Prime Minister Gaston Browne Highlights Growth in CIP Revenues and Future Infrastructure Investments–CLICK HERE TO JOIN OUR WHATS APP GROUP
Prime Minister Gaston Browne has announced a significant increase in revenues from Antigua and Barbuda’s Citizenship by Investment Programme (CIP).
Speaking on the recent uptick in revenue, Prime Minister Browne attributed the growth to the stability and reliability of the country’s CIP compared to other regional programs.
“We have seen an uptick in revenues from CIP over the last several months,” Browne stated.
“This increase is largely due to the challenges faced by other CIP programs in the region. Our program has emerged as the most reliable and stable, and this is reflected in the increased revenues.”
The Prime Minister highlighted that Antigua and Barbuda’s conservative approach to the CIP has paid off.
“While other programs engaged in practices like on-selling, we played it safe and adhered strictly to the rules. This strategy initially resulted in lower revenues, averaging between $70 to $90 million annually. However, this year, we anticipate CIP revenues to potentially reach $200 million.”
The increased revenue is expected to have a substantial impact on the country’s infrastructure development.
Prime Minister Browne announced plans to allocate a significant portion of the CIP funds towards road construction and repairs.
“We plan to spend at least $100 million on repairing community roads and developing new roads across various parishes and communities.”
This financial will enable the government to expedite crucial infrastructure projects that will benefit the entire nation.
The Prime Minister’s remarks underscore the importance of maintaining a trustworthy and rule-abiding CIP, which has now positioned Antigua and Barbuda’s program as a leader in the region.
The anticipated increase in CIP revenues is expected to enhance the country’s economic stability and provide the necessary funds to improve public infrastructure.
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