Prime Minister Says YIDA to Invest Additional US$100M in Antigua and Barbuda

Prime Minister Gaston Browne says Chinese investor Yida Zhang has committed to investing an additional US$100 million in Antigua and Barbuda over the next 12 months, signaling renewed activity tied to the long-running Antigua and Barbuda Special Economic Zone project.

In a social media post, Browne shared photographs of a meeting with Zhang and wrote: “We shook hands on a further US$100M to be invested during the next 12 months. While others quit whenever they experience setbacks; Yida soldiers on resiliently.”

The YIDA project, launched under the Browne administration in 2015, was promoted as a multi-billion-dollar development spanning large sections of northeastern Antigua, including tourism, residential, commercial, educational and industrial components within the Antigua and Barbuda Special Economic Zone.

Over the years, the project has attracted both support and criticism. Government officials have repeatedly described it as a major investment opportunity capable of generating jobs and economic activity, while opponents and environmental groups have raised concerns about its pace of development, environmental impact and special concessions granted to the project.

In 2021, Browne witnessed the signing of a memorandum of agreement involving Yida International Investment Antigua Limited and another investment company for projects including a medical university, hotel and financial center at Crabbs. At the time, the Prime Minister said the broader special economic zone had the potential to attract billions of dollars in investment over time.

The latest announcement did not specify which projects will receive the newly pledged US$100 million investment or provide a timeline for individual developments.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]