Slow internet speeds in Antigua and Barbuda is part of a wider infrastructural problem that needs to be addressed, Canadian billionaire Calvin Ayre said Thursday.
The Canadian entrepreneur, based in Antigua and Barbuda, said his global headquarters in Antigua — a US$40 million building, which was opened last November — is only just the beginning of his development plans for the country.
“That internet problem, I would expand that and call it an infrastructural problem and it is exactly why I built my own building so that that goes away,” Ayre said on Observer Radio.
“Inside my building those issues are all gone because I have the correct international infrastructure.
“The country itself needs to put more effort into that and I hope to be a part of that as well, because I’m working on ramping up the real estate development that I do here, so I expect I’ll be putting more infrastructure in.”
Canada Place, a five-storey building located close to Woods Mall, is a modern green facility. It will be home to various pioneering technologies that, it is hoped, will make a significant impact on the economy of Antigua and Barbuda.
“I built a building here because I wanted to bring more technology companies into Antigua and there wasn’t the right infrastructure here to do it,” Ayre explained.
“My only regret is that I didn’t make it bigger because I can see right now that we’re going to have it filled very quickly.
“When you’re inside that building you could be in any major city anywhere in the world,” Ayre added.
Digital Assets Business Bill
Meanwhile, Ayre has welcomed the Digital Assets Business Bill now before parliament, saying it is going to legitimize the technology industry in Antigua.
The Digital Assets Business Bill will regulate the use of blockchain technology and outlines the legislative framework for how persons carrying out digital asset business will operate in Antigua and Barbuda. It also addresses the protection of the interests of clients or potential clients and gives provision to other matters connected and related to digital business.
“The reality is that because of the internet, and now bitcoin, Antigua does have something to offer, but it still has to legitimize itself,” Ayre said.
“If I want to come here and set up some type of digital assets business, then I’m going to need a licence from the government here … I need a licence to legitimize myself and Antigua needs a licence to legitimize itself in order for me to want to come here to do my business.”
Ayre said that’s exactly what the Digital Assets Business Bill will do.
When asked why he chose Antigua as the home-base for his business, Ayre’s answer was simple.
“The advantage Antigua has is the reason why I live here. It’s a nice place to live,” he said.
