The Cabinet of the Virgin Islands has approved the amalgamation of the BVI Ports and the BVI Airports Authority with initial studies indicating that there will be no job loss.
The decision was made during a May 28 meeting chaired by His Excellency, the Governor Mr. John Rankin, CMG, at the Financial Services Commission's Conference Room.
All members were present, except Minister for Transportation, Works and Utilities Hon. Kye Rymer, who was away on personal leave.
A post Cabinet meeting statement informed that the merger of the two entities was "Considered and approved", and the new entity to be established will be known as "the Virgin Islands Air and Sea Ports Authority' which will formalise under the proposed legislation - Virgin Islands Air and Sea Ports Act, 2021.
Cabinet decided that the Premier's Office submit drafting instructions to the Attorney General's Chambers taking into consideration the draft legislation provided and that upon completion, the Premier's Office will resubmit to the Cabinet for approval, complete with a feasibility report, inclusive of a cost-benefit analysis.
The Cabinet also noted that the preliminary analysis indicates that there will not be loss of employment at any of the two entities
Speaking to the amalgamation in February, Premier and Finance Minister, Hon. Andrew Fahie said that this is in an effort to reduce operational costs.
"Legislation will also be coming to merge the BVI Airport Authority and the BVI Ports Authority into a single entity. This will reduce the operations cost for these two bodies," he said during District One Report at the Cappoons Bay Recreational Grounds.
He also announced plans through legislation to turn the Water and Sewerage Department and the Virgin Islands Shipping Registry into statutory bodies.
"This will help them to become more profitable," he stated. The Premier did not indicate how soon the proposed Bills are expected to be taken to the House of Assembly.