Charmaine Spencer, Director of Tourism for the Caribbean and Latin America at Antigua and Barbuda, alongside Else Petersen, CEO of EM Marketing & Communication, shared insights during their participation in FIT 2025 in Buenos Aires. The event, held on September 30, 2025, marked a strategic effort to deepen the Caribbean nation’s presence in the Argentine market. Spencer expressed her enthusiasm for engaging with Argentine travel agents and consumers, emphasizing the growing interest in Antigua and Barbuda as a premier destination. She highlighted the importance of understanding market expectations and providing the necessary tools to promote the islands effectively. The positive reception from Argentine visitors has motivated the tourism board to further strengthen its relationship with the region. Spencer noted the steady increase in Argentine tourists and the potential for further growth. She also discussed the evolving preferences of Latin American travelers, who are increasingly drawn to unique and exclusive destinations. Notably, the mention of Lionel Messi’s honeymoon in Antigua and Barbuda has piqued interest, showcasing the islands’ paradisiacal beaches and luxury accommodations. To enhance accessibility, Antigua and Barbuda has introduced several initiatives, including the new international airport in Barbuda, homeporting options for cruises, and a weekly charter flight from Cartagena. These efforts aim to simplify travel logistics and attract more Latin American visitors. Looking ahead, the destination is gearing up for a packed tourism calendar, featuring events such as Wellness Month, culinary festivals, and the Black Pineapple Awards, which recognize top travel agents. The ongoing commitment to visibility and industry engagement underscores Antigua and Barbuda’s dedication to becoming a leading Caribbean destination for global travelers.
分类： business
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Minister Hails Aquaculture as Growth Pillar for Antigua and Barbuda
Antigua and Barbuda’s Agriculture Minister, Anthony Smith Jr., has highlighted the pivotal role of aquaculture in the nation’s blue economy strategy. This follows the successful completion of the country’s inaugural fisheries training program, which certified 92 participants in modern aquaculture techniques. Speaking on ABS Television’s ‘Government in Motion,’ Smith emphasized that traditional fishing methods alone are insufficient to meet rising local demand and export potential. ‘Aquaculture will be a cornerstone of our fisheries and blue economy sector,’ he stated. The training seminar, conducted in collaboration with the People’s Republic of China, introduced participants to advanced freshwater and ocean-based farming practices. Smith praised China as the global leader in aquaculture and underscored the significance of this partnership in diversifying the nation’s food production. He also highlighted the role of Antigua and Barbuda’s Blue Economy Department, established less than a decade ago, in fostering sustainable marine-based income streams while safeguarding ocean health. ‘While we explore aquaculture opportunities, the preservation of our marine ecosystem remains paramount,’ Smith added. The initiative is part of a broader strategy that includes marine spatial mapping, ocean farming, and research collaborations with the University of the West Indies’ Centre of Excellence for the Blue Economy. Smith emphasized that aquaculture not only enhances food security but also opens new avenues for employment, entrepreneurship, and export growth. ‘If developed sustainably, this industry can generate significant value for our farmers and fishers,’ he concluded.
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Business Barbados agency ‘still a work in progress’
The newly established Business Barbados agency, aimed at overhauling outdated business systems and modernizing local business processes, is still a work in progress, according to Minister of Business Senator Lisa Cummins. Speaking at the launch of Global Business Week, Cummins emphasized that while the agency is designed to enhance the ease of doing business, immediate results should not be expected given the decades-old systems it is replacing. The agency, which replaced the Corporate Affairs and Intellectual Property Office (CAIPO) in February, is tasked with streamlining business registration and regulatory processes. Cummins urged the business community to remain patient but also to actively highlight any shortcomings in the system. She stressed that the transition from outdated practices to modernized systems is a long-term endeavor, likening it to the gradual process of changing behavior in child-rearing. The minister also called for a strategic shift away from relying solely on tax incentives to attract investment, advocating instead for a focus on substance, skilled labor, regulatory trust, and digital government. She revealed that the Economic Substance Act, a key component of the international business framework, is under review and will soon be open for public consultation. Proposed amendments to the act aim to transition Barbados from a nominal tax jurisdiction to a preferential one, aligning with international standards while maintaining investor appeal. Addressing concerns about skills gaps in high-value sectors, Cummins noted that recruitment efforts are underway, with advertisements already published. She also highlighted the importance of collaboration with global standard-setting bodies such as the OECD and the Caribbean Development Bank to address compliance, sustainability, and financing issues. In light of the increasingly volatile global economy, characterized by shrinking trade, geopolitical tensions, and rising costs, Cummins stressed the need for Barbados to adapt its strategy to remain competitive. She announced the completion of double taxation agreement negotiations with Hong Kong and Curaçao, expressing optimism that these will evolve into bilateral investment treaties. Additionally, she encouraged the global business community to support domestic financing mechanisms, such as the new Junior Stock Exchange, set to launch on November 4. Cummins concluded by urging a collective effort to confront economic challenges with vision, clarity, and purpose, aiming to build a more resilient and opportunity-rich economy.
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Guyana introduces 9-point foreign exchange control plan
In a decisive move to address the escalating outflow of US dollars, Guyana has unveiled a robust nine-point foreign exchange control plan. President Irfaan Ali announced the measures on September 30, 2025, following a high-level meeting with key stakeholders, including the Bank of Guyana, the Guyana Revenue Authority (GRA), and representatives from commercial banks. The plan aims to curb the outflow of foreign currency, which has surged to approximately US$1.2 billion in 2025, nearly quadrupling from the previous year. Among the key measures, importers will now be required to submit detailed documentation, including commercial invoices and bills of lading, to commercial banks before foreign exchange payments are released. This step is designed to enhance transparency and prevent system abuse. Additionally, commercial banks will closely monitor credit card usage to ensure that personal cards are not being used for business transactions. President Ali highlighted a significant increase in credit card transactions, which rose from US$91.3 million in 2023 to US$347.5 million in 2024, with 2025 already recording US$252 million. The Central Bank has also intervened in the foreign exchange market, providing US$332 million in 2024 and US$1.2 billion in 2025, with an additional US$160 million pending. The new measures also include stricter penalties for inflated invoicing and capital flight, mandatory local bank accounts for entities in the oil and gas sector, and the establishment of a single-window post-clearing system at the Central Bank. The commercial banks have expressed their support for the plan, which they believe will alleviate some of the challenges they currently face.
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IMA Grenada celebrates opening of new office
In a significant move underscoring its expanding role in the global investment migration industry, the Investment Migration Agency (IMA) Grenada has inaugurated its new headquarters at the Galleria Mall in Grand Anse. The opening ceremony, attended by government officials, industry leaders, and key stakeholders, marked a transformative milestone for the agency. The relocation reflects both physical growth and an organizational evolution to better serve its diverse clientele, ranging from international government representatives to high-net-worth investors and global service providers. The previous facilities had become inadequate to handle the agency’s increasing operational demands. IMA Grenada’s CEO, Thomas Anthony, emphasized that the new office space is not merely a relocation but a strategic enhancement. ‘This facility aligns with the caliber of work we undertake and our contributions to the economy and nation-building,’ Anthony stated. The new headquarters, located in one of Grenada’s most accessible commercial hubs, boasts state-of-the-art meeting spaces, advanced security systems, and a design optimized for both in-person and virtual interactions. Prime Minister Dickon Mitchell lauded the agency’s progress, noting, ‘IMA Grenada continues to grow from strength to strength. This new office, coupled with ongoing staff recruitment and institutional development, highlights its rising significance within Grenada’s public services.’ The event concluded with a ribbon-cutting ceremony led by Prime Minister Mitchell and Richard Duncan, Chairman of the Grenada Citizenship by Investment Committee, symbolizing the dawn of a new era for the agency.
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Jamaica’s unemployment rate drops to 3.3 per cent in July 2025 — Statin Report
KINGSTON, Jamaica — The Statistical Institute of Jamaica (Statin) unveiled encouraging data on Tuesday, revealing significant advancements in the nation’s labour market for July 2025. Compared to the same period in 2024, employment surged by 32,100 individuals, pushing the total employed labour force to 1,441,100. Notably, youth employment experienced a 7.2% rise, equating to 12,200 additional jobs. The wholesale and retail trade, along with motor vehicle and motorcycle repair sectors, emerged as the primary contributors to this growth. Simultaneously, underemployment—defined as part-time workers seeking more hours—declined by 5,400 to 25,400. Labour force participation also saw a notable uptick, increasing by 28,700 to 1,490,300, with males accounting for two-thirds of this rise. The overall participation rate stood at 69.1%, with males at 75.0% and females at 63.4%. Unemployment rates dropped from 3.6% in July 2024 to 3.3% in July 2025, driven largely by reductions among males and the prime working-age group (25-54 years). However, female unemployment saw a slight increase from 4.0% to 4.4%. Additionally, fewer individuals were outside the labour force, with the number decreasing from 694,200 to 665,500, particularly among males and prime working-age individuals. Statin emphasized that these findings underscore sustained positive momentum in Jamaica’s labour market, fostering economic stability and inclusive growth.
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Shein picks France for its first permanent stores
In a significant move to expand its global footprint, Asian fast-fashion powerhouse Shein announced on Wednesday that it will open its first permanent physical stores in France this November. The inaugural store will be located at the iconic BHV Marais department store in Paris, followed by five additional outlets in Galeries Lafayette stores across Dijon, Reims, Grenoble, Angers, and Limoges. This expansion is facilitated through a strategic partnership with Societe des Grands Magasins (SGM), the retail property group that owns BHV Marais and several Galeries Lafayette locations. Shein emphasized that this initiative aims to rejuvenate French city centers, revitalize department stores, and create 200 direct and indirect jobs in the country. While Shein has previously experimented with temporary pop-up shops in cities like Paris, this marks its first foray into permanent physical retail. Donald Tang, Shein’s executive chairman, highlighted France’s status as a global fashion capital and its creative spirit as key reasons for choosing the country for this venture. Founded in China and now headquartered in Singapore, Shein has built its empire on affordable fashion, extensive product offerings, and aggressive marketing. However, the company faces growing scrutiny over its environmental practices, labor conditions, and alleged exploitation of EU customs exemptions. Despite these challenges, Shein continues to expand, employing 16,000 people globally and generating $23 billion in revenue in 2022.
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SMEs gain bold insights at CEO luncheon
KINGSTON, Jamaica—Small and medium-sized enterprise (SME) operators in Jamaica are being encouraged to adopt a global perspective and implement strategies to enhance their competitiveness on the international stage. This advice was delivered by industry leaders Michelle Chong, CEO of Honey Bun, and Robert Scott, CEO of Lifespan Distributor, during the Honey Bun Foundation’s CEO Luncheon at the Terra Nova All-Suite Hotel. The event highlighted the importance of thinking beyond local markets and exploring opportunities for export and collaboration, regardless of the industry. Both CEOs emphasized the need for SMEs to adopt a mindset akin to that of larger corporations, focusing on scalability and operational excellence. Scott particularly stressed the value of strategic networking, urging attendees to move beyond merely collecting contacts and instead focus on building meaningful relationships and exchanging services. He highlighted the underutilized potential of bartering, which can be mutually beneficial for businesses. Chong reinforced the idea of thinking big, encouraging SMEs to adopt a franchise mindset, which involves creating standardized operating procedures (SOPs) to transition from business owners to quality control managers. Integrity and reputation were also underscored as critical components for success, especially in a small, interconnected market like Jamaica.
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Bartlett heads to London for Jamaica Travel Market 2025
KINGSTON, Jamaica—In a strategic move to bolster Jamaica’s tourism sector, Minister of Tourism Edmund Bartlett embarked on a global tour, commencing with his departure for London, England, on Tuesday. His itinerary includes pivotal engagements at the Jamaica Travel Market 2025, scheduled from October 1–3, 2025. This premier trade event, orchestrated by the Jamaica Tourist Board (JTB), aims to foster business connections between Jamaican tourism providers and international buyers, driving investment and growth in the island’s thriving tourism industry.
Minister Bartlett emphasized the significance of the UK market, stating, ‘The UK remains one of our strongest source markets. The Jamaica Travel Market provides a platform to reinforce partnerships, highlight the resilience of our tourism sector, and ensure Jamaica remains a top destination for travelers.’
In London, Bartlett’s packed agenda includes back-to-back business-to-business (B2B) meetings with key stakeholders on October 2, followed by a networking luncheon. He will also hold discussions with Jules Ugo, CEO of W Communications, Jamaica’s UK-based PR agency. A major highlight of his visit will be a strategic meeting with the TUI Group, where he will engage with Phillip Iveson, Director of Accommodation Product & Sourcing, and Jill Thompson, Head of Product & Ancillaries, to explore growth opportunities in the UK and broader European markets. The day will conclude with a cocktail reception and the prestigious Platinum Celebration Awards Dinner.
On October 3, the minister will continue his B2B meetings, receive an update on Jamaica’s tourism outlook, and attend a Jamaican barbecue luncheon before departing the event.
Following his London engagements, Bartlett will travel to Toronto, Canada, on October 5, to attend the JTB’s Edith Baxter Memorial Awards Gala and conduct critical media engagements. ‘The Canadian market is vital for us. My discussions will focus on expanding airlift and positioning Jamaica as the preferred destination for Canadian visitors,’ he remarked.
The final leg of his tour will take him to New York on October 10 for the American Friends of Jamaica’s (AFJ) Hummingbird Gala at The Plaza Hotel. The event will honor two distinguished Jamaicans: Jason Henzell, founder of BREDS Foundation and chairman of Jakes Hotel, who will receive the International Humanitarian Award, and Josef “Joe” Bogdanovich, founder and CEO of DownSound Entertainment Limited, who will be awarded the International Achievement Award.
‘It will be a proud moment to celebrate the remarkable contributions of these individuals to tourism, entertainment, and community development,’ Bartlett said. The minister is expected to return to Jamaica on October 12, concluding his extensive global mission.
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TJH makes partial pref share redemption
TransJamaican Highway Limited (TJH) has commenced the partial redemption of its cumulative redeemable preference shares as part of its strategic growth initiatives. The company recently redeemed 5% of the principal amount of its 2.7 billion preference shares, equivalent to 135 million shares or US$1.35 million, based on a US$0.01 par value. This redemption, executed on July 14, coincided with the quarterly dividend payment. TJH’s preference shares offer an 8.0% dividend yield. The Jamaica Central Securities Depository (JCSD) facilitated the redemption process, ensuring pro-rata distribution among shareholders. Despite receiving a query, TJH reported no objections to the transaction. The company has since aligned its redemption schedule with the original terms, adjusting the maximum optional redemption amount to 15% by January 30, 2026, with quarterly redemptions tied to dividend payments. TJH initially issued these preference shares in January 2020, raising US$27 million. The shares, listed at $1.41 in September 2020, are set to mature by January 2028. TJH retains the right to redeem up to 20% of the shares after the sixth anniversary of issuance. The company’s Q2 2024 report highlighted a carrying value of US$23.88 million for the preference shares, with US$22.26 million classified as non-current. Early redemptions free up cash for ordinary shareholders, with TJH announcing a $0.1292 dividend totaling $1.62 billion, payable on October 24. This marks a 35% increase from 2024, reflecting TJH’s robust financial performance. Additionally, TJH updated its dividend payment structure to accommodate USD shareholders. The company is set to launch Phase 1C of Highway 2000 East-West in October, projected to generate US$9.5 million in revenue. TJH’s 2024 revenue reached US$82.82 million, driven by increased toll volumes, with net profit rising 28% to US$17.78 million. The company also adjusted toll rates and streamlined T-Tag acquisition processes, enhancing customer convenience. TJH’s asset base stood at US$295.44 million, with total equity closing at US$72.99 million. Despite a 13% decline in JMD share price, TJH remains focused on its expansion and operational efficiency.