Prime Minister Browne Continues to Increase Economic Activity for Antigua and Barbuda
ST.JOHN’S, Antigua and Barbuda – 17th October 2014…..Prime Minister Gaston Browne has acted again to increase economic activity and revenue for the Government and the Treasury, days following the passage of Tropical Storm Ganzalo.
On Thursday morning, October 16 2014, following the adjournment of Parliament, the Prime Minister met with a group of Greek and Japanese Asset Managers who specialize in ship registry and other kinds of business related to shipping. Dr. Babis Ziogas and Shigeki Fukuda led the private sector group.
The visiting group of seven was introduced to the Prime Minister by Ambassador Dwight Gardiner, the Director of the Antigua and Barbuda Department of Marine Services (ADOMS). Ambassador Gardiner explained that, to date, Antigua and Barbuda has registered 1,400 vessels that fly our nation’s flag. The ships’ owners pay considerable sums for that privilege, which benefit the Treasury of Antigua and Barbuda.
ADOMS’ object of collaborating with the Greek and Japanese Asset Managers is to increase the number of registered Antigua and Barbuda flagship vessels by 400, within the next year; the group specializes in attracting vessels from Asia, including Japan and China. A boost in revenues will then flow from this increase.
Panama now controls 70% of the ship registry market from Asia, and the object of marketing Antigua and Barbuda in Asia is to divert some of that rich traffic to our Caribbean destination.
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