THE MINISTRY of Housing and Water yesterday launched its ground-breaking International Building EXPO, scheduled for 6th – 8th August at the Guyana National Stadium.
The event, which was held at the Princess Hotel, attracted a wide cross-section of participants from the banking sector, the private sector, and the construction industry.

MC of the event, Mr. Emil McGarrell, PS of the Housing Ministry, said that the Expo provides investment opportunities in products and services for Guyana’s Private Sector, as well as regional and international businesses. He said that the interest of the Government resides not merely in the allocation of house lots, but also in facilitating enabling mechanisms to potential homeowners to achieve their objective building their homes in cost-effective ways, which he says requires collaboration between Private Sector and Government.  He commended Minister Irfaan Ali for the renewed dynamism and energy he has engendered in the staff and the sector for which he holds portfolio.

Mr. Ramesh Dookhoo, Chairman Dookhoo, said that Guyana has several world-class companies that produce products to international standards of excellence.  He said that the members of the Private Sector are confident that this Expo, which brings together companies and consumers, will have a beneficial effect of increasing the number of new homes and increasing the awareness of the various stakeholders of the multiplicity of available opportunities.  He urged all companies with either direct or ancillary interest in the building industry to participate in the Expo.

Minister of Housing and Water, Hon. Irfaan Ali, obviously buoyed by the potentials engendered by this latest initiative driven by his Ministry, said that, although the construction industry has continuously expanded its contributions to national GDP, it yet has not harnessed the potential power and full effect the industry can bring to the country.

He said that his Ministry is attempting to create linkages in investments with this initiative, because the Expo goes beyond construction, because there are immense related potentials for development and expansion of the sector.  He names the financial sector, which he said has to be a critical part of the Expo, which is intended to create investment opportunities by establishing business relations and linkages.

Stating the intention of the Expo to not only bring products from the Caribbean and further afield, but also to ensure that Guyana has strong representation from the manufacturing and other business sectors, because Government wants local suppliers and developers to exploit and utilize the potential and opportunities presented by Guyana’s construction boom, and even projects further afield, such as Haiti’s re-construction.

Speaking of a projected transformation in Guyana, which will be engendered by the development of an additional 17,000 house lots, Minister Ali said that this would not only be at the Government level.  He cited the record number of persons seeking approval for private housing development, including infrastructure and home construction.

He said that it is time for local businesses to profit from the opportunities and cited the high quality of cost-effective products that are manufactured in Guyana, which compares favourably, both cost-wise and quality-wise with internationally manufactured goods that are imported into our country.  He said that this is Guyana’s opportunity to establish the foundation for greater expansion of its construction and related industries.

Speaking of the significant potential for retirement homes that can be tapped, Minister Ali said that it is time for everyone to play a part in this exciting future.  He alluded to initiatives where  the financial sector has used the opportunities provided by Government’s concessions to expand loan portfolios.

The International Building Expo is another of Government’s initiatives to work in sync with the Private Sector to introduce and establish facilitating mechanisms to promote home ownership.

The event will see participation from China, India, Canada, Brazil, among others and will, along with creating investment opportunities, will enable networking between and among local, regional and international businesses.  It offers exhibitors an opportunity to showcase products and services, meet investors, exchange ideas and disseminate technical information, promote construction methods and techniques, introduce new building materials, explore investment opportunities, and discuss best practices in housing and urban development.