GUYANA | Go-Invest launches ‘Invest 55’

GUYANA | Go-Invest launches ‘Invest 55’

GEORGETOWN, May 25, 2021 - The Guyana Office for Investment (Go-Invest) has launched ‘Invest 55’ in observance of Guyana’s 55th Independence Anniversary. The project aims to promote investment opportunities here through global partnerships, increased competitiveness, while globalising Guyana’s economic sectors.

The areas include the agriculture, tourism, manufacturing, energy, services, ICT and mining sectors.

In a press release on Tuesday, Go-Invest said Guyana has been experiencing transformative and exponential growth since becoming an oil producing nation, with Foreign Direct Investment (FDI) and Local Content Investment (LCI) being among the engines of growth.

“The growing economy and improved infrastructure will bring benefits for regional partners. Guyana and Brazil will benefit from a long-planned road opening the door to bilateral trade. Another major project is the construction of the Corentyne bridge, which will link Suriname and Guyana and further expand Guyana’s investment portfolio,” the release stated.

Within a year’s time, Invest-55 is expected to be a central pillar in promoting immense opportunities in integrated mega farms, milk plants, corn and soya bean production for stock feed, expansion of call centres and business process outsourcing, manufacturing of machinery an equipment and alternative energy projects for hydro, solar and wind power.

Since the PPP/C Government took office, there has been tremendous interest in investment in Guyana. Several major branded hotels including the Hilton, Hyatt and Radisson have signalled their interest in establishing in Guyana. Only recently the sod was turned for the construction of the country’s first franchise “boutique” hotel, to the tune of $3 billion. In March a $5 billion Chinese seafood company was commissioned, which created some 240 local jobs.

In addition, the Government has been taking critical steps to create a business-friendly environment for potential investors. This is being led by President Dr. Mohamed Irfaan Ali who has committed to an electronic single window for trade and construction permits.

President Ali, addressing stakeholders at the third American Chambers of Commerce of Guyana (AmCham) Annual General Meeting, said Government will ensure that investors’ applications and requests are facilitated more promptly.

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