Exclusive report by WorldWay Communication: The Honourable Charles Henry Fernandez, Minister of Foreign Affairs of Antigua and Barbuda, Mr. Ernell Casroy James, Ambassador of Antigua and Barbuda to the United Arab Emirates, and Mr. Nitin Singhal, Director of the Kayal Luxury Resort project, held a joint meeting with WorldWay Communication's first project in China on December 4, 5, and 6, in Beijing, Shanghai, and Shenzhen, respectively, achieving great success. At the meeting, the Minister of Foreign Affairs of Antigua and Barbuda delivered an impressive speech promoting the project—the Kayal Luxury Resort project. The full transcript of the translation is as follows:
【Speech by the Minister of Foreign Affairs of Antigua】
Ladies and gentlemen, good afternoon!
First, I would like to extend my special thanks to the organizing body, WorldWay Communication Group, and to Dr. Xing, the president of WorldWay Communication Group, for bringing us together. I appreciate their efforts in allowing us, as a small economy, to showcase our beautiful island and present the Kayal Luxury Resort project.
Antigua was first discovered by Europeans due to its strategic position on European trade routes. To this day, Antigua continues to be a major destination for tourists, thanks to its stunning scenery and unique proximity to major markets in Europe and North America. The tourism industry is the main driver of Antigua's economic growth, accounting for over 90% of foreign exchange and 80% of commercial activity. As the air transport hub of the Eastern Caribbean, Antigua has direct flights to the United Kingdom, mainland Europe, Canada, and the United States. To maintain our status as a sub-regional hub, a world-class new airport costing $150 million was fully opened this August.
Our country operates under a stable "British-style" democratic system, with a legal and regulatory framework that is quite standardized, providing strong protection for civil and commercial relations. Our citizens are generally well-educated and possess the skills and capabilities to build a modern economy.
Antigua and Barbuda actively engages in international relations and is a member of the following organizations:
• United Nations; • Organization of American States; • Commonwealth; • WorldWay Organization.
Our esteemed Prime Minister, Mr. Gaston Browne, has been actively promoting the work of the core members of the Foreign Affairs Office and personnel from both public and private sectors since taking office on June 12, 2014, including every official in his cabinet, with the aim of realizing the vision of transforming Antigua and Barbuda into an "economic engine." Although our island is small and our people are ordinary, we have achieved many extraordinary feats on the political and athletic stages both regionally and globally.
We firmly believe that the next great achievement of the people of Antigua and Barbuda will be to fulfill the beautiful vision set forth by the Prime Minister.
In the next five to ten years, our country's transformation will be based on the following seven key points:
First, sound fiscal and debt management—our goal for the next five years is to keep the debt level within prudent standards, not exceeding 60% of GDP.
Second, achieving positive and sustainable economic growth through increased foreign direct investment and job creation.
Third, controlling crime rates and improving national security systems.
Fourth, enhancing energy efficiency by gradually returning to renewable and sustainable energy use, aiming for 20% of domestic energy consumption to come from efficient energy sources in the next five years.
Fifth, strengthening talent training to ensure that every household has a university graduate in the next five to ten years.
Sixth, promoting the development of our sister island, Barbuda—since the new government took office, Barbuda has become one of the islands receiving the most foreign investment. The company Paradise, co-owned by movie star Robert Di Nero and Australian businessman James Parker, has invested $250 million in building a luxury resort on the island.
Seventh, sports and culture—the government is committed to nurturing young athletic talent, ensuring that athletes from Antigua and Barbuda can compete at world-class levels, such as in the Olympic Games. Antigua has yet to win any medals at the Olympics. This will be another great achievement we aim to reach in the next five to ten years.
【Meeting with the Minister of Foreign Affairs of Antigua】
Each of the above points actually requires independent discussion and comprehensive research, which is not covered in this conference. I mention these seven points to share the context in which Antigua will systematically achieve the grand vision of becoming an "economic engine." The key point is: the realization of this vision requires funding to support it.
The Citizenship by Investment Program is one of the avenues for providing funding to the government and people of Antigua and Barbuda. Our government will fully utilize the funds provided by the citizenship program to realize this vision and comprehensively improve the living standards of ordinary citizens. Of course, the government will execute this program very carefully and responsibly, while adopting the best regulatory mechanisms and operational frameworks in the industry. We believe that the sustainability and long-term effectiveness of this program are important cornerstones for achieving our economic development success.
Speaking of context, we must mention the significant challenges faced by many countries, including Antigua and Barbuda, due to the global financial crisis in 2008. Our country also experienced economic contraction, declining revenues, and global credit tightening. Although this was a global crisis, the government of Antigua had to face the strong expectations of its people for government support, efficient services, and economic development. The government understands the need to support economic development through public investment projects. The Citizenship by Investment Program is one of the measures that can help Antigua achieve its investment goals.
The Citizenship by Investment Program offers three investment options:
• Donation to the National Development Fund;
• Purchase of approved real estate projects—such as the Kayal Luxury Resort;
• Investment in approved business projects.
Ambassador Casroy James will share more details about the Kayal Luxury Resort project shortly.
We sincerely invite you to visit and experience our twin islands of Antigua and Barbuda, and you will understand why we are called the "Pearl of the Caribbean." Come and experience our perfect beaches, of which there are up to 365, meet our hospitable people, touch our historic monuments, enjoy world-class cuisine, and participate in lively festivals and carnivals!
I also assure you that Antigua and Barbuda is not only open for business but also places great importance on maintaining good relations with international partners such as the United Kingdom, Canada, the United States, and Schengen countries. While we implement projects and develop the economy, we commit to prioritizing your interests and concerns.
Finally, I would like to emphasize two points:
First, convenience. The passport of Antigua and Barbuda allows visa-free access to over 130 countries, and our Ministry of Foreign Affairs is currently working hard to further increase the number of visa-free countries, enhancing the value of our passport. Another key point I must mention is that our government is in discussions with the Chinese government regarding visa-free access for our passport holders to China, hoping to sign this agreement with the Chinese government within the next six months.We are the leading country in the Caribbean region for investment citizenship programs, and we will strive to ensure that products from Antigua and Barbuda are not only well-regarded in the Caribbean but also internationally.
Second, sustainability. As mentioned earlier, this investment citizenship program is very important for Antigua and Barbuda. It provides necessary income support for our health, education, security, and infrastructure. It will also stimulate the generation of numerous investment projects, creating thousands of jobs. Therefore, the government of Antigua and Barbuda will work diligently with all stakeholders to ensure the sustainability and effectiveness of this investment citizenship program.
Finally, I would like to reaffirm our government's commitment to collaboration in the Kayal Luxury Resort project. The government of Antigua and Barbuda holds a 20% stake in this project. We are also aware that His Highness Shaikh Tarik Bin Faisal Al Qassemi, a member of the UAE royal family, has other investments, but after thorough due diligence, we are confident that His Highness can complete this high-end project he proposed, so we commit to investing 20% and granting a series of concessions to ensure the project's feasibility.
Confucius once said: "Everything has its charm, but not everyone can perceive it."
The developers of the Kayal Luxury Resort project—the UAE royal family—came to Antigua and discovered its charm. I believe that when you come to Antigua and Barbuda, you will also perceive its charm.
Thank you all once again!