CABINET NOTES: The Cabinet proposed that a new facility be introduced for the new financial year. A grant of up to $10,000 will 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.
The Cabinet expressed disappointment that, despite, a number of products and investment opportunities have been proposed to the public no serious interests have been received. The Cabinet remarked that these opportunities were earmarked for local investors with all attendant concessions.
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The concern about the unwillingness to take up these investment opportunities may be a manifestation of a highly investment risk averse culture.
Several initiatives has been proposed over the last 10 years, the most notable being the Fort James development plan (developed, circulated and presented at a public meeting at the Multipurpose Centre), the Willoughby Bay development project, the Shell Beach development and the Morris Bay resort development. An investment symposium is being proposed to bring stakeholders and potential investors together in a forum to discuss investment in Antigua and Barbuda.
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