Hubbard’s Motor, a key player in the Auto Division of Goddard Enterprises Limited (GEL), has officially announced the launch of the globally acclaimed GAC vehicle brand in Grenada. This strategic partnership brings together GAC’s award-winning designs, cutting-edge technology, and Hubbard’s Motor’s longstanding reputation for reliability and service excellence. GAC, ranked #181 on the 2024 Fortune Global 500 and recognized by J.D. Power as the #1 Quality Chinese Brand for eight consecutive years, sold over 2 million vehicles worldwide in 2024. With international collaborations including Honda, Toyota, and Mitsubishi, GAC is now poised to transform Grenada’s automotive landscape. The initial lineup features the Emkoo, a futuristic SUV; the GS3 Emzoom, awarded Highest Quality Compact SUV in China; and the AION EV Series, honored as China’s Highest Quality Electric Vehicles in 2024. Each vehicle undergoes rigorous durability testing, and customers in Grenada will benefit from extensive warranties, including 7 years/250,000 km coverage for the Emkoo and Emzoom, and 8 years/160,000 km for the AION EV Series. Osmond Henry, General Manager of Hubbard’s Motor, emphasized that GAC’s exceptional design, performance, and safety standards, combined with Hubbard’s trusted after-sales service, will redefine the driving experience in Grenada. Christopher Dowden, Manager of Hubbard’s Motor, highlighted that this launch is not just about introducing new vehicles but shaping the future of mobility on the island. This collaboration ensures Grenadian drivers have access to world-class automotive solutions that blend innovation, reliability, and local expertise.
分类： business
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More Americans are CBI-approved citizens of Grenada
The latest data from Grenada’s Investment Migration Agency (IMA), formerly known as the Citizenship by Investment (CBI) Unit, reveals a significant shift in the nationalities of new citizens approved under the program in 2025. In the second quarter, 12% of the 402 new CBI-approved citizens were US nationals, marking a notable increase from the first quarter, where only 1% of 632 approved citizens were from the United States. This surge positioned the US as the second-highest nationality, trailing behind China, which accounted for 10% of approvals, and surpassing Nigeria, which also represented 10%. This is the first time Nigeria has been displaced from its usual second-place ranking in the CBI program. Other nationalities approved during this period included Pakistan, the United Kingdom, the Philippines, and several African and Middle Eastern countries. As of the end of the second quarter, the program had approved 893 new citizens, generating EC$103.2 million in revenue, according to the Ministry of Finance’s June 2025 report. Thomas Anthony, CEO of the IMA, announced plans to expand the program’s marketing efforts in Africa, with a focus on West Africa. A team from the agency is set to tour the region in October 2025, building on recent engagements in Kenya, where over 100 individuals attended a promotional event in collaboration with the Nairobi Chamber of Commerce. Anthony emphasized Nigeria’s prominence in African applications and expressed optimism about extending the program’s reach to other African nations.
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New Abattoirs to Cut Antigua and Barbuda’s $175M Import Bill
In a strategic move to curb its hefty $175 million annual meat import bill, Antigua and Barbuda has announced plans to construct two new abattoirs and upgrade its existing facility. Agriculture Minister Anthony Smith Jr. revealed the initiative during an appearance on ABS Television’s ‘Government in Motion,’ emphasizing the government’s commitment to reducing reliance on imported livestock products. The new abattoirs will specialize in poultry and pork/small ruminants, while the current facility will be retrofitted for beef processing. Smith highlighted the unsustainable nature of importing EC$175 million worth of livestock products annually, stating that the investment aims to empower local farmers to meet domestic demand. The projects are part of a broader strategy to enhance food security, create new markets for local producers, and stimulate economic growth. The government is collaborating with stakeholders to provide farmers with access to financing, land, and technical training to maximize the benefits of the increased processing capacity. Additionally, the initiative is expected to generate employment opportunities and retain more revenue within the local economy. The abattoir projects, currently in the planning and procurement phase, are among several flagship initiatives the Ministry of Agriculture aims to complete by 2028. These include aquaculture training, a tissue culture lab for the Antigua Black pineapple, and expanded agro-processing facilities. This comprehensive approach underscores the government’s dedication to fostering agricultural self-sufficiency and economic resilience.
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Antigua and Barbuda seeks to consolidate its presence in the Argentine market
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.
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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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Opposition raises concern over ‘under-execution’ of capital budget
KINGSTON, Jamaica — Julian Robinson, the Opposition Spokesman on Finance, has raised significant concerns over Jamaica’s persistent under-execution of its capital budget, labeling it a chronic issue that threatens the nation’s economic growth. His comments were prompted by the latest report from the Independent Fiscal Commission (IFC), which revealed that only $20.1 billion of the allocated $40.5 billion was spent in the first quarter of the 2025/26 fiscal year. This follows a pattern of underspending, with $19 billion unspent in FY 2024/25 and a nearly $9 billion shortfall in FY 2023/24. Robinson criticized the government for failing to address inefficiencies and bottlenecks in the public procurement system, which he believes are hindering the implementation of vital projects. Drawing comparisons with the Dominican Republic, which has successfully executed a $12 billion National Infrastructure Investment Plan, Robinson highlighted the stark contrast in regional infrastructure development. He warned that Jamaica’s inability to execute its capital budget effectively is a ‘growth-constraining concern,’ particularly at a time when higher economic growth is essential for generating additional revenues. While the Bank of Jamaica forecasts a modest two to three per cent growth for the September quarter, Robinson cautioned that this is largely recovery growth following last year’s economic contraction due to Hurricane Beryl. He stressed the need for sustainable, long-term growth strategies, urging the government to reform procurement processes, accelerate project execution, and create conditions for sustained economic expansion. Failure to act decisively, he argued, will result in weaker-than-projected revenues and unmet promises to the Jamaican people.
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Gas prices up $0.75, $0.77, diesel up $2.94
Motorists across the region are set to experience a mixed bag of fuel price changes starting Thursday, October 2, as Petrojam, the national oil refinery, has released its latest ex-refinery cost updates. The adjustments reflect a combination of increases and decreases across various fuel types, signaling a dynamic shift in the energy market. Notably, 90-octane gasoline will see a rise of $0.75, bringing its price to $166.60 per litre. In contrast, 87-octane gasoline will experience a slight reduction of $0.77, settling at $159.55 per litre. Diesel fuels are also subject to significant hikes, with automotive diesel increasing by $2.94 to $170.41 per litre and ultra-low sulphur diesel (ULSD) rising by $3.06 to $176.79 per litre. Meanwhile, kerosene prices have dropped by $3.06, now available at $155.08 per litre. These changes are expected to impact both individual consumers and businesses reliant on fuel for operations, prompting a closer look at budgeting and energy consumption strategies.