UAE to strengthen ties with Antigua and Barbuda

"We want to become the Dubai of the Caribbean," said Gaston Browne, the prime minister of Antigua and Barbuda, at a conference to highlight the various investment opportunities offered by the twin island nation.
Renowned as the 'Land of 365 Beaches', the Caribbean destination is a well-managed business hub with its low-tax structure, offering investment free from personal income tax, capital gains tax, inheritance tax and wealth tax. In addition, the government provides strong economic incentives for foreign investment and is positioning the country for further growth by targeting emerging markets and diversifying its economy.
Browne spoke in length about the islands, and how the nation wanted to build a stronger relation with the UAE. "We don't want to see the UAE as investors and partners. We want to see them as brothers, just a phone call away in the near future. Our aim is to build a strong sustaining relationship with this country. We also want to partner with the UAE to promote Antigua and Barbuda as tourism destinations for travellers in the Middle East and North Africa region. At our islands we like to say that the beach is just the beginning," he said.
Several high-level officials, who were part of a delegation from the nation, spoke at the event about how Antigua and Barbuda's long-term political and economic stability will see the nation witness a significant boost in investment and travel from the Middle East. Antigua and Barbuda ambassador to the UAE, E. Casroy James, noted that the conference served as a great opportunity to raise the country's profile and awareness to the Middle East and North Africa (Mena) community, increase tourism traffic, attract foreign direct investment, and promote the country's overall business climate.
"Antigua and Barbuda will open a new world to individuals who seek luxury, beauty, unexpected opportunities and unique experiences in an exceptional destination. Investors can rest assured that they will have the government's support, incentives and concessions to start their business seamlessly. As a law abiding nation, we will ensure that the money invested by the investors is well protected. From its location to its laws, Antigua and Barbuda is perfectly aligned for robust, lucrative, investments," James, said.
Speaking to Khaleej Times at the event, James said: "For the past two years, we have been working systematically with the government of the UAE to promote Antigua and Barbuda. Our hope is that key linkages can be made in the area of commerce, industry, business, tourism, and movements of people and capital. There are lots of similarities between our governments, and we figure that this forms the basis for a bond of friendship that will go from strength to strength. Right now, indirect investments from the GCC region are just north of half a billion US dollars. We feel that we haven't even scratched the surface in terms of what our vision is."
James also revealed that the government of the Caribbean paradise was working on increasing visitor traffic from the Mena region, and the country had an ambitious plan to increase its room stock to 10,000 in the next five years. "As you know, we have also signed air service agreements with the UAE, which pertains to future movements of people via the Gulf carriers that we are currently in talks with."
Located in the West Indies on the eastern edge of the Caribbean, Antigua and Barbuda are the largest English speaking isles of the Leeward Islands. The stunning beaches of the islands have long attracted celebrities from around the world, including double Academy Award winner Robert De Niro, who was part of the travel delegation to Dubai as a special economic envoy. The actor, producer, and venture capitalist is actively involved in the Caribbean tourism industry and last year invested $250 million in a project on the island of Barbuda.
- rohma@khaleejtimes.com