“Sun, sand and sea are the fundamental attributes that a Caribbean destination must offer and we have that in many shades. However we also offer so much more.”

Your administration has been working very hard at increasing transparency, diversifying the economy, creating a more conducive business environment, and attracting investment to Antigua and Barbuda. You have a vision to become an economic powerhouse of the Eastern Caribbean. What does this mean and how do you plan to achieve this goal?

We want that Antigua and Barbuda charts and perfects a regional model for economic development that is fueled by foreign direct investment (FDI). The investment that we aim to attract is one that will bring about sustainable growth in all sectors of the economy, but in tourism in particular.

This will also stimulate local entrepreneurs to start their own businesses, to take advantage of the many opportunities that will naturally spin off from the service sector.

The resultant boom in employment and revenues will grow the economy and start a cycle of growth in our economy that will be self fueling. In order to position our tourism sector on a growth path, we have identified three main priority projects that must happen.

First: new tourism investments. We must ensure that we continue to enhance and improve the product that we offer so that we have first-class facilities and services being demanded by the modern discerning traveler. This investment must be done in a sustainable way that ensures the long-term viability of our tourism industry. At the same time it must create well paying jobs for our citizens and provide strong revenue streams to spur the country’s economic growth.

Second, increased airlift. This is extremely important, having affordable and convenient air access to Antigua and Barbuda where visitors can be on our beaches the same day of travel. This is critical to our efforts in driving air arrivals into the destination. Our new international airport which was completed in September is the most modern in the region with jet bridges, multiple VIP lounges, etc. We now have the capacity to handle up to two million passengers per year. This will position us to take advantage of the many opportunities available to us to grow the international airlift. This year alone we will welcome 4 new airlines making inaugural flights to the destination: JetBlue, from New York; Inter Caribbean Airways, from the Dominican Republic; Seaborne from Puerto Rico; and Alitalia with a weekly charter with Eden Viaggi from Italy. We are looking not just at our traditional markets, but potential new and growing markets such as Latin America and Europe.

Third: redevelopment of the Port of St. John’s. Work will begin shortly which will result in a complete overhaul of the Port of St. John’s to return it to the marquis status it once enjoyed in the cruise industry. The Harbour was dredged earlier in the year to accommodate safe anchorage for the larger ships as well as an extensive lighting of the channel approaching the port of St. John’s. The second phase of the development will include extension of the piers, widening of the turning basin, and a major redevelopment is planned for the landside facilities to improve the arrival experience.

The development includes a marina, casino, hotel and true high-end duty free shopping which will enhance the services on offer and encourage the over seven hundred thousand cruise passengers that will visit our shores this year to spend more money in the destination.

As Minister of Tourism, Economic Development, Investment and Energy, the key message that I bring to the readers of Foreign Policy and Peninsula Press is that Antigua and Barbuda is open for business. There is no question about it; investment is key to the new government of Antigua and Barbuda’s economic plan. We have revamped legislation and are formulating policies to make it more attractive for businesses to operate in the country. Our focus is clearly on securing more global investment. This will improve the economic prospects of our people and transform our twin-island nation into an economic tiger of the region.

The National Development Plan describes the importance of diversification of the economy. Developing a robust information and communication technology sector, agriculture and renewable energy will reduce imports and create jobs. Antigua and Barbuda Investment Authority is promoting these growth sectors and insuring that all business and investment processes are streamlined making investment in the country faster and easier than almost anywhere in the region. In fact, the World Bank ranked Antigua and Barbuda 71 of 189 countries in the world, but third in the Caribbean, after St. Lucia and Trinidad & Tobago, in the 2014 Ease of Doing Business Report. What are the biggest areas for development?

Among the areas for most significant growth in Antigua and Barbuda – in the ICT, agriculture and renewable energy sectors – are the provision business process outsourcing services, the expansion of the agro-processing industry, and the development of a sustainable export market in select root crops and specialty cuts of small ruminants, as well as development of waste to energy solutions and the creation of small manufacturing units RE products.

Antigua and Barbuda has long established itself as a prime jurisdiction for the delivery of international services due to the historical investment in ICT infrastructure and its commitment to training and new skills development. In this regard, companies involved in the provision of graphic design services, electronic editing and publishing, accounting, compliance and other financial services will find the jurisdiction ready for investment and poised to deliver the human resource skills required. Additionally, the automation of the operation of public and private enterprises domestically offers significant growth opportunity for small and medium sized firms.

As a largely service based economy, Antigua and Barbuda recognizes the central role of ICT in its growth agenda. In the tourism industry, we can more efficiently market our properties, attractions and unique selling points (USPs) through optimizing ICT platforms. We intend to use ICTs to strengthen the linkages between the tourism sector and our artisans and commercial farms to enhance the visitor experience and capitalize on niche markets.

As we position ourselves as a regional and eventually global leader in the delivery of value-added industries such as financial & business services, we can best access potential markets, concretize linkages with our clients, manage our operational processes and formalize trading relationships as we deploy the relevant ICT platforms strengthened by our human capital. More specifically, as we seek to improve efficiencies at our ports, as a jurisdiction we are committed to reducing clearance times while managing a safe and secure borders.

In agriculture, much work has been done through our Backyard Gardening and Zero Hunger initiatives and a number of other programs to increase food security. In conjunction with regional and international partners, these programs have resulted in the creation of dozens of home-based agricultural plots. This has not only improved the quality and quantum of fresh produce available on tables across the islands, but has also provided supplemental income for some households. Farmers continue to receive ongoing support in the deployment of good agricultural practices and the commercialization of their farms. The objective is to reduce the import bill, particularly with respect to production of fresh fruit, vegetables and livestock and related products.

Renewable energy is considered to be yet another area for growth, technological and environment advancement in Antigua and Barbuda. The country has recently passed the comprehensive Renewable Energy Act which positions the jurisdiction as a leader in the region in the development of renewable energies and environmental protection. This area is seen as one with potential for significant job creation as it will tap the environmental sensitivities of the country’s bright young minds in the development and deployment of new and relevant technological applications to be used in households, businesses, on farms and in commercial and government complexes. The intent is to leverage international diplomatic relations to access training opportunities and skills transfer to ensure the development of manufacturing entities and the deployment of appropriate technologies across the islands. Emphasis will also be placed on waste to energy solutions to address perennial issues of drought and the production of bio fuels on farms.

Energy security is an important aspect for any economy where power generating and distribution are expensive. There is a delicate balance between increasing the infrastructure development required to accommodate a growing economy with preserving the nature and beauty that makes Antigua and Barbuda so attractive in the first place. You have been very supportive of renewable energy and have recently launched your first 3MW project beside the VC Bird International Airport. How important is the adoption of renewable energy for Antigua and Barbuda?

The Ministry of Energy is making efforts on a number of fronts to advance energy security in Antigua and Barbuda. This flows from a holistic approach to energy which recognizes the need for a diversified approach to this vital sector which has ripple effects across all economic sectors and social classes.

A policy for Sustainable Energy is critical for Antigua and Barbuda for a number of reasons. From an economic perspective, high energy costs remain a major obstacle to competitiveness including in the highly competitive tourism sector. The policies and measures above are aimed at addressing short, medium and long term approaches to the problem of high energy costs which affects Antigua and Barbuda and other small island communities. The government is also seeking, as far as possible, to pass on savings from low oil prices to the consumer.

The shift to sustainable energy being advocated by the Ministry of Energy is also aimed at reducing imports of fossil fuel, the largest single import item, thereby reducing foreign exchange outflows while also reducing the country’s vulnerability to external oil price and supply shocks.

In terms of the island’s image, utilization of renewable energy demonstrates the nation’s commitment to preservation of its natural environment, and commitment to tackling the problem of global climate change through adoption of sustainable forms of energy. The 3MW site at the boundary of the VC Bird International Airport indicates to our visitors and the international community the administration’s resolve to move towards a green economy.

Policies and measures taken for energy security include:

• Acquisition of majority shareholdings in West Indies Oil Company ensuring public sector involvement, through a public private partnership, in the country’s major energy supply infrastructure.
• Promotion of renewable energy through establishment of a legal and regulatory framework for renewable energy. This provides a contemporary liberalized framework for encouraging development of renewable energy at consumer and grid levels.
• Establishment of 10MW of Solar Photovoltaics power to be integrated into the grid aimed at reducing demand for fossil fuel and facilitating capacity building for infrastructure.
• Enhancing the institutional arrangements for energy policy and management through strengthened management and technical capability within the Ministry responsible for energy. This includes enhanced cooperation with other key national energy agencies and stakeholders.

The recent successful Energy Week, involving partnerships between public and private sectors, is an example of the efforts to promote sustainable energy including among the youth.

A new charter was passed to promote the growth of the finance and trade between Antigua and Barbuda and the rest of the world. The Antigua Special Economic Zone and Nansha Economic Free Zone will include a financing and banking center, investment funds center, offshore wealth management center, trading port and logistics center and international product wholesale center. How will these economic zones support the country’s ambitions to become an economic powerhouse?

The Special Economic Zone Act was passed in parliament in September 2015. This will create Free Trade Zone areas where businesses can operate for primarily for export purposes. This will be based on the successful Chinese model where manufacturing plants and logistical warehouses can take advantage of the low or zero taxation and a more relaxed regulatory regime to make them more competitive in today’s global environment.

Because of Antigua and Barbuda’s geographical position with easy and convenient air and shipping links to the major cities of North America and Europe we are well positioned to take advantage of this opportunity for increased global trade. Our new international airport with direct air links to North America and Europe means easy same day connectivity to Antigua and Barbuda from the world’s major financial centers and the metropolis of North America and Europe. Customs & immigration procedures have been improved and reshaped at all ports of entry, making the process of entering the country for business and leisure passengers as well as for shipping in and out of Antigua and Barbuda fast and efficient.

We are confident that this initiative will be a success because Antigua and Barbuda has several key advantages that sets our country apart from others in the region that make us particularly investor friendly. It’s therefore important that I share these with your readers:

1. We have political stability. Antigua and Barbuda is a small, stable country both politically and socially, with a strong democratic system of government based on the Westminster (UK) system.
2. We are committed to providing safety and security. Antigua and Barbuda is one of the most secure and safest countries in the Caribbean and compares very well worldwide for low crime rates and the rule of law. The country has little or no exposure to large-scale security concerns, such as terrorism, cybercrime, and money laundering.
3. We have a well educated population. Antigua and Barbuda is one of the more prosperous states in the Eastern Caribbean with tourism, business service outsourcing and the financial services as the largest sectors of the economy. The literacy rate is over 95% with residents having a strong cultural affinity to North America and the UK. This is a strong attraction for companies such as call centers that are looking to relocate offshore.
4. There is a highly skilled labor force. Antigua and Barbuda has developed significant human resource skills in tourism, information technology-enabled services, financial services and construction. A network of colleges, as well as accreditation and certification bodies, ensures that skills quality meets world standards. Further, government policy is aimed at ensuring that the skills being produced match competitive business requirements.
5. We are proud of our robust telecommunications and ICT infrastructure. Antigua and Barbuda with a modern telecommunications infrastructure places a high priority on ICT as an important enabler for national development. As a consequence, the country has experienced rapid growth in its ICT sector, driven by major public and private sector investment.
6. We have a business-friendly currency and foreign exchange environment. Antigua and Barbuda is a member of the Organization of Eastern Caribbean States (OECS) within a common central bank and currency area. The currency is the EC Dollar that is pegged to the US Dollar at the rate of EC$2.70 to US$1. The country has no foreign exchange controls or restrictions on capital repatriation.
7. We have created very generous financial incentives. Antigua and Barbuda’s corporate income tax rate is 25% and exemption from payment or reduction in the rate is allowed depending on the level of capital investment and number of jobs to be created in new investment proposals. Further, exemption from or reduction in the rate of import duty on raw materials, components and machinery and equipment can also be granted.
8. The people of Antigua and Barbuda are very welcoming. They are noted for their friendly and welcoming nature, particularly towards visitors, whether tourists or investors. There is wide acceptance of the importance of attracting foreign investment into the country.
9. We have strong investor protection. Antigua and Barbuda has a Common Law system based on the UK model. The legal code guarantees investor protection, facilitating an attractive investment environment. In the Latin American Caribbean region, Antigua & Barbuda is ranked highly for enforcing contracts and protecting investors.
10. We have established a “One-Stop-Shop’ approach to investors. The Ministry of Tourism, Economic Development, Investment and Energy has a ‘One-Stop-Shop’ approach for investors via the Antigua and Barbuda Investment Authority to efficiently guide them through the procedures and approvals necessary for the successful establishment of their businesses in Antigua and Barbuda.

We believe that when you look at all the positives attributes that our country offers to the potential investor who is looking to make a good return on his investment, we will have no difficulty attracting the types of businesses such as offshore financial services in insurance and banking.

Online gaming for which we already have a strong reputation of having the skill sets needed and the infrastructure to support such companies is ideally suited to the Special Economic Zone. We are also targeting logistic parks, light manufacturing and assembly, as well as international call centers that can benefit from an educated ad skilled labor pool.

What is your strategy for tourism development and what kind of projects are there in the pipeline?

The new tourism projects in the pipeline will first and foremost have an immediate impact on employment of our people. In both the construction phase and after the projects have opened for business thousands of well paying jobs will increase the economic prospects of all Antiguans and Barbudans. The Government can expect significant increases in tax revenues from the added tourism arrival, the increase in employment and the customs and duties as well as the spin off in associated goods and service that will be needed for operating these new projects

Re-positioning Antigua and Barbuda as a premier tourism brand and attracting investors to complement that declaration has been very successful so far. In addition to the US $3 billion Yida project which will see the construction of several resorts, including a Hard Rock Hotel. We have also signed MOU’s for the Callalo Bay project at Morris Bay which will see the construction of a high-end resort valued at US $120 million. The Government has also signed an agreement for a $150 million with the Sun Wing Group out of Canada to build an additional five-star hotel on adjacent property to the Royal Antiguan. The project will be built in two phases. The $75 million investment in the first phase will see the construction of a “Royalton” hotel complex with 300 rooms, multiple restaurants, a casino, disco, full service spa, tennis courts and theatres. Phase two will include the $50 million construction of 200 mixed-use condominiums.

These and several other smaller properties, such as Tamarind Hills Resort, Pearns Point, The Hodges Bay Club and Barbuda Belle, which recently started operations, will all help to stimulating economic growth thereby reversing the many years of economic misfortune.

In addition to the renewed marketing trust in our major source market where we are using all channels to get both the tourism and investment message out on Antigua and Barbuda we have adopted another innovative approach.

Besides my outreach with portfolio responsibility for investment, the Prime Minister has appointed persons of influence in their respective scope of influence as Special Economic Envoys for Antigua and Barbuda. In their role as a Special Economic Envoy, these persons will attract foreign direct investment to Antigua and Barbuda including the country’s citizenship by investment program. Special Economic Envoys include the renowned actor, Robert De Niro, and businessmen Armand Arton and Martin Ellis Franklin. It is the Prime Minister’s intention to appoint renowned persons of high network and integrity in most major capitals of the world with the ability to attract investments to Antigua and Barbuda.

What is the biggest draw to Antigua and Barbuda and what sets it apart from other destinations in the regions?

Antigua and Barbuda is traditionally known for its magnificent pink and white sandy beaches. Having 365 beaches, one for each day of the year, is a unique selling proposition that is very compelling. Sun, sand and sea are the fundamental attributes that a Caribbean destination must offer and we have that in many shades. However we also offer so much more. Our emancipation celebration of carnival is an explosion of color, pageantry, and music, which has been dubbed the Caribbean Greatest Summer Festival. It is a must for those who would like to get an insight into our rich culture and heritage.

Another important draw is the Caribbean’s largest sailing regatta in the famous Antigua Sailing week, which is the 5^th largest yachting regatta in the world. Sporting activities around our rich cricketing heritage and Antigua and Barbuda being the home of cricketing great Sir Vivian Richards who is our only living national hero are strong selling points.

We are also known as a great family destination, for fine dining, a rich cultural history and much, much more. The iconic Nelson’s Dockyard, which is the only working Georgian dockyard in the world, still attracts one of the largest boat shows of mega luxury yachts in the world during the first week of December each year. The entire historic area is well on the way to becoming a world heritage site that will be a boost for attracting more visitors to our shores.

Antigua and Barbuda is also a leader in the global destination weddings and honeymoon market. The World Travel Awards, which is considered to be the Oscars of the travel and tourism trade, has recently recognized us as the Caribbean’s leading weddings and honeymoon destination for 2015 as voted by our travel partners.

This prestigious accolade is not just because of our natural beauty and appeal, but also primarily due to the excellent product that we offer in this particular area. For example, we are perhaps one of the few countries in the world that do not require a residency requirement in order to get married. This means you can walk off a cruise ship after breakfast and be married by lunchtime.

Almost every property on island offers a first-class dedicated wedding planning service, which has been honed to meet the needs of our guests. The fact that we have been nominated for these awards by our travel agent and industry partners speaks volumes to the high standard of our product and the exceptional service been offered by the thousands of hardworking Antiguans and Barbudans who are dedicated to this industry

Going forward the strategy is to ensure that we raise the awareness of the destination in the minds of the consumer in our major source markets and at the same time work closely with our travel partners such as major tour operators and travel agents both traditional and online.

In order to further boost our arrival numbers we have committed significant marketing dollars from the CIP revenue funds to ensure that Antigua and Barbuda is well marketed and promoted internationally.

We have also been creative in the use of social media and online marketing to reach consumers. It’s very important to understand who your market is and how today modern traveler is researches and makes a decision on where to go for a vacation.

This means that our promotions are very targeted which will ensure that they return the best investment on our marketing spend.

Antigua and Barbuda’s Citizenship by Investment Program (CIP) is one of the most successful in the world. How important is the CIP for the country and what kind of opportunities are available for foreigners to invest in the country?

The CIP is critical to our national and economic development. It was established in 2013. It is now ranked as the best in the region and 4^th in the world. To qualify current legislation requires either an investment in government-approved real estate to the value of at least US$400,000, a contribution to the National Development Fund (NDF) amounting to US$250,000, or a local business investment of at least US$1.5 million. As a special incentive, there is now a limited time period reduction of the NDF contribution to US$200,000

The application processing time promised by the government is 90 days and the applicant may be required to attend an interview in Antigua. Once citizenship is approved applicants must take an oath or make an affirmation of allegiance at an Embassy, a High Commission or Consulate of Antigua & Barbuda before receiving their citizenship and documents. Once citizenship has been granted citizens must spend at least 5 days in Antigua and Barbuda in a period of five years.

We believe that by making it attractive for potential investors to invest in companies such as our local utilities authority we can contribute toward building the critical infrastructure that our country needs to have in order to spur on its development. The availability of affordable and reliable electricity and telecommunications services are core components of the operating costs and critical to the success of any company. The ability to provide affordable sustainable green energy will revolutionize the way businesses operate in Antigua and Barbuda.

There are several reasons why Antigua and Barbuda’s CIP is so successful. First is the commitment by the Government at the highest level to attracting FDI by constantly reviewing processes and making amendments to legislation to be as efficient as possible in the process. For example reducing residency for qualified CIP applicants from 35 days to five days to facilitate applicants from China who had a challenge with the earlier stipulation.

A robust due diligence process for CIP applicants has ensured that the integrity of the program is not compromised. This includes the vetting of applicants by the US State Department; disqualifying applicants for CIP who have changed their original name by deed poll, and barring citizens of such countries like Iran, Yemen, Somalia, North Korea, etc. The Government is working with recognized international consultants such as UK based Henley and Partners to constantly ensure that our program remains secure, but still competitive.

Attendance at leading investment and tourism conferences has also raised the profile of the destination and led to new leads, which has translated into actual investment opportunities. Attending these events is now a permanent feature on the events calendar of the Ministry of Tourism, Economic Development, Investment and Energy.

Waiver of visitor visa requirements from countries such as China, India and Latin America, which represent a huge pool off high net-worth potential investors, has contributed to the success of Antigua and Barbuda’s Citizenship by investment Program.

As Minister of Tourism, Economic Development, Investment and Energy, what are your ambitions for Antigua and Barbuda both personally and professionally?

My family immigrated to the Caribbean nearly a century ago, escaping the war-ravaged and poverty-ridden Middle East. My father and uncles all grew up to be extremely successful businessmen who contributed and were active in all areas of local life. After an extensive education that included earning an MBA from the University of Miami, I came back to Antigua to work in the family business, Asot’s Arcade, named for my late grandfather.

In 1997, I was appointed by Honorable Lester Bird, then-Prime Minister, as his Chief of Staff.

After that I was appointed a Government Senator, as well as Minister of State, responsible for Public Works, Communications, Insurance, Energy and St. John’s Development Corporation. I continued in this role until 2001, when I was appointed Minister of Finance and Leader of Government Business in the Senate.

In the general elections of July 2014 the Antigua and Barbuda Labour Party was victorious and I was appointed the new Minister of Tourism, Economic Development, Investment and Energy. I am fully committed to this task and humbled by the confidence that the honorable Prime Minister has placed in me in leading the charge in our vital tourism industry, which is the major contributor to our country’s GDP.

My commitment is to make a meaningful contribution to the tourism industry that remains the lifeblood of our economy. I would like my legacy to be one where I would have given my time and talents to help transform this industry for unprecedented growth.

We have accomplished a lot in such a short period of time since we took up office and we must continue the task with the urgency and diligence that’s required. This is important because, what my team and I do directly affects the ability of the average Antiguan and Barbudan to put food on their table, send their children to college and to own their own homes.

In the political arena I am known as the “Action Man” who gets things done. I personally therefore hold myself accountable to going whatever is necessary to transform the economic landscape of Antigua and Barbuda to the betterment of all her citizens and residents who make their home in two of the most beautiful islands in the world.

To do so in a caring manner where I can humbly be of service to my country is net sum of my personal and professional ambitions.

Thank you Minister Michael.

Thank you!