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Aug 4, 2023

Exit Definitive Agreement, Enter a New Investment Legislation

Prime Minister John Briceño

Replacing the controversial Definitive Agreement that was symbolically rubbished in the House of Representatives is a proposed legislation which seeks to address significant investments that include tourism development. According to Prime Minister Briceño, government is shifting from the kind of arrangements that gave rise to the Definitive Agreement.


Prime Minister John Briceño

“The idea is that we are moving away from this issue of a definitive agreement.  We want to have legislation, legislation that can cover any kind of investments, especially when it comes to cruise tourism.  We believe that it is something that is way better than what the UDP had with the UDP definitive agreement and is going to be done transparently.  We’ve been discussing with all the stakeholders and I’ve not seen the Cabinet agenda as yet, I’m just getting in.  I hope that it should be ready for the Cabinet to discuss and if the Cabinet approves it, then it would go to the House for it to be passed on into law.”


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