GO-Invest targets $139.8B in investments

GINA, GUYANA, Tuesday, November 29, 2016

In 2017, the investment portfolio of the Guyana Office for Investment (GO-Invest) will be restructured to ensure greater diversification within the economy.  There will be additional focus on the tourism, agriculture, and light manufacturing sectors as the agency will target $139.8B in investments.

This was stated by Minister of Finance, Winston Jordan during the presentation of the $250B, 2017 National Budget, under the theme “Building a diversified, green economy; delivering the good life to all Guyanese’.

Minister Jordan said these ventures are estimated to create an additional 3,870 jobs, while on-going institutional strengthening will result in a more data driven, client-friendly, one-stop investment portal.  The investment agency operates under the purview of the Ministry of Business.

“To this end, our Government has allocated the sum of $213.2M for the continued strengthening of GO-Invest in the new year.”

The planned implementation of the Single Window Automated Processing System (SWAPS), which will enable information sharing between licencing bodies and the Customs and Trade Administration, will reduce red tape for new investors, as well as local businesses. This will commence after the successful installation of The Automated System for Customs Data- ASYCUDA,” Minister Jordan said.

For the year 2016, GO-Invest which is described as a key agency for advancing Guyana’s economic growth, received $26.5 M. 

 

By Gabreila Patram