Guyanese at home and abroad have invested some US$600M in projects in the past year according to official National Industrial and Commercial Investments Limited (NICIL).
“There are more and more Guyanese living in Guyana and abroad who have expressed interest in doing business here and with the increased interests being shown by foreigners, more Guyanese are seeking to be part of what Guyana has to offer presently,” acting Chief Executive Officer (CEO), Colvin Heath-London disclosed in an interview Saturday.
He said the government’s holding company has approved 13 projects put forward by Guyanese in the past year which will create some 3,800 temporary and 1,400 permanent jobs in the construction, hospitality, health and other sectors.
“This is the level of development that will certainly push a country forward positively and as such, create jobs among other numerous benefits for the citizens,” Heath- London said.
He said “Guyanese at home and abroad have recognized that a number of foreigners are continuing to show significant interest in this country and like any intelligent businessman and woman, they firmly believe that they too can play an important role.”
Heath-London believes that the recent flood of investment interest in Guyana is “just the tip” of the proverbial iceberg. Navigant Builders Inc., the company behind the Windsor Estate Developers is plugging a further US$83M into fresh projects in Guyana. In addition, another local project, the CORUM Group is throwing US$20M into their scheme which involves a 150 room Holiday Inn Hotel, Retail Development, office Building and a Mall Outlet.
W&T George and Company Ltd is pursuing a US$50M initiative on a 20 acre plot which includes building townhouses, upscale single-family units and shopping mall, creating a community of wellness.
Heath-London said too that a team of local doctors is behind a US$20M plan under the name Cardiology Services Inc. to provide a state-of-the-art health care facility for cardiology and neurology patients with supporting services.
Ava Management and Consultancy Services will plug US$15.2M into a hotel and residential town houses; Adamantium Holdings will build four-apartment condominiums to the tune of some US$20M. Premier Sales and Services and Elysium Investment will also invest a similar amount, the former to build a two-storey stacked townhouses and mid-rise condominiums while the latter would be constructing a total of seven high-end condominiums over the next five years at Ogle on the East Coast corridor.
“These are just some of the major projects that will be executed during 2020,” Heath-London said.