Guyana open to private investment from the Dominican Republic – Minister Edghill
The government on Thursday urged private sector businesses and individuals in the Dominican Republic to make tangible investments in Guyana’s booming economy as there are countless opportunities available here.
Minister of Public Works, Bishop Juan Edghill made the appeal during a private sector engagement between the two countries at the Arthur Chung Conference Centre (ACCC), Liliendaal.
Minister Edghill called on the private businesses to also explore the lucrative opportunities in Guyana’s infrastructure sector and other prominent industries.
The discussion, which also saw the presence of the DR President, H.E. Luis Abinader was geared at exploring various investment avenues available in infrastructure, tourism, manufacturing, natural resources, and agriculture.
“There is a possibility of close to US $2 billion worth of infrastructural projects that are available for discussion and engagement to see how we can advance Guyana’s modernisation and transformation,” Minister Edghill emphasised.
He highlighted that one significant aspect of development is the hemispheric integration and transformation, which involves the construction of the Corentyne River bridge linking Guyana to Suriname.
That project is a direct engagement between Guyana and Suriname and is currently at the stage of receiving financial proposals from prequalified contractors.
Similarly, the Linden to Lethem Road will provide access to Brazil and create new areas of opportunity for trade and connectivity to the entire South American continent.
Minister Edghill stated that the second phase of the Linden/Lethem project is valued at some $550 million, which will see 329 kilometres of road from Mabura being constructed.
Additionally, he pointed out several ongoing and potential projects of internal integration for economic advancement including the improvement of the country’s ports and expansion of the aviation sector.
Another area of opportunity lies in the development of a deep-water harbour in Berbice, and the possibility of a railroad or suitable alignment along the road to Lethem is being considered to enhance transportation efficiency.
The expansion of the Demerara Port and the ongoing construction of the new Demerara River Bridge will further support the growth of the port and accommodate larger vessels, thereby facilitating increased trade and servicing the expanding oil and gas industry.
“So those of you who are interested in construction there are a number of opportunities that are already financed and will be going out publicly for advertising.
“And, if you want to participate in the bidding process to bring some of your technology to Guyana, we have a representative in the country, who will be able to track some of these procurement activities that will be advertised and we will look and see how the private sectors of both countries can participate in this,” he explained.
The engagement also touched on the development of buildings, office complexes, hotels, and green spaces in Guyana.
Some of these projects are funded by the government, while others are open to direct development and engagement with private entities.
Minister Edghill encouraged interested parties to participate in the bidding process and engage in partnerships to ensure progress and mutual benefits for both countries.