CAB-I Continues to Make Strides

Construction projectsAntigua St. John's - The Antigua & Barbuda Investment Authority's (ABIA) Construct Antigua & Barbuda Initiative (CAB-I) has approved over EC$150 million worth of construction projects to date, and an even greater impact is anticipated after the programme's close on March 31.

As a guest on Observer Radio on February 11, ABIA Manager for Economic Development & Planning Sherelyn Hughes-Thomas noted that thus far, phase II of the programme has garnered 193 applications. Since its launch in 2011, CAB-I has received over 500 applications. Of that number, 421 applications have been approved, with 163 occurring during phase II.

"We estimate that approximately $35 to 40 million has been pumped into the economy by way of salaries and wages and contractors fees and an additional 68 or so million in terms of materials, in Phase I," Hughes-Thomas said. "In phase 2, we are looking at approximately 20 million and with respect to labour, approximately 14 million."

CAB-I's success has contributed significantly to the steady upsurge of the nation's economy over the last two years - a fact supported by Eastern Caribbean Central Bank (ECCB) and International Monetary Fund (IMF) reports.

The Authority has not only been lauded for the fiscal success of its programme, but also the service provided by its staff, evidenced by a recent survey of CAB-I phase 1 participants.

"We have gotten rave reviews with respect to the administration and in respect to the benefits that people have had. On average, we have rated... 80 per cent favourability for administration, for the value of benefits and the speed of the programme," the ABIA manager said.

As for the ongoing work of the Authority, Hughes-Thomas added, "We have been working very diligently at strengthening the commercial base of Antigua and Barbuda and supporting businesses...What we are out there doing from day to day is supporting businesses that are challenged and helping them find solutions and find opportunities for them. We are helping people find jobs, we bring investors here, we are encouraging existing investors to reinvest and expand their footprint in Antigua & Barbuda. So we have been doing quite a bit of work."

CAB-I information and testimonials can be found on the ABIA http://investantiguabarbuda.org website. For inquiries, contact ABIA at (268) 481-1000 or This email address is being protected from spambots. You need JavaScript enabled to view it.

Reporting by Caribarena news, publishing by Ofer Shaked.

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