The thousands who attended last evening’s opening of the second International Building Expo were told by President Bharrat Jagdeo that it was a vehicle for realising the dreams of families to own a home.
One hundred and twenty-five booths, 15 of which are foreign, will be part of the exposition which will conclude on Sunday. It is being held at the Providence Stadium, East Bank Demerara.
Delivering the feature address, Jagdeo said that it is the vision of his party to build dreams, regardless of a person’s religious or political background.
“It is not just about creating wealth at the national level. For us we believe that people are richer if they have the opportunity to live in their own home. In a decent place, to raise their families in shelter that is decent,” he said, adding that the country for a long time never focused on providing that basic necessity.
He stressed that other citizens including cleaners, security guards and waitresses now have the opportunity to own there own home and just like the last expo, they will be visiting booths and finding out what their options are.
“I saw them the last time, entire families coming here to see how they can advance their life. This is what this is all about”, he said amidst applause from the crowd.
He said that having a stake in the country through adequate access to health and proper education, is the beginning of the accumulation process. “We want to start at the family, the building of wealth at the level of each family”, he said.
He said that the hard work of Housing Minister Irfaan Ali has ensured that promises to the people have been kept.
“We are helping to realise people’s dreams. We are helping to give children a decent place to grow up. That is what we are working on”, Jagdeo said.
The President noted that national prosperity can only be enhanced through connectivity and building bridges. He said that the government is open to building those bridges and “that is why we welcome all the investors from abroad who are here. Our country is open for business and we have a clear vision”.
He expressed pleasure at the presence of Trinidad’s Minister of Trade Stephen Cadiz who is heading a 65-member delegation. Jagdeo said that even as we open up our country to opportunities, there are vast unexplored opportunities of trade and investment.
“We know the Caribbean market, we know the cultures there, we have transnational businesses that operate across our country and the disposable income is fairly high compared to other regions of the world”, he said, adding if the region prospers, Guyana will have greater opportunities.
He said that it is not about a competition between Guyana and Trinidad but rather it is about partnership. Speaking directly to the Trinidadian delegation, Jagdeo said that over the next few days the two countries will have a chance to speak of the many opportunities that exist here. He stressed that business persons from both countries can do well if they explore those opportunities together.
Meanwhile, Ali told the gathering that it was the exhibitors who worked hard to ensure that the dream of a modern Guyana came through. He said that “we must now push this Guyana together”.
He said that he envisioned that in the near future the entire Caribbean would be one.
Ali said the country has come a far way and this is evident in the theme of the Expo, “Bridging the gap-transforming Guyana”. He said that there were gaps in the economy when the inflation figure was triple digits, between us and neighbouring Brazil, between Region Five and Six and many more that still need to be bridged.
“I believe that the foundation has been laid and I believe that we have the genuine leadership to ensure that this progress is continued”, he stressed.
Minister Ali said that since 2006, the Ministry has regularised more that 170 informal schemes and distributed more that 17,000 house lots. He said the credit deposit ratio is approximately 40% while in most developing countries that ratio is 70-75%. He added that in the Caribbean it is about 55%. “Our system is strong and solid”, he stressed.
Over the last year he said, the Ministry had 2,225 building plans approved. They have also presided over an investment of more that $9.5 billion in the construction centre. Lending, he added, since the last expo grew by 24%.
According to Chairman of the Private Sector Commission Ramesh Dookhoo the size and the scope of the expo have expanded since the last one. He said that millions have been spent at this year’s expo.
Cadiz said that the success of the expo lies in the strategic and other alliances with partners in the Caribbean and beyond. He said that the current economic environment requires an enabling environment for business to develop and flourish. He said that the efforts made by Caribbean governments to build a relationship with the private sector to provide more opportunities for home ownership, construction and trade show a responsiveness to the needs of the people.
He said that efforts are being made to have his country’s economy more accessible to Guyana. He also said that they are also committed to improving trade relations and to build on trade opportunities including in the agricultural sector.
He added that Trinidad is eager to seek joint ventures with Guyana in the construction sector.
