“Be innovative with your investments” – Pres Ali urges business community


President Irfaan Ali has called on the business community to be innovative with their future investments as the “new Guyana” requires bold thinking, visionary actions and fearless decision making.

The Head of State made these comments during his address at the opening of the Amazonia Mall in Providence on the East Bank of Demerara.

He urged the business community to take advantage of the opportunities available and again called for them to form themselves into consortiums to benefit from large-scale investments.

President Ali said that the grand objective of the Government’s development trajectory is to ensure that every Guyanese has “an equal opportunity in the future”.

“Guyana is on the rise, we are rising rapidly. There is no second-guessing. What we have to do is to ensure that every Guyanese is a part of the development process to rise, to build, and to be part of this future. That is what we have to ensure.”

The President reflected on the rapid development of the East Bank corridor over the years and recalled the criticisms levelled when then President Bharrat Jagdeo had earmarked Providence as the location for the National Stadium and for an international hotel—now called the Ramada Georgetown Princess Hotel.

In addition, the President added that some were not too keen on the original housing development of the area.

“The banks are here, let them tell you the value of those lands now.”

He said that his Government will continue to push development and is speaking and working from a “proven track record”.

Further, the Head of State also stressed that the Government is assessing innovative ways to tackle imported inflation by working to find avenues and policies that can help all Guyanese, especially low-income earners.

“We are working with local, international and regional financing institutions to see how financing can be structured. To see where we can get the best possible development financing package for Guyana,” he stated.

President Ali also noted that in the last year, the Government has seen the growth of many local businesses that are now going into fabrication and logistics, among other areas.

To complement this and other developments, the President said that the Government has already turned the sod for three new hotels and are in the closing stages to have another three top international branded hotels in the country, with at least two more local brands by the end of the year.

“This is the type of development that is taking place. We don’t scream about it every day in the newspaper. But this is the transformation.”

The Mall, which is owned by former Guyana and West Indies cricketer Ramnaresh Sarwan, is expected to employ almost 300 persons and function as a recreational hub for Guyanese living in the vicinity.

According to President Ali, Sarwan’s achievement embodies the visionary action that Guyana needs.

He said that the Mall will not only enhance the community but the entire East Bank.

“The new Guyana we want to create and we will create, requires bold thinking, visionary action, fearless decision making.”

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