From routine maintenance to any potential repairs covered under the vehicle or high-voltage component warranties, we have the tools, technology, and expertise to keep your vehicle running smoothly and efficiently for years to come” stated Scott Bentham, the Service Manager at Courtesy Garage as he reinforced the words of General Manager Greene. 

Just before Hyundai Sales Manager Ryan Morris unveiled the new vehicles, he introduced the Sales Team of Lisa Boyce, Mechelle Clarke & Derek Harris to the audience and spoke about the Hyundai commitment to sustainable new energy and the company’s strategy for electrification. 

He explained that as the 3rd largest car manufacturer in the world, Hyundai still intended to grow, aiming to sell 2 million EV’s per year globally by 2030. He stated that they intend to offer a full lineup of 21 EV Models by 2030 ranging from affordable to luxury and high-performance vehicles.  

“This is a demonstration of what’s possible when the private sector aligns with the national development goals; and BIBA is proud to stand with Courtesy’s green initiative which reminds us of the power of partnerships in advancing sustainability” stated President of BIBA Marlon Yarde, as he welcomed all to the event. He urged the guests to make more conscious choices generally, ‘as we look to a low carbon future and we journey to a more resilient Barbados.’ 

In explaining the various conveniences which Courtesy had put in place for clients, Andrez Greene stated that with every EV purchase, Courtesy will provide a free home charger installation, “because charging should be easy, accessible and on your terms” he added. (PR/GIS)

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EXPORT BARBADOS TO LAUNCH ITS EXPORT-IMPACT (EXIM) PROGRAMME

Export Barbados is set to roll out a comprehensive suite of support mechanisms with the focus on protecting gains, expanding exports and strengthening the sector.

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Young Upcoming Executives Spend Time with Regional Executives 

Eleven eager young men with aspirations to become executives or entrepreneurs when they grow up, had a unique opportunity recently when they visited and sat with the most senior executives at the regional head office of CIBC Caribbean.  

The semi-finalists and finalists in the 2025 Mr. Executive Challenge had the opportunity to meet and ask questions of the members of the executive suite of the bank. 

Mark St. Hill chats with the students as he welcomed them to the Job Shadow Day at the bank, to his left is Donna Wellington, Chief Country Management Officer.

The students, representing their respective secondary schools, met with Chief Executive Officer, Mark St. Hill; Chief Financial Officer, Carl Lewis; Chief Risk Officer, Patrick McKenna; Chief Auditor, Khadija Bourne; Chief Country Management Officer, Donna Wellington; Deputy Chief Information Officer, Infrastructure, Neil Matthews deputising for the Chief Information Officer Esan Peters; Managing Director, Transformation Governance and Control, Doug Williamson; and Head of Country Barbados, Kemar Polius. 

The students engaging with Michelle Whitelaw – Director Personal and Business Banking as they visit the Warrens branch

St. Hill welcomed the young men to the bank, congratulating them on being a part of what he considered to be an excellent initiative, explaining that they had left a serious impression on him when they met at the entrepreneurship graduation ceremony a few weeks ago. He urged them to ‘Live your dreams and go for what you want to do.’ He congratulated all of them saying, “You have shown that you are a cut above the rest”

Kemar Polius, the bank’s new Head of Country for Barbados and Joseph Taitt-Small of Alleyne School engaged in active conversation just prior to lunch

The CEO said 70% of the bank’s workforce, and 50% of its leadership is female, noting “that is why it is important for the bank to be involved in programmes like this one, where males are encouraged to step up”.

The various executives also gave inspiring and reassuring words to the students, Donna Wellington explained that the day will serve to open their eyes to the many careers available to young men in the bank. She explained that while people normally think only of counting money in a branch, there are so many other careers in technology, marketing, risk, legal, human resources, and property management. She therefore urged them to “embrace, learn what you can, we want to open your eyes to what is possible.” 

Barbados’ new Head of Country, Kemar Polius shared with the students that he never saw himself sitting in a board room like the one they were in, and working at this level in a bank, but he was given an opportunity which he grabbed with both hands and made the best of it. He encouraged them to do the same. 

The general direction from the other Executives was for the young men to focus on what they wanted to do, examine every opportunity given and recognise that life is not a straight line. 

Mark St. Hill chats with the students as he welcomed them to the Job Shadow Day at the bank, to his left is Donna Wellington, Chief Country Management Officer.

Neil Matthews, in addition to his post at the bank is also a Lieutenant Commander of the Barbados Defence Force and has been coopted to head the Cyber Security and Drone Units to help protect the country from cyber-attacks. He said that as a teenager, he never envisaged himself being in this position, but people recognised some value in him and pushed him to achieve and he has never stopped learning.  He added that he would be back in ‘school’ to do a course from the following day.

Coordinator of the Mr Executive Challenge, Winston Cumberbatch, explained how the students reacted “For weeks they had been looking forward to the Job Shadow with great anticipation. However, none of them could have envisioned what actually took place. They were totally blown away by the level of interest, hospitality and inspiration that the CIBC Executives gave.”  

Following that eventful meeting with the executives, the boys were taken on a tour of the bank’s departments where they were able to meet staff members who explained the duties and operations of their departments and answered many questions from the curious young men, as they sought to understand the areas and the opportunities there. 

They visited the Treasury department, where the team explained the department that manages the bank’s financial resources – the cash in circulation, capital management on a regional level.  This department is the one that makes sure there is cash available when and where it is needed. The young men quizzed this team on how they managed the foreign exchange with the amount of shopping that Barbadians do online with Amazon and Shein, and they also wanted to know if the bank had adopted AI as yet. 

The Compliance team told them about the three areas under their portfolio – AML (Anti Money Laundering), Compliance and Advisory Sanctions. The next stop at HR (Human Resources) was where they had a chat with Jacintha Hinds, Officer, Human Resources, who shared her passion for HR and answered their many questions about qualifications and the issues that affect how people behave. 

Other departments which the students enjoyed visiting were the Legal department, Corporate and Investment Banking, before they went on a tour of the Warrens branch across the street, following which they sat down to a sumptuous lunch with the executives in the company’s board room.

The afternoon session saw them visiting the Marketing, Communications, Engagement and Technology units before they left and headed home, full of information which they can now process for their own careers. 

In wrapping up the session, Coordinator Winston Cumberbatch added “The operations knowledge imparted during the tour of the office and the bank, along with the questions that followed, made the occasion an educational engagement of the highest order, which could not have been possible in the classroom.  As Coordinator, I am extremely grateful to CIBC Caribbean for going beyond their financial support to offer such a life changing experience to these well deserving young men from eleven of our secondary Schools.” (PR)

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