Antigua and Barbuda Government to Support Social Security Scheme Through Strategic Investment in Jolly Beach Resort
As part of this initiative, the Government will inject $75 million into the Scheme, which will be directed toward transforming the Jolly Beach property into a 500-room resort.
This new policy is designed to diversify and enhance the investment portfolio of the Social Security Scheme, allowing it to generate sustainable revenue through both contributions and income-yielding investments.
To facilitate this transformation, the Government will introduce amendments to the Social Security Act, enabling the Scheme to restructure and actively participate in commercial ventures.
The Cabinet has emphasized that the Jolly Beach Resort holds strategic significance for Antigua and Barbuda’s tourism sector.
This policy will ensure the property’s full refurbishment, expansion, and long-term profitability, reinforcing its role as a key contributor to the national economy.
