The activities of Yida International Investment Group in Antigua and Barbuda are collectively known as the Yida Project. In 2014, PM Gaston Browne first vowed to transform Antigua and Barbuda into an “economic powerhouse” and then signed an agreement with Chinese investor Yida Zhang for USD 740m investments. Yida International Antigua Limited owns thousands of acres of land, located in the country’s largest marine conservation area.
Chinese investors have established their own Antigua and Barbuda Special Economic Zone (ABSEZ). Residents and businesses operating in the ABSEZ benefit from tax waivers. The official website of the project provides scans of the legal documents that have allowed this, including a special legal order signed by PM Gaston Browne.
It has been reported that some of developments will be given over to industrial sites, including steel and ceramic tile factories. This sparked environmental concerns, especially over the destruction of mangroves. Investors have denied these allegations and deliberately included small areas of preserved mangroves in their development plan.
As per the a document approved by the Antigua and Barbuda Development Control Authority, the ABSEZ includes:
- Antigua International Tourism Island (284.9 acre)
- Antigua International Finance Centre (8.0 acre)
- Antigua Investment Fund Centre
- Antigua Off-shore Settlement Centre
- Antigua Trust and Insurance Management Centre
- Antigua International Securities Exchange Centre
- Antigua Off-shore Duty-free Zone (12.0 acre)
- Antigua International Hospitality and Entertainment Zone (110.0 acre)
- Antigua Casino Development Zone
- Antigua International Corporate Headquarters Zone (75.0 acre)
- Antigua International Education and Research Zone (74.9 acre)
- Antigua International Healthcare, Recovery and Habilitation Zone (5.22 acre)
- Sino-Antiguan International Free Trade Zone (1124.5 acre)
- Antigua International Bonded Warehousing Zone (65.0 acre)
- Antigua Trading, Logistics and Wholesale Centre (25.0 acre)
- Antigua Comprehensive Industrial Park Zone (1034.5 acre)
- Antigua Aviation Economic Development Zone
- Antigua Ports and Transportation Hub
- Guiana Island Master Plan (470 acre), including a floating bridge connecting the island to the mainland, 2 artificial beaches, preserved mangroves, a 6-star hotel, beach villas and one natural beach.
- Crump Island Master Plan (52.0 acre), including a 7-star hotel, beach villas and cliff villas.
- Harbor and Maiden Island Master Plan (1.8 acre), including a guest club house
- Maiden Island Area (18.6 acre) where a residential community will be established.
- Rabbit Island (5.0 acre) where a residential community will be established.
China-Antigua and Barbuda Relations: Key Events (Timeline)
1981: On 1 November, Antigua and Barbuda is granted independence from the United Kingdom.
1983: China establishes diplomatic relations with Antigua and Barbuda.
2014: PM Gaston Browne vowed to transform Antigua and Barbuda into an “economic powerhouse”. He announced that St. John’s Port (Antigua) would be completely rebuilt with a $255 million investment from China. He also welcomed Chinese investor Yida Zhang to and agreed on the Yida Project which includes various industrial developments.
2015: The Antigua Port Authority signed a financing agreement with China Civil Engineering Construction Corporation (CCECC) to begin maintenance dredging of St John’s harbor.
2017: Hurricane Irma devastated Antigua and Barbuda, destroying approximately 90% of properties on the island of Barbuda. The Chinese government as well as Chinese investors offered considerable financial assistance to the country. Private investments dwarfed state aid. Some of the new projects being developed have sparked concerns over the environmental impact of Chinese investment.
2018: In January, PM Gaston Browne invited the China Civil Engineering Construction Corporation to invest more with the Government and suggested that CCECC creates its regional headquarters in the country. In June, Antigua and Barbuda became the first country in the eastern Caribbean to sign up for China’s Belt and Road initiative.
2020: The US urged Caribbean countries not to accept gifts from China, with Mike Pompeo personally delivering this message. However, Instead of offering financial assistance to the economically challenged Antigua and Barbuda, the US is threatened to withhold assistance to its Defence Force over an unpaid loan. In April residents of Antigua reported that the Yida Project continues. In July, Antigua and Barbuda backed the new Hong Kong national security law in the UN. In October, Information Minister Melford Nicholas characterized China as an “important partner” for the twin island nation.
