Guyana in ‘enviable’ position for investments – Dr Jagdeo

Investments in multiple sectors have increased significantly over the past three years, demonstrating the government’s ability to create an attractive climate for doing business.

This is according to the Peoples Progressive Party’s General Secretary, Dr Bharrat Jagdeo speaking at a media engagement Thursday at Freedom House, Georgetown.

General Secretary of the People’s Progressive Party, Dr Bharrat Jagdeo

Dr Jagdeo made these statements as he disapproved of Norton’s criticisms of the government’s policies, pointing out that they are “divorced” from facts.

In reality, investments have grown significantly, and the government has advised its foreign missions that are responsible for mobilizing investments to be cautious in certain sectors.

“They have to be cautious now as to the mobilization of investors because we are already overloaded and we didn’t want the economy to overheat. So, they had to be very strategic,” he explained during his press conference.

He highlighted that the administration is now seeking targeted investments, demonstrating the significant progress made in just three years.

“We can now pick and choose because we’re in this enviable position compared to other countries that are not getting investors and just look at the regional example or the global example,” the general secretary noted.

Ten hotels are currently under construction in Guyana as the government pushes to achieve 2000 rooms by 2025 to accommodate the vast influx of visitors the nation has been witnessing.

These include the Aiden Hotel, Four Point by Sheraton Hotel, and the AC Marriott Hotel among other branded-hotels.

“Which country in this hemisphere or any part of the world … can boast ten new hotels being developed at this pace, in just a few years … nowhere in the developing world this is happening,” Dr Jagdeo argued.

Guyana’s agriculture sector is also rapidly expanding with millions in investments being pumped in the varying sub-sectors ranging from local companies to international businesses from Brazil, Israel, Argentina and the Middle East.

“You listen to CARICOM heads; you hear the IMF saying the same thing about the dynamism in our economy. And then you listen to the pip-squeak Norton. Who would you believe?” he questioned.

The former head of state noted there is no reason to defend the undeniable development, but as general secretary of the PPP, he has a duty to respond to undue, unfounded and skewed criticisms from the opposition.

Significant investments have also been made in the energy, oil, gas, and tourism sectors, which will lead to sustainable economic growth and create job opportunities.

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