Antigua and Barbuda offers a business-friendly regulatory environment that is “conducive to profitability,” Prime Minister Baldwin Spencer told members of the business community in Hong Kong and Shanghai on his recent trip to the Far East.
“We offer good communications and infrastructure and an educated, skilled and highly adaptable work force,” Mr Spencer told delegates at a breakfast meeting, according to reports in the regional media.
He went on to add: “We offer to foreign personnel involved with foreign investment projects ready access. We have introduced integrity legislation intended to eliminate corruption from the approvals processes for investment projects.”
As part of a revamp of the jurisdiction’s financial services sector, Spencer explained that the government has completed the preliminary work for the establishment of The Antigua and Barbuda Investment Authority, which will act as a “one stop regulatory and facilitation agency”.
“We have an established and reputable banking sector, with strong regulatory measures to protect its integrity. We are reorganizing our international financial services environment,” he stated.
Spencer also revealed that he is pushing forward a project to establish Antigua as a major trans-shipment hub for the Caribbean and Latin America region.
“Our geographic location is ideal for such a facility,” he observed.
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