$193M unlocked for further development of business incubators

– supplementary funding approved in National Assembly

DPI, Guyana, Wednesday, October 31, 2018

The Ministry of Business will now be able to access supplementary funding to the tune of $193M to facilitate payments under the Lethem and Belvedere Industrial Development projects.

This follows approval tonight by the National Assembly. Minister of Business, Dominic Gaskin defending the request assured that the total amount will be spent before the year’s end.

The supplementary amount, Minister Gaskin noted is based on the significant advancement of infrastructural works and the need for an additional access road to the Business Incubator at Lethem.

This will improve access for tenants particularly to move materials.

The Lethem Estate consists of four plots for large businesses to operate and support smaller entities that will occupy the facilities. Upon completion, the Guyana Office for Investment (GO-Invest) will promote the estate to local, Brazilian and foreign investors.

Minister Gaskin had explained the incubators are aimed at assisting persons to reach the point of being established enough to venture out on their own. They will be furnished with the necessary equipment required by businesses.

Stacy Carmichael.

Image by Keno George.