PORT ST. MAARTEN: Port St. Maarten Group (PSG) management has announced that it has adopted regulations that require all entities and persons that do business at the Dr. A.C. Wathey Cruise & Cargo Facilities to disclose and submit information on its ultimate beneficial owners.
PSG’s Chief Executive Officer Alexander Gumbs explained that the Port facilities fall under the scope of the International Ship and Port Facility Code (ISPS Code) as set by the International Maritime Organization (IMO). The measures under the ISPS Code were developed following the tragic events of September 11, 2001, for the security of ships and port facilities.
“The Dr. A.C. Wathey Cruise & Cargo Facilities are of vital importance to the local economy and good governance is a core principle of doing business with our local and international partners and customers,” Gumbs said.
“The past few years PSG has been plagued by several investigations and much effort and energy has been put in closing these chapters while we build on our relationships with internal and external stakeholders.
“In our continued effort to safeguard and enhance the safety and security situation at the Port facilities and to play our part in the global combat against money-laundering and the financing of terrorism, PSG has implemented several measures that promote good governance, both from ourselves as from our partners and customers,” CEO Gumbs pointed out.
Gumbs commented that other measures that PSG has implemented are aimed at compliance by Port users on the payment of their taxes and social premiums, payment of business license- and director’s license fees and to combat bribery and corruption in general at all levels.
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