Government Expresses Disappointment at Lack of Interest in Investment Opportunities

Government Expresses Disappointment at Lack of Interest in Investment Opportunities

Prime Minister Gaston Browne

The Antigua and Barbuda government has expressed disappointment that despite several products and investment opportunities being proposed to the public, no severe interest has been received.

The government’s statement comes after the Cabinet, at its weekly meeting, said it had proposed introducing a new facility for the new financial year.

Government’s Proposal for Grant

The Gaston Browne government said a grant of up to EC$10,000 (One EC dollar = 0.37 cents) would be available for suitably qualified applicants.

Applicants will be required to provide detailed business plans and, once approved, could qualify for the grant, which will be in the areas of hospitality and agricultural development.

Disappointment and Concern

However, the government expressed disappointment at the lack of serious interest in investment opportunities and said that these opportunities were earmarked for local investors with all attendant concessions.

The concern about the unwillingness to take up these investment opportunities may be a manifestation of a high investment risk-averse culture.

Government’s Initiatives

The government said several initiatives had been proposed over the last 10 years, the most notable being the Fort James development plan, the Willoughby Bay development project, the Shell Beach development, and the Morris Bay resort development.

Investment Symposium

The government said an investment symposium is being proposed to bring stakeholders and potential investors together in a forum to discuss investment in Antigua and Barbuda.

Agricultural Development

Meanwhile, the statement said that the Cabinet had taken note that the Minister of Agriculture, Anthony Smith, is leading a delegation to Venezuela “to negotiate the acquisition of twenty-five acres of land for agricultural development by the government of Antigua and Barbuda as a part of the country’s food security program.”

Conclusion

The government’s disappointment at the lack of interest in investment opportunities highlights the need for a more proactive approach to attracting investors to the country. The proposed investment symposium and agricultural development initiatives may be steps in the right direction, but it is crucial that the government continues to monitor and address the concerns of potential investors.

FAQs

What is the government’s proposal for a grant?
A grant of up to EC$10,000 is available for suitably qualified applicants.
What are the areas of focus for the grant?
The grant will be in the areas of hospitality and agricultural development.
What is the concern about the lack of interest in investment opportunities?
The concern is that it may be a manifestation of a high investment risk-averse culture.