Antigua and Barbuda: Prime Minister Gaston Browne launched the ABLP Manifesto 2023 last week and highlighted various successes of his administration over the previous eight years. The Manifesto highlighted that the business community had shown great confidence in the Government and the economy.
It said that over the last eight years, the business community, including both local and foreign investors and private citizens, have shown huge confidence in the ABLP government and the economy. They have formed a partnership with the Government in which their investment is encouraged by tax and duty-free concessions.
Between 2014 and 2022, private sector companies and individuals invested billions of dollars in Antigua and Barbuda. Instead of banking its profits abroad, the private sector has invested its money in Antigua and Barbuda, adding to greater growth, more jobs, and expanded national wealth.
PM Gaston Browne said that several visible indicators of the private sector confidence in stewardship of the ABLP Government include the following:
- The number of new businesses constructed and opened on Friar’s Hill Road, All Saints Road, the Falmouth/ English Harbour area, Blue Waters Main Road, Perry Bay Main Road, Powells, Factory Road, and Sir George Walters Highway
- The construction of Canada Place, the Global Headquarters of Business Mogul Calvin at a cost of US$30 million
- A large number of new homes and apartment buildings that have been constructed throughout Antigua at a value of over EC$600 million
- The opening of new restaurants, retail stores, and mechanic workshops
- The investment of hundreds of millions of dollars by Global Ports Holdings in upgrading, expanding and improving the Cruise Ship port in Antigua
- The continuing expansion of the American Medical University of Antigua
- The expenditure of almost EC$300 million on luxury properties at several locations, including JumbyBay, Windward Beach, Pearns Point, Galley Bay Heights and Mill Reef Club
- A 535 feet Superyacht Dock at locally owned Falmouth Harbour Marina, accommodating the world’s largest superyachts, at the cost of EX$9 million (with government concessions); It is the only dock of this size in a marina anywhere in the Caribbean
- The investment of more than EC$1.5 billion by PLH Ocean Club on Barbuda which now employs 600 persons
Notably, a large investment of business people has shown trust in the ABLP as no businessperson, or private individual invests money in any country whose Government and economy they have no confidence.
The business community put their money where their confidence is – in the Antigua and Barbuda economy and the ABLP government. With this private sector confidence and trust, the ABLP government will continue to build the economy of Antigua and Barbuda, bringing more employment, greater growth, social progress, and economic prosperity for all.
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