Veteran Antigua & Barbuda diplomat, Colin Murdoch, is well versed in extolling the virtues of his native land. Before becoming Senior Advisor to Prime Minister Gaston Browne and Chairman of the Citizenship by Investment Unit (CIU), he served as Ambassador to Cuba, Permanent Representative to the World Trade Organisation, Ambassador to the Organisation of Eastern Caribbean States, and Permanent Secretary in the Ministry of Foreign Affairs. On the tail of the most successful year in the CIU’s history, we spoke to him about the programme’s aspirations in 2019.
The interview first appeared in the Antigua and Barbuda The Citizen magazine of April 2019 edition
What makes this nation unique?
Its great location, beautiful landscape and seascape, and its relaxed tourism product. We have a good mix of everything – people, culture, cuisine, music and a varied tourism profile.
What do you miss when you are on one of your official missions abroad?
I miss the beach and swimming in the ocean. We have so many quiet secluded beautiful beaches, but my favourite is Fort James Beach at Dickenson Bay. I’m a bit of a beach baby and go every weekend, spending hours. It’s a wonderful relaxing activity.
What do you want people to know about Antigua & Barbuda?
Firstly, to be able to locate us geographically. I would like people to understand our history and the factors that have given us the kind of economy and society we have today. Most of all, I want people to know about
our strong points; an open democratic political system, the rule of law, a very low crime rate, sound economic growth that’s one of the best in the region, a great cultural life, and so many other features.
What is your personal favourite local tradition?
My favourite time of year is Christmas and it’s a time associated with family and community, when people gather together to go around their neighbourhood singing Christmas carols and visiting friends and family. It’s also a time when many Antiguans who are resident abroad return home and join in all the traditional tropical Christmas activities.
Why was the creation of the Citizenship by Investment Program (CIP) important for the nation?
CIP is critical to our path to economic development and represents a significant chunk of government revenue. Over 100 countries have some form of residence or citizenship-by-investment programme, so it is an accepted path to economic growth and development through sovereign equity rather than sovereign debt.
Which of the CIP benefits are most important to you?
The societal benefits from our CIP are significant, and it’s difficult to think of how further back we’d be without it. The two best examples of the benefits of our CIP revenue stream are: (i) CIP revenues pay Social Security pensions in Antigua & Barbuda and (ii) CIP revenues are used to pay down debt which has eased the fiscal squeeze and has even brought down our debt-to-GDP ratio significantly.
What is your assessment on the proposed Citizenship Tax on every Caribbean CBI?
Any tax on CBI will have to be analysed very closely. One does not want to kill the goose that lays the golden egg. While we accept that all economic actors must pay their fair share, we have to recall that we are in a competitive business worldwide and we would not wish to place Caribbean CBIs at a disadvantage in relation to their competitors.
After an excellent 2018, what would you like to achieve in 2019?
We would like to become the premier CIP destination in the Caribbean, with a superior product as well as the most efficient processing unit with low processing times. We intend to streamline our application and processing procedures as well as focus more on the CIP projects, ensuring that we develop world-class property investments that add real value to our economy.
How does Antigua & Barbuda stand out from other Caribbean nations?
Our CIP products and investments are world class and our due diligence especially so. Anyone who seeks a secure second citizenship that enjoys full confidence internationally should be looking at Antigua & Barbuda. The key thing to remember is that investing here means you can be confident of investing in the fastest growing economy in the Caribbean.
What role would you like to see Antigua & Barbuda play in the world arena?
Antigua & Barbuda seeks to be an innovative economy that adapts well to the international arena, with tourism and services as drivers. The Government of Antigua & Barbuda will raise its voice at the UN and other world bodies on matters that affect our national well-being, including climate change, fair trade and other issues that particularly affect small states. Although we are small, we should not be afraid to speak up and to demand that our interests be considered.
And finally, a word of wisdom, your motto or your belief… I believe in excellence in all things, in doing one’s best and always being consistent. Apart from that, I’m a follower of Saint Paul, who said: ‘Whether I am in want or whether I abound, I am content.’
Source/Credit: The Citizen
