President Bharrat Jagdeo toured a $400M five-storey complex at Charity, Essequibo Coast during a weekend visit to Region Two while lauding the recent upsurge in private sector investment countrywide.
According to a Government Information Agency (GINA) press release the newly built complex houses a shopping mall, fast food outlet, pharmacy and other departments. It is also the site in Guyana of Canadian ‘Dixie Lee’ chicken and seafood. At the start of the project, proprietor Alfro Alphonso had said that it would create employment for 100 persons.
GINA said Guyana has seen a spurt in private sector driven investments in recent years. The president is also on record saying that private sector development is critical to the economy and that the onus rests with government to create the environment that would encourage investment.
“…We need to develop a local entrepreneurial class but also to be open to foreign investments. We will continue working and building on these reforms to ensure that environment is created because it’s an important part of our development strategy,” Jagdeo said.
There have also been a number of major businesses being erected and several are already in operation in Georgetown. In 2008, the Regent Multiplex, a new multi-million dollar shopping mall was commissioned. The following year, Roti Hut, Rituals Coffee House and Nestle Ice Cream were opened at Cheddi Jagan International Airport; bringing into reality a $100M investment. The same year saw the grand opening of the multi-million dollar Princess Casino located at the ground floor of the Princess Hotel, Providence, East Bank Demerara.
Also, in Linden, proprietor Dunston Barrow is investing in a $150M mall considered among the largest investments in the mining town. GINA said too within three years Guyana will be home to the first Marriott Hotel in the Caribbean and Latin America with Leadership in Energy and Environmental Design certification from the United States Green Building Council. Marriott International Inc. announced its readiness to open the hotel which will boast 160 rooms and will operate under a management agreement with Atlantic Hotel Inc. which is currently owned by the Guyana Government as part of public-private partnership between government and private sector investors.
