$9B hotel investment to create over 800 jobs at Liliendaal
Over 800 jobs will be made available to persons living along the East Coast of Demerara, with the construction of an approximately $9 billion (US45 million) hotel investment by Pasha Global and Blue Bridge Inc.
President, Dr. Mohamed Irfaan Ali, who attended the ground breaking ceremony at Liliendaal, Greater Georgetown, on Monday, lauded the investors’ move, stating that it will add to the transformational journey his administration has started for the nation.
“It’s not just about delivering sand on the site. It is a multiplier effect that we have to understand, and it is that multiplier effect that ignites the economy, create demand,” the Head of State emphasised.
“Once demand is created, jobs are created. Once jobs are created, more money is available, [once] more money is available, there is greater need for goods and services,” he added.
In addition to the 800 jobs that will be created, another 500 persons are going to gain employment indirectly as a result of this investment.
Dr Ali said, “Just imagine the type of demand this will create in our economy in the next two to three years. I’m not even going into government infrastructure. Let us stick to just what we are doing this week, and understand the scale, the magnitude, the demand on labour, the demand for machinery, the demand and maintenance personnel like mechanics, the demand for fuel or for the government, the demand for greater infrastructure.”
Dr. Ali believes that the explosion of construction projects nationwide, is positioning the country on the right developmental route.
He explained that the first phase of the project will see 150 rooms completed by the end of 2024, while the second phase will have another 350 to 500 rooms being established in 2025.
The Head of State said Guyana must be able to build the infrastructure to support the hotels, not only from a corporate perspective, but from a broad platform that will support these major investments.
“From the human resource perspective, we’re already training…our aim is to train 6000 persons in the hospitality industry, so by the time these hotels are ready to open their doors in two to three years down the road, we will have 6000 persons ready to take up these jobs,” the Head of State added.
He outlined government’s plans to invest heavily in tourism, while noting that with the upcoming reduced cost of energy, the manufacturing sector is going to boom in Guyana.
“Whether it’s agro-processing, packaging, value-added to raw materials, (these) are all things that create demand…and a big part of the demand that they create is demand for rooms and accommodation,” Dr. Ali pointed out.
He said with the industrial development, and expansion set to take place locally, there must be accommodation for consultants, foreigners, business associates, and international investors.
“We are also working on creating the right policy framework and legislative framework to make Guyana a destination of choice for financial services…the first thing we have to do is create the foundation. We have to have the legal framework, the institutional framework to support this transformation,” the Head of State added.
Already, Guyana has seen massive investment, and the beginning of a number of construction projects, which will further spur the nation’s tourism and hospitality sectors.
The boutique-style Aden hotel is under construction and is expected to have over 100 rooms, while construction of the 150-room Airport Marriott, Timehri has begun.
The new Sleep Inn at Brickdam is under construction with some 195 rooms. Additionally, the new Pegasus will be launched soon with 100 new rooms.
Later this week, a ground breaking ceremony will be held for the construction of the AC Marriott Hotel, at Ogle, which will bring about another 150 rooms.
Meanwhile, Minister of Tourism, Industry, and Commerce, Oneidge Walrond said the move by the group to invest locally, is a clear response to the confidence it has in the government, which possesses great vision for the hospitality sector.
The minister noted that there is no place better to do business than Guyana.
“The tourism sector is a strategic sector for government or the country. We believe that the tourism (sector) in Guyana is particularly poised to be on an upward trajectory, and our vision is for it to be the premier destination for events for eco-tourism, sports tourism, and all the other niche tourism events,” Minister Walrond relayed.
Go-Invest’s Chief Executive Officer (CEO), Peter Ramsaroop said investments, in infrastructure like the Blue Bridge Hotel Inc, are important now, specifically since the nation is witnessing a huge revolution in all sectors.“The transformation is happening in front of our eyes. This is one more indicator of what Guyana is today, and what the future holds for tomorrow,” said Ramsaroop.