The Caribbean nation of Antigua is celebrating the groundbreaking of the Yida International Investment Group’s new Antigua Special Economic Zone.

In June 2014, within hours of taking office, the administration of new Prime Minister Gaston Browne announced it had inked a memorandum of understanding with Yida to construct a $740m mixed-use tourism project. The Chinese firm says its project will include a casino, two five-star hotels, 1,300 residential units, a golf course, conference center, marina and other amenities.

In a speech to commemorate the event, Minister of Tourism, Investment and Energy Asot Michael said the project would “lead to the creation of an economic tiger that will be the powerhouse of the region and transform the destiny of our country.”

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