Give local business people the opportunity and the concessions to invest, Pringle urges Browne Administration

Give local business people the opportunity and the concessions
to invest, Pringle urges Browne Administration
 
Opposition Leader Jamale Pringle says the Government should be
looking to afford local investors the opportunity to contribute to the
development of Antigua and Barbuda.
 
There is too much dependence on foreign direct investments, many
of which have failed to materialize under the Gaston Browne
Administration, he notes.
 
Among the almost three dozen promised projects, Pringle points to
the Waldorf Astoria Hotel earmarked for his constituency, on which
construction is yet to start.
 
In the meantime, he says his people are waiting to find out how
much of the Cades Bay land was given away for this development.
 

Given the state of the economy, Pringle believes the time has come
for the Government to start looking for investors right here.
 
The Opposition leader says that, based on discussions he has had
with several business owners, they are willing to invest or to
partner with other like-minded persons and forge ahead with
specific projects.
 
What seems to be the hindrance to locals coming forward, he says, is
that they are not granted the same type of concessions as outside
investors.

Opposition Leader Jamale Pringle.
 
According to Pringle, the Government needs to focus on “localizing”
the economy, ensuring that those who have the means are given the
opportunities and concessions that foreign investors receive.
He notes that, sometimes, the foreign investors are not as financially
endowed. But, based on the agreements they forge with the
Government, they are able to source the capital for their proposed
projects.
 
The time has come to give such opportunities to homegrown
business owners and to Antiguans and Barbudans in the Diaspora
who want to invest their resources and support, Pringle says.
 
By doing so, the country’s economy would be a lot stronger and less
dependent on foreign direct investment, he concludes.