Carib Scope

分类： business

  • Parliament passes Special Economic Zone Amendment Bill as attorney general warns Antigua ‘must not be left behind’

    Parliament passes Special Economic Zone Amendment Bill as attorney general warns Antigua ‘must not be left behind’

    In a strategic move to enhance its global economic competitiveness, Antigua and Barbuda’s Parliament has ratified the Special Economic Zone Amendment Bill 2026. Attorney General Sir Steadroy ‘Cutie’ Benjamin emphasized the legislation’s critical role in aligning the nation with contemporary investment realities while reinforcing international regulatory standards.

    The comprehensive amendments represent a significant overhaul of the original 2015 legislation, creating a more robust legal architecture for special economic zones. Benjamin articulated that the updated framework positions the dual-island nation to actively compete for foreign investment in an increasingly competitive global landscape. ‘This government, being proactive, examined the current geographical and economic context to cultivate an environment attractive to those seeking to establish operations within special economic zones,’ he stated during parliamentary proceedings.

    A cornerstone of the new legislation is its strengthened emphasis on financial transparency and regulatory compliance. The amendments mandate strict adherence to international protocols against money laundering, terrorist financing, and proliferation financing. All entities operating within these zones will be subject to Antigua and Barbuda’s domestic laws concerning financial regulation, corporate transparency, and law enforcement oversight.

    The revised framework introduces enhanced due diligence protocols requiring thorough verification of investor identities and fund sourcing. Benjamin stressed that these safeguards ensure the nation cannot be exploited for illicit financial activities. The legislation also formalizes licensing procedures, prohibiting zone operations until all regulatory conditions are fully satisfied, and establishes a structured approval mechanism for zone participants.

    Beyond regulatory enhancements, the government highlights the zones’ potential to drive economic diversification, stimulate exports, generate employment opportunities, and attract foreign capital. Benjamin affirmed that the legislation maintains complete governmental oversight while creating a balanced system that promotes both investment attractiveness and international compliance.

  • Antigua and Barbuda to welcome Windstar’s newest luxury yacht Star Seeker on inaugural call

    Antigua and Barbuda to welcome Windstar’s newest luxury yacht Star Seeker on inaugural call

    Antigua and Barbuda prepares to welcome Windstar Cruises’ premier luxury yacht Star Seeker this Sunday, marking a significant milestone in both the vessel’s inaugural Caribbean season and the destination’s luxury tourism strategy. The 224-guest, all-suite yacht will dock at 10 a.m., with officials planning a traditional plaque exchange ceremony to commemorate the occasion.

    Media representatives have been invited to document the event, with boarding arrangements scheduled for 9:30 a.m. subject to security approvals. This visit represents more than just another port call—it signifies Antigua’s growing prominence in the boutique cruise market and Windstar’s strategic expansion into intimate, destination-focused itineraries.

    Star Seeker, delivered to Windstar Cruises in December 2025, stands as the company’s first purpose-built vessel in its premium Star Class series. Following its transatlantic maiden voyage and christening ceremonies in early 2026, the yacht commenced its inaugural Caribbean season, featuring routes specifically designed to access smaller ports that larger cruise ships cannot reach.

    The luxury vessel accommodates guests across 112 meticulously designed suites, most offering private verandas or expansive floor-to-ceiling windows. With approximately 130 crew members ensuring premium service, the yacht boasts multiple dining venues, a comprehensive spa facility, generous open deck spaces, and an innovative watersports marina platform.

    Industry analysts from Leisure Group Travel identify Star Seeker as central to Windstar’s broader expansion strategy, which emphasizes culturally immersive experiences and access to exclusive destinations. This approach differentiates the company from mainstream cruise operators and caters to travelers seeking more personalized and authentic journeys.

    Antigua and Barbuda’s tourism authorities view this visit as a strategic opportunity to reinforce the nation’s position as a preferred destination for high-end cruise traffic. The event is expected to draw significant attention from maritime stakeholders and tourism professionals monitoring the growing boutique cruise segment.

  • Vier zakken mest per hectare voor rijstboeren na akkoord LVV en sector

    Vier zakken mest per hectare voor rijstboeren na akkoord LVV en sector

    The Surinamese agricultural sector has witnessed a significant development as Minister Mike Noersalim of Agriculture, Livestock, and Fisheries (LVV) and Hansraj Jagmohansingh, Chairman of the Nickerie Paddy Growers Association (VBPN), formalized an expanded support agreement for rice farmers. This agreement substantially increases fertilizer subsidies to address ongoing challenges in the rice industry.

    Under the new terms, rice farmers will now receive four bags of fertilizer per hectare distributed across three growing seasons, marking a substantial enhancement from previous arrangements. The decision comes as a response to financial pressures facing farmers who have received lower paddy prices than initially anticipated. While some processors have purchased paddy at prices ranging from SRD 500 to SRD 550 per unit, these rates have proven insufficient to cover production costs.

    Minister Noersalim emphasized the government’s commitment to supporting struggling farmers, stating, ‘Farmers are facing severe difficulties and financing challenges. The offered purchase price simply doesn’t allow them to cover their expenses completely.’ This recognition prompted renewed negotiations between stakeholders.

    The fertilizer agreement now forms an annex to the existing comprehensive 25-point action plan between LVV and VBPN, which addresses short, medium, and long-term solutions for sustainable development in the rice sector. Both parties expressed satisfaction with the outcome, with Minister Noersalim noting that ‘the farmers’ organization is content and I believe they are returning home satisfied.’

    VBPN Chairman Jagmohansingh confirmed this sentiment, stating, ‘I must say I am pleased and returning to my district with a positive outlook.’ He appreciated not only the material support but also the constructive dialogue with government officials, acknowledging that ‘the minister has a listening ear, I see the president has a listening ear.’

    Additional measures include a six-month interest freeze on loans for rice farmers, a move that William Waidoe, LVV’s Deputy Director for the Western Region, described as crucial for structural improvement in the sector. Waidoe clarified that despite the government’s limited influence on paddy pricing following market liberalization, LVV remains committed to supporting farmers through strategic interventions where possible, declaring the negotiations ‘a success nonetheless.’

  • ‘High-tech’ fishing: Fisheries agency plots digital, inclusive transformation

    ‘High-tech’ fishing: Fisheries agency plots digital, inclusive transformation

    Barbados is undertaking a groundbreaking modernization initiative to transform its centuries-old fishing sector into a technologically advanced, inclusive, and climate-resilient industry within the next decade. Under the leadership of Fisheries Director Dr. Shelly-Ann Cox, the ambitious strategy aims to increase the sector’s contribution to national GDP from 0.07% to 5% by 2034.

    Dr. Cox’s comprehensive five-pillar framework represents a paradigm shift from traditional fishing practices to a professionalized, data-driven industry. The strategy fundamentally reimagines fishing careers, moving them from low-esteem occupations to respected professions with opportunities in boat-building, marine mechanics, and advanced fish processing.

    The digital transformation component incorporates cutting-edge technologies including vessel-monitoring systems, electronic logbooks, and satellite imagery to enhance operational efficiency and enable evidence-based decision making. This technological overhaul is complemented by heritage preservation efforts that document traditional skills like net-knitting for integration into school curricula while recruiting younger boat captains to revitalize an aging workforce.

    Inclusion and climate resilience form critical pillars of the strategy, with specific focus on increasing female participation across all industry segments and developing adaptive responses to environmental challenges such as sargassum seaweed invasions. The modernization drive also includes comprehensive legislative reform to update the 1993 Fisheries Act, implementing improved “hook-to-cook” traceability standards that will enable access to premium export markets in the UK, Canada, and West Africa.

    The implementation has already shown tangible progress through initiatives like the Fishing Vessel Operations Level 3 course, which recently certified 22 individuals. International partnerships with Japan, the United Nations Development Programme, and local institutions including the TVET Council and Barbados Coast Guard have been instrumental in driving these capacity-building programs.

    However, the transformation faces significant challenges including an aging workforce demographic and natural resistance to change within the traditional industry. Hurricane Beryl, which struck 18 months into Dr. Cox’s tenure, served as a pivotal test of the sector’s resilience, forcing rapid adaptation with limited resources and increased reliance on private-sector partnerships.

    The Fisheries Division is addressing implementation challenges through participatory research approaches that directly involve fishers in scientific processes rather than imposing regulations top-down. This includes innovative programs such as tagging dolphin fish (mahi-mahi) and measuring reproductive organs in markets to verify sexual maturity scientifically.

    Future priorities include disaster-resilient vessel regulations mandating life rafts for all boats, particularly important given that Barbadian fishing vessels regularly operate up to 200 nautical miles offshore, with some record-breaking trips reaching 800 nautical miles. These safety enhancements will ensure vessels can withstand extreme conditions while delivering highest-quality seafood to both domestic consumers and international export markets.

  • Hotel occupancy “at full speed” in tourist poles of the Dominican Republic

    Hotel occupancy “at full speed” in tourist poles of the Dominican Republic

    The Dominican Republic’s tourism sector is posting far stronger than expected performance ahead of the Easter holiday period, with top resort destinations already hitting a near-90% hotel occupancy rate, according to the nation’s top tourism official.

    David Collado, Minister of Tourism, confirmed on Wednesday that leading leisure hubs including Punta Cana, Samaná, and Puerto Plata are all registering extremely high demand, with visitor volumes also climbing to emerging up-and-coming destination Miches as the country expands its tourism supply and diversifies its vacation offerings. Collado noted that the entire country has maintained near-full booking capacity through the month of April, with eastern coastal resorts completely sold out, and northern and Samaná-region properties also at full occupancy.

    In a notable bright spot for the global travel industry, Collado stressed that the Dominican Republic has recorded no widespread cancellations of either flights or hotel bookings, even amid ongoing tense geopolitical tensions that have put indirect pressure on national economies worldwide. While the sector remains vigilant and closely monitoring shifting global events, the current trajectory remains overwhelmingly positive.

    Juan Bancalari, president of the nation’s leading industry group the Association of Hotels and Tourism (Asonahores), echoed Collado’s optimistic assessment, pointing to a fundamental shift in the Dominican Republic’s tourism profile. The destination is no longer dependent on seasonal peak travel windows, he explained, instead maintaining steady, stable occupancy across all 12 months of the year. Even in the face of current global economic and political uncertainty, hotels across the country are reporting exceptionally high booking volumes, with numbers continuing to climb ahead of the upcoming Easter travel rush.

    Bancalari added that no meaningful cancellation impact has been recorded to date, with travel demand continuing to grow steadily. The robust performance of the country’s tourism sector, he emphasized, serves as a clear reflection of the strong and enduring confidence that international travelers hold in the Dominican Republic as a top vacation destination.

  • Goudsector moet inclusiever en duurzamer: vrouwen en jongeren centraal

    Goudsector moet inclusiever en duurzamer: vrouwen en jongeren centraal

    Suriname’s journey toward establishing an environmentally conscious and ethically responsible gold mining industry demands enhanced collaboration, public awareness, and the active participation of women and youth. This central message emerged from Friday’s Community Congress held in Torarica, which convened policymakers, industry experts, and community representatives to address the sector’s environmental impact and necessary reforms.

    The gathering highlighted that sustainable development within the gold industry can only be achieved through the inclusive engagement of all stakeholders—including the informal sector. According to Natural Resources authorities, behavioral transformation across the sector remains paramount. Participants emphasized the urgent need to transition toward eco-friendly mining practices that prioritize water conservation, public health, and community wellbeing.

    Congress discussions particularly underscored women’s pivotal role as change agents within mining communities and the broader sector. Meanwhile, youth were identified as essential contributors to building a resilient and future-ready gold industry. Through structured workshops and dialogue sessions, attendees collaborated to develop practical solutions and cooperative frameworks.

    These outcomes are expected to inform policy development and implementable strategies for responsible gold management. The congress ultimately demonstrated that reforming Suriname’s gold sector transcends technical adjustments—it represents a societal imperative where inclusivity and shared responsibility must take center stage in shaping the industry’s sustainable future.

  • Herrera Calls Fuel Tax Spike Unconscionable

    Herrera Calls Fuel Tax Spike Unconscionable

    Belize’s business community is raising alarm over what Senator Kevin Herrera characterizes as government profiteering from escalating global oil prices. During a recent Senate address, Herrera revealed that state fuel tax revenues have surged by approximately 66% per barrel compared to pre-conflict levels.

    The analysis presented to the Senate indicates that when global oil prices stood at $60 per barrel prior to recent international tensions, the government collected approximately $27 per barrel in taxes, representing a 45% tax rate. With current prices hovering around $100 per barrel, the government’s take has jumped to roughly $45 per barrel—translating to about $6 per gallon in taxation.

    Herrera, representing business interests in the Senate, emphasized the disproportionate burden falling on Belizean consumers and businesses. He argued that while global market fluctuations have driven base prices upward, the government’s fixed percentage-based taxation approach has created an unintended windfall for state coffers at the public’s expense.

    The Senator specifically called for immediate fiscal adjustments to alleviate the pressure on citizens, stating it would be ‘unconscionable’ for the administration to benefit from an international crisis without providing corresponding relief to taxpayers. This development occurs against the backdrop of ongoing Middle East conflicts that continue to destabilize global energy markets and drive price volatility.

    Industry analysts note that without government intervention, Belizean consumers face the prospect of continued price pressures at the pump, potentially affecting transportation costs, commodity prices, and overall economic productivity.

  • Punta Gorda Hosts Expo for Women Entrepreneurs

    Punta Gorda Hosts Expo for Women Entrepreneurs

    PUNTA GORDA, BELIZE – The coastal town of Punta Gorda is set to transform into a vibrant hub of female entrepreneurship this weekend as it hosts its second annual Women in Business Expo. Scheduled for March 28th at Central Park, the event will feature thirty-five accomplished businesswomen from across southern Belize showcasing their diverse range of products and services.

    The expo, a collaborative initiative by the Punta Gorda Town Council and its partner organizations, represents a strategic effort to strengthen women’s economic participation in the Toledo district. The day-long event provides a dynamic platform for female entrepreneurs to expand their commercial networks, engage directly with consumers, and access valuable resources for business growth.

    Town Councilor Indira Coleman emphasized the transformative potential of the initiative, stating: “Economic empowerment forms the cornerstone of our municipal strategy. We’re dedicated to eliminating barriers for women across key sectors including tourism, small business development, and diaspora relations. When you empower a woman in Toledo, you effectively uplift the entire district.”

    The exhibition will display exceptional Belizean craftsmanship and innovation, featuring products ranging from intricately handwoven hammocks by Ron Dai Handmade Harmony to the cultural preservation projects of Iseni. Kallij Pop, recipient of the Outstanding Young Woman Award and guest speaker at the event, highlighted its inspirational value: “This gathering demonstrates how women can build successful enterprises within our own communities. I anticipate sharing my journey to motivate other young women and girls.”

    The free-admission event runs from 8:00 AM to 5:00 PM, offering visitors an opportunity to support local female entrepreneurs driving economic development in southern Belize.

  • Canada zet in op vrijhandelsovereenkomst met Mercosur tegen herfst

    Canada zet in op vrijhandelsovereenkomst met Mercosur tegen herfst

    Canadian Trade Minister Maninder Sidhu has announced an accelerated timeline for finalizing a comprehensive free trade agreement with the South American Mercosur bloc, targeting completion by fall 2026. The revelation came during the sidelines of the World Trade Organization ministerial conference in Yaoundé, Cameroon, where Sidhu confirmed negotiations would now occur approximately every six weeks.

    Speaking from the Canadian High Commissioner’s residence in New Delhi, Sidhu expressed strong confidence in the negotiation pace, stating: “We are being very ambitious. I believe we can get this done.” The minister has already conducted bilateral discussions with Argentina and Paraguay, with scheduled meetings involving Brazil and Uruguay representatives later this week.

    Diplomatic sources close to the negotiations indicate a potential signing ceremony as early as September or October, marking approximately one year since formal talks resumed. A Brazilian diplomat confirmed the unprecedented speed and positive momentum, characterizing a 2026 agreement as highly probable.

    Canada’s push for diversified trade relationships comes amid ongoing uncertainties surrounding import tariffs imposed by the United States under the Trump administration. South America, particularly Brazil, represents an indispensable trading partner for Canada, making the Mercosur agreement a strategic priority for strengthening economic ties.

    Mercosur (Common Market of the South) comprises full members Argentina, Brazil, Paraguay, Uruguay, and Venezuela (currently suspended due to political and economic reasons). The bloc maintains associate memberships with Chile, Peru, Colombia, Ecuador, and Guyana, while Bolivia is progressing toward full membership status.

    The trade bloc facilitates free movement of goods, services, capital, and people among member states while establishing a common external tariff to regulate foreign trade. Internal trade within Mercosur accounts for substantial portions of member countries’ GDP, significantly driving economic growth and regional cooperation.

    This potential agreement with Canada represents Mercosur’s continued expansion of free trade agreements with external nations, aimed at market liberalization, export stimulation, and enhanced global competitiveness through technological exchange and collaborative economic development.

  • IICA initiates CDB-funded intervention for AgriMSE Business and Regional Market Integration

    IICA initiates CDB-funded intervention for AgriMSE Business and Regional Market Integration

    A landmark initiative to transform the agricultural landscape across five Caribbean nations was formally launched on March 11, 2026, through a virtual event hosted by the Inter-American Institute for Cooperation on Agriculture (IICA). The AgriMSE Business Development and Regional Market Integration Project, backed by Caribbean Development Bank (CDB) funding, aims to elevate the competitive edge, operational efficiency, and market penetration of Agricultural Micro and Small Enterprises (AgriMSEs) in Antigua and Barbuda, Dominica, Grenada, St. Lucia, and Trinidad and Tobago.

    Diana Francis, IICA’s Representative in Trinidad and Tobago, inaugurated the event by highlighting the pivotal role of AgriMSEs as engines for agricultural value chains, rural economic vitality, and food security. She stressed that successful integration of these enterprises into broader markets necessitates robust, sustained collaborations among regional institutions, development partners, the private sector, and consumers. Francis specifically pointed to the indispensable role that distribution, marketing, and logistics corporations will play in ensuring the seamless movement of goods across domestic, regional, and international markets.

    The project’s implementation strategy is structured around three specialized consultancy streams, which IICA will oversee to ensure cohesion and provide technical support. EconoTech Ltd. will lead efforts to enhance business and production efficiencies for market scaling; Jai Rampersad will spearhead intra-regional marketing and export facilitation; and GBest Consulting will focus on improving creditworthiness and financing access for AgriMSEs. This multi-pronged approach, developed in concert with national entities, is designed to boost enterprise performance, readiness for export, and access to capital.

    The launch also featured presentations on complementary initiatives financed by the European Union. Janet Lawrence, IICA’s Agricultural Health, Food Safety and Quality Specialist for the Caribbean, detailed the EU’s long-standing commitment to regional agricultural development, particularly in addressing sanitary and phytosanitary (SPS) standards and building capacity for over a decade. These EU-funded programs will work in tandem with the IICA-CDB project, offering additional resources to not only AgriMSEs but also to policymakers and institutions working to create a more favorable operational environment. Key focus areas include food safety, quality assurance, and regulatory frameworks—critical components for competing in global markets.

    Adding a significant private sector perspective, Patrick Antoine, CEO and Technical Director of the Caricom Private Sector Organisation (CPSO), addressed the audience. He advocated for enhanced collaboration between small agricultural enterprises and larger regional firms to tackle common challenges related to scale, logistics, and processing. Antoine announced the formation of a Regional Agribusiness Working Group by the CPSO, intended to perpetuate the project’s objectives beyond its formal timeline. This group will harness the expertise, networks, and technical capabilities of major enterprises to provide direct support to AgriMSEs, particularly in shared processing, logistics, and packaging.

    Antoine also revealed a major financial development: the African Export Import Bank (Afreximbank) has increased its investment commitment to the Caribbean from $3 billion to $5 billion, signaling vastly expanded financing opportunities. The Working Group will leverage such partnerships and utilize tools like the Regional AgriMSE Database, currently under development, to deliver targeted support and advance the Caricom 25 by 2025 plus 5 food security agenda.

    Scheduled for an 18–24 month duration, the project will engage AgriMSEs through diagnostic assessments, technical support programs, and market development initiatives. An AgriMSE participant present at the launch described the session as ‘inspiring’ and ‘purpose-driven,’ noting that it comprehensively addressed long-standing requests from the sector.

    Francis concluded by framing the initiative as more than a typical project. ‘Its overwhelming focus is ensuring that agri-food products from micro and small businesses meet the quality and price competitiveness required to establish a presence in domestic and export markets,’ she stated. The project also aims to fortify a foundation for ongoing, organized collaboration in support of AgriMSEs through the strategic IICA-CPSO partnership and other aligned entities.

    AgriMSEs interested in participating, including those who missed the launch, are encouraged to contact the project team at agrimse.tt@iica.int to be included in future communications.