Over $400M invested in ‘Do it Best’ store at Ruimveldt
Do it Best – an international hardware and building materials brand – is now available in Guyana following the launch of a mega-store by its local affiliate, National Hardware Ltd.
It is located opposite the National Hardware supercentre store at Ruimveldt Industrial Site in Georgetown and according to the Chairman of National Hardware, Edward Boyer, it is an investment of over $400 million.
“We are comfortable that we are expanding in this atmosphere,” Boyer noted as he referred to shipping woes and supply chain disruption brought on by the COVID-19 pandemic and the ongoing war in Ukraine.
“That is pushing us back a little bit but we are dealing with it; as far as ‘Do it Best’ is concerned, we are hoping it bring up back our numbers,” Boyer added.
He believes the store will significantly improve the construction and building sectors in Guyana. For decades, National Hardware Ltd has been producing and importing products for the construction of buildings.
With this investment, National Hardware is now positioned to help take Guyana’s development to the next level, according to Minister of Tourism, Industry and Commerce, Oneigde Walrond.
This development speaks directly to the government’s massive housing drive to deliver on its plan to allocate 50,000 house lots in five years.
The government, through the Ministry of Housing and Water, has already started the construction of hundreds of young professional houses in addition to low-income and moderate-income homes.
Last month, the home building assistance programme was also launched where the government will build houses for persons who already have land but find it difficult to start construction.
“This is the context of our nationwide housing drive, which can be well supported by companies like National Hardware, as we work towards the goal of affordable home ownership for all Guyanese,” Minister Walrond stated.
She said National Hardware Ltd can also partner with local companies to help develop, promote and showcase locally manufactured building products. Walrond explained that there are small businesses that manufacture high-quality furniture, flooring and roofing among other products.
“We have a golden opportunity for large hardware retailers and wholesalers like National Hardware to use their market reach to work in partnership with local manufacturers to get their products to consumers,” Minister Walrond said.
Meanwhile, President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, said this investment is a testament that the National Hardware Group is committed to the development of Guyana and building the local private sector.
Tucker also used the opportunity to call on the government to fast-track the e-commerce legislation to allow for the use of multiple debit cards “so we can have easy checking out and the use of multiple debit cards and multiple platforms in terms of getting sales.”
Meanwhile, the President of the American Chamber of Commerce (AmCham Guyana), Devindra Kissoon, said they are proud to witness the growth of the partnership with a Guyanese company and an American company.
The ‘Do it Best’ store promises to make customers’ experience effortless and efficient.