{"id":103158,"date":"2020-02-18T08:36:25","date_gmt":"2020-02-18T12:36:25","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=103158"},"modified":"2020-02-18T08:36:25","modified_gmt":"2020-02-18T12:36:25","slug":"local-business-owner-says-antiguas-economic-development-model-similar-to-slavery","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/local-business-owner-says-antiguas-economic-development-model-similar-to-slavery\/","title":{"rendered":"Local Business Owner Says Antigua’s Economic Development Model Similar To Slavery"},"content":{"rendered":"
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Local businessman Eaves Ephraim says Antigua, as well as the rest of the region, is following an archaic model of economic development, which is more similar to slavery than to any contemporary model of development.<\/p>

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Local businesses appear to be at a financial disadvantage due to the number of concessions given to foreign businesses investing in Antigua and Barbuda.<\/p>\n

Antigua ranks number two in the Eastern Caribbean Currency Union (ECCU) in the value of tax incentives handed to overseas investors.<\/p>

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\u201cThe concessions put the local businesses at a disadvantage in that we have to carry the burden of the taxation in this economy,\u201d said Ephraim.<\/p>

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Ephraim added that the government has created a business environment that is \u201chostile\u201d to native businesses.<\/p>\n

According to International Monetary Fund (IMF) Mission Chief for Peru and Antigua and Barbuda, Leo Bonato, there seem to be no clear rules on which concessions are given and as such it creates an uneven playing field for local businesses.<\/p>

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Bonato also stated that the country is not getting the level of tax revenue that it could because of the excessive amount of concessions given to foreign direct investors.<\/p>\n

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Local businessman Eaves Ephraim says Antigua, as well as the rest of the region, is following an archaic model of economic development, which is more similar to slavery than to any contemporary model of development. Local businesses appear to be at a financial disadvantage due to the number of concessions given to foreign businesses investing […]<\/p>\n","protected":false},"author":3,"featured_media":15011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-103158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\nLocal Business Owner Says Antigua's Economic Development Model Similar To Slavery - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/local-business-owner-says-antiguas-economic-development-model-similar-to-slavery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local Business Owner Says Antigua's Economic Development Model Similar To Slavery\" \/>\n<meta property=\"og:description\" content=\"Local businessman Eaves Ephraim says Antigua, as well as the rest of the region, is following an archaic model of economic development, which is more similar to slavery than to any contemporary model of development. 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