Prime Minister Gaston Browne has publicly defended Antigua and Barbuda’s cruise port concession agreement with Global Ports Holding, revealing significant financial benefits following years of substantial private investment. The arrangement, once criticized as disadvantageous to the nation, has transformed the port’s economic trajectory from loss-making to revenue-positive operation.
Appearing on Pointe FM’s ‘Browne and Browne’ program Saturday, the Prime Minister detailed the comprehensive financial turnaround. Global Ports Holding has injected over $80 million into modernizing port infrastructure while simultaneously clearing approximately $21 million in inherited government debt that previously burdened the facility.
The concession agreement has fundamentally altered the government’s financial responsibilities, transferring major capital expenses from public coffers to private management. This shift has positioned the government as a net revenue earner rather than bearing continuous operational losses. Additionally, passenger head taxes have increased to between $3-$4 per cruise passenger, generating amplified revenue streams as tourist numbers recover post-pandemic.
Prime Minister Browne emphasized that enhanced facilities and expanded berthing capacity have substantially boosted the nation’s competitiveness within the Caribbean cruise industry. The agreement contains a reversion clause ensuring all port assets will return to government control after the 30-year concession period, characterizing the arrangement as a long-term infrastructure investment rather than a permanent transfer of assets.
The Prime Minister addressed critics directly, noting that objections frequently overlook both the massive scale of private investment and the port’s precarious financial condition preceding the agreement. He maintained that the partnership has successfully modernized critical national infrastructure while simultaneously stabilizing public finances, declaring the arrangement ‘extremely well’ for the country’s economic interests.