Cayman Enterprise City and the Civil Aviation Authority of the Cayman Islands have announced the expansion of CEC’s Cayman Maritime Services Park so that aviation services providers can be licensed in the special economic zone.
The park has been renamed the Cayman Maritime and Aviation Services Park and is one of six business parks in the zone.
The expansion is expected to assist the Civil Aviation Authority with retaining and growing its aviation client base.
The CAA, the Cayman Islands Shipping Registry and CEC are working together to create the largest transportation services cluster in the region. It is aimed at attracting international maritime and aviation services to set up a physical presence in the Islands.
With this latest expansion, the Maritime and Aviation Services Park will include aircraft owners and brokers, technology companies and startups engaged in aviation research and development, the head offices of aviation industry businesses, aircraft manufacturing and repair businesses, and businesses that provide management consultancy and other specialized services to the aviation industry.
The CAA already has a well-established reputation as a register for private aircraft operations. However, the Cayman Islands has had only limited success in attracting the segment of the market that caters to commercial aircraft operations, including those that require an Air Operator’s Certificate.
For the CAA to grant an AOC to an aircraft on the Cayman Islands Aircraft Registry, the operator must have its principal place of business in the territory. The new aviation park can now aid the CAA in fulfilling this need and expanding their offering.
Richard Smith, director-general of Civil Aviation, said the expansion is a positive development for the Cayman Islands.
Charlie Kirkconnell, chief executive of CEC, said the creation of the Maritime and Aviation Services Park is an example of how a government authority and private enterprise can collaborate and innovate for the benefit of the jurisdiction.
“This will bring the Cayman Islands opportunities that didn’t previously exist, and CEC will put the weight of our marketing and business development team behind the effort to promote the registry, the CMASP and the country generally,” he added.
News source: Cayman Compass