Government will back every single Guyanese investor – President Ali

His Excellency Dr Irfaan Ali, earlier today, said that the Government will back every single Guyanese investor in order to create the necessary transformation of the country. 

The Head of State made these remarks at the Sod Turning Ceremony of the new Aiden Hotel that will be built on Robb and Oronoque streets in the Capital City.

The Boutique style hotel is being developed by local company Arimu Investments Inc., and will be constructed by another local company, Build Smart Construction and Supplies Incorporated.

President Ali emphasised the importance of collaboration between the Government and private sector.

“I often speak about family-owned businesses in Guyana, and I made the very important point that for us to truly realise the opportunities that lie ahead, we have to do two things: understand that we can’t do it alone, and understand that we can only do it by coming together.”

He stressed that there is a need to break down barriers within businesses, which will call for new ways of thinking in the private sector in relation to making use of opportunities that will come along the way.

The Head of State had previously highlighted the importance of local businesses forming themselves into consortiums to ensure that they are better able to market themselves on an international level; today, he again repeated that call.  

“One of the things we are working on right now is to bring together various consortiums to ensure 100% of the forward and backward linkage of the oil and gas sector comes here, whether its health services, whether its tourism services, hospitality services, whatever it is, we have to build the capacity and we have to start now.”

President Ali pointed to need to form consortiums to create necessary local linkages, particularly in the agriculture sector.

“We must not import the grains to make the feed; we must grow the grains to make the feed too, and in every single sphere of development, you can be guaranteed the Government will be backing you; the government will be backing every single Guyanese.”

To achieve these necessary changes, the President said that the Government intends to play its part in creating an enabling environment.

“We have a responsibility to ensure the investment climate is secure; investors are protected. We have an obligation to the investors to ensure that our policies and incentives give them a good opportunity to have a fair return on their investment…. Then we have to create the conducive environment which is quite different from any other environment.”

The President added that a conducive environment also includes the elimination of red-tapes and the inclusion of a Single Window Approval System.

“No modern society can operate with an approval system of one year and two years and three years; it has to change, and it has to change quickly in response to the development agenda of our country.”

The Head of State charged local investors to bring opportunities to our shore, which would not just enhance the country but will create meaningful employment for Guyanese workers.

Aiden Hotel will cost US$15M to construct and is expected to be completed within 18 months.

The 74,000 square feet building will comprise of nine storeys and will have 101 executive rooms, including an executive bar and lounge, executive conference rooms, private dining rooms, a state-of-the-art gym and an English restaurant and bar.

Minister of Tourism, Industry and Commerce, Honourable Oneidge Walrond and Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Peter Ramsaroop also gave brief remarks.