Saint John’s: The Antigua and Barbuda Government has reportedly said that it will host a national investment summit in March 2025 with the aim of promotion of national direct investment (NDI). The news came after an official statement was released after the conduction of the weekly cabinet meeting that clearly stated about the discussions and decisions taking place inside the Parliament.
As per sources, there were talks of implementing a rapid expansion plan for the country’s economy, creating opportunities for the local citizens and people residing in the islands of Antigua and Barbuda so that they can invest their resources in new and expanding industries within the national boundaries.
Details about the Investment Conference
The public are excited and there is a lot of anticipation building in regard to the Investment Conference. The conference is intended to bring together all nationals with significant resources as well as those with new ideas with insufficient capital under one roof so that all of them can participate as investors in the economy.
“The Cabinet is persuaded that there is no better time in the economic history of the nation to invest. More details will be forthcoming in the coming days and weeks. The Entrepreneurial Development Programme will take responsibility for this conference.”, the released statement read.
Additionally, the parliamentary meeting records also stated the Cabinet will also meet officials of the Financial Services Regulatory Commission (FSRC) in order to discuss the health of the Offshore Financial sector. “The discussion was also focussed on several offshore banks that are seemingly encountering difficulties, this sector has been beset with challenges that have greatly affected its profitability.”
“Under the law, the cabinet may not instruct the FSRC but must leave its decision making to its Board and Senior staff. The Cabinet has agreed that every effort is to be made to ensure the viability of the banks that may find themselves in difficulty” It is also to be persuaded to do all “that is necessary to protect depositors and the integrity of the offshore financial system.”, the statement said.
Cabinet to Consult with Unions and Businesses for deciding National Retirement Age
Other than this, there has been also statements regarding the consultation of the cabinet ministers with several worker unions, businessmen, company directors and other social groups in order to decide the feasibility of creating a National Retirement Age that would match the age of social security and government pensions that are to be paid to retired government employees.
“The cabinet has determined that having a uniform retirement age throughout the state would enable better planning and greater equity among the workers. The Cabinet reminds that an early retirement age of 60 years is still available, but taking that option results in a lower monthly payout than if retirement is taken at 65 years.”
According to reports, the Attorney General will take to the Parliament the ultimate decision that has been agreed to by both the workers, unions, company stakeholders and other remaining dignitaries.
