EC$2 billion deal
Just days after being on the job, Antigua and Barbuda’s newly-elected Prime Minister Gaston Browne has signed an agreement for a EC$2 billion deal with a Chinese company.
The Memorandum of Agreement, which binds Yida International Investment Antigua Ltd., to the investment, will result in Guiana Island and surrounding lands transformed with the construction of five five-star hotels, 1300 residential units, a casino and conference centre, a 27 hole golf course, marina and landing facilities and a commercial, retail and sports facility.
“I promised the people that my administration would bring the type of investments to the country that will transform Antigua and Barbuda into an economic powerhouse and I am serious about that promise. This Memorandum of Agreement is the result of our determination to work in the interest of the people of the country,” Browne said.
Yida International Investment Antigua Ltd., is expected to invest over EC$200 million annually in the Antigua and Barbuda economy over the next 10 years as well as provide an Antigua and Barbuda presence in the People’s Republic of China to attract additional economically viable investments.