PRIME Minister(PM) Samuel Hinds, performing the duties of President in the absence of his Excellency President Donald Ramotar, declared open the  Fourth International Building Exposition in grand style last Friday evening at the Guyana National Stadium at Providence, East Bank Demerara.

Referring to the theme, “Consolidating Partnerships for Sustainable Development”, the prime minister observed that the housing and construction sector has been the leading sector in` Guyana over the past three years, providing focus, transforming the landscape across Guyana, providing work for persons, and stimulating demand throughout the country.
Reviewing the vision behind the first Building Expo, Prime Minister Hinds reflected on the move to regularise squatting areas and to distribute house lots across the country that led to pride in Guyanese ownership and the movement towards building homes for oneself. He observed that, as the economy continues growing, more assistance from the Government of Guyana would become available for Guyanese to continue building their homes.
The prime minister commended former Minister Indra Chandarpal for setting up the process of drawing lots from a bag to secure  houselots. This, he explained, had greatly reduced suspicion that the process was unfair.
He noted that what could not be done at the beginning of the process is now being done – providing, in developed areas, complete homes already built, as are being offered to young professionals and remigrants.
The PM urged Guyanese not to lose sight of the path of progressing from stage to stage, which now sees special incentives from the banking sector to help low-income earners. Hundreds of millions of dollars have been lent to this category of persons, who need this kind of assistance.
The expo is seeing participation from international companies out of Trinidad and Tobago, Venezuela, USA, Canada and Barbados.
Meanwhile, Minister of Housing and Water, Irfaan Ali, noted that a lot of investments from the public and private sectors have been channelled into this event. “The private sector has come on board in a strong way, particularly the local and private developers,” Minister Ali highlighted as he stressed that the level of public enthusiasm and interest has caused the ministry to expect a very successful expo. “We hope that Expo Four brings to the exhibitors and consumers full satisfaction,” he added.
This year’s expo focuses on the building of more local and foreign partnerships with the aim of diversifying the manufacturing base, while at the same time ensuring sustainable development.
The biggest highlight for the Ministry of Housing is “Silica City”, which is the first real initiative to take industry, commerce and residential housing to higher ground. Silica City offers a sustainable and viable solution for the country’s housing needs.
Regional and international exhibitors are also participating in this event, providing investment opportunities and creating opportunities for networking between and among local, Regional and international businesses.
Meanwhile, Chairman Ronald Webster of the Private Sector Commission, while delivering brief remarks, observed that the theme for the Expo is apt because increased mortgage credit is now available for new home owners.
Webster elaborated on the importance of the construction industry, and pointed out that there will soon be more ways created to increase home ownership in Guyana.
He further pointed out that the construction and real estate sectors have had a combined average of 11.3 percent of GDP over the past four years.
Webster deemed “impressive” the increase in mortgage credit to the private sector, which stands at an annual average of 17 percent, from 27.3 billion Guyana dollars in 2009 to 45.7 billion in 2012.
The Building and Construction Exposition showcases exhibits from suppliers of hardware and electrical items, contractors, construction and engineering companies, millers and lumber dealers, housing developers and real estate agencies, furniture manufacturers and suppliers, and suppliers of paints and household items, among other items.