US$1.1B garnered from investments in past year – NICIL

The government’s asset and investment arm NICIL on Saturday said it was able to mobilise US$1.1 billion in investments for Guyana over the past year.

NICIL’s Board of Directors in a statement said NICIL is on the way to unleashing its full investment potential capacity.

NICIL stated that among the revenues that NICIL has secured over the past year are the US$3 million from Bosai; US$10 million from the Guyana Telephone and Telegraph Company (GT&T) and a significant amount from several other investors from deals to build hotels, condominiums, restaurants and the specialty hospital project, among others.

“There are more investments that we will continue to generate through NICIL for this country and I can assure you that it will continue to increase tremendously,” Chief Executive Officer Colvin Heath-London projected.

The Board boasted that the investments secured through a multitude of investment projects, payment of fees and other investment-related costs will help spur significant economic growth and development nationwide.

“We have seen massive inflow of investment value coming and this was primarily possible through the prudent and excellent negotiations that were executed under our young and vibrant management team,” Board Director Dr. Grantley Waldron was quoted in a statement as saying.

The Board applauded its Chief Executive, saying he has been on a sustained push to lure lucrative investments into the country.

“The Board continues to be marveled by the level of investments coming in, while we are impressed with the number of persons who seek to do business here,” NICIL stated.

NICIL said it is executing its agenda and mandate professionally, thus ensuring that Guyanese at all levels benefits significantly from the various levels of investments, as we are seeing various types of investments, which argues well for Guyana and Guyanese,” they added.

NICIL said some 3000 plus jobs are being created, thus resulting in the general public having access to more money, which ultimately will rebound in increased business among other sectors.
Grantley said that much more is planned and NICIL will champion the cause of investments and social responsibility.

“The investors who have been expressing interest are not only foreigners has we have Guyanese at home and abroad who also have interest and are serious about investing,” Heath-London stated.