Cooperation between CDM and Korpodeko
WILLEMSTAD – The cooperation between Curaçao Dry Dock Company (CDM), CDM-Holding Inc. and the Curaçao Development Coorporation Korpodeko has led to green light for the increase of commercial activities in the maritime sector. As was announced by the Minister of Economic Development, Stanley Palm in a press conference last week Friday, CDM has taken a major step in the process of bringing the company back to its glory days in the international maritime sector.
Korpodeko, as a development institute in Curaçao, recognizing the stabilizing influence CDM could have on the economy of the island and its function as a center of execution, education and exportation of Curaçao’s resources, has combined efforts to facilitate a financial solution to resolve the multimillion dispute which affected the CDM and the maritime sector in the last seven years. The action of this institution will give CDM the necessary space to restart its efforts to bring back the company to the top.
Blessed with its location and natural harbors, Curaçao has always been able to count on the maritime sector as one of its economic pillars, which generates foreign exchange earnings. Activities in the maritime sector cause a considerable secondary effect which represents millions in earnings for various small and large entities, e.g. Curaçao Ports Authority (CPA) and other government companies. During the last seven years of the dispute between the CDM and the Cuban workers, Curaçao has lost a considerable amount of foreign exchange from the maritime sector. As an autonomous country, the economy has suffered from the lack of input from the activities at the CDM.
According to the Director of the company, the CDM is now able to negotiate the more than 400 petitions for projects they receive annually. “Looking towards this great opportunity, CDM recognizes Korpodeko as the correct partner to deal with this risky relation,” said Martina.
Korpodeko and CDM are satisfied with the agreement and are both pleased that the dry dock can focus now on attracting commercial clients for the company.