The Guyana Office for Investment (GO-INVEST) has announced that it has recorded $12.5 Billion in investments for the first half of this year.
At a press conference this morning, the Chief Executive Officer of GO-Invest, Owen Verwey noted that the investments will account for more than four hundred and thirty (430) new jobs in the economy.
The CEO reminded that “The agency was established with the mandate to promote and facilitate foreign investments in the country”.
He explained that the $12.5 billion in investments came from both local and foreign investors.
Twelve of the investors are local, five are foreign and the remaining three represent a combination of both foreign and local investments.
Mr. Verwey further noted that though the 2018 target for Go-Invest stands at $107 billion, he is confident that the target could be met, noting that the agency continues to meet with scores of potential investors.
“There are quite a few projects that are in the pipeline, that we have been entertaining and facilitating discussions with” , the Go-Invest boss explained.
Many of the new investors are showing an interest in the Agricultural Sector and have been making efforts to procure land for large-scale agricultural activities.
Additionally, industrial and commercial land investors have also been looking at investment in Guyana, focusing on areas like Tuschen, Lethem and parts of the Berbice region.
The forestry sector has also seen more investments been made.
In responding to questions about the challenges in the traditional sectors, Mr. Verwey noted that those sectors have their own challenges that are separate to GO Invest. However, they have been actively seeking investors who would aid in the privatization of GUYSUCO. He noted that though, the investment agency would have anticipated that this would have happened sooner; delays in that process are ongoing.
GO-Invest has committed to further supporting and seeking foreign investors and giving local businesses platforms to exports their produces.
As such, the investment body has attended a number of Regional and International Trade Conventions to give local producers the platform.
To reiterate its commitment to trade, Go-Invest will be joining forces with other agencies and companies to host Guyana Trade and Investment Expo (GUYTIE).
The event will take place at the Marriott hotel from the 19th to 22nd September 2018.
(by Dennis Glasgow)
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