OVER recent times, there has been an attack on investors by the combined Opposition, particularly Chinese investors, but the concessions granted to this set of investors is no more than what is given to other foreign investors.
This is according to President Donald Ramotar, who has underscored the fact that all investors, local and foreign, are critical to Guyana’s development. The Head of State, in a recent interview, said there is a level playing field for all foreign investors, as well as local investors.
“Particularly, Chinese investments are targeted and being criticised; but let me say that we have not given any Chinese company one more benefit or one more priority than what we would have given to any foreign company that comes to this country.”
President Ramotar reiterated that there is one policy for all investors as he debunked suggestions that one group of investors enjoy more benefits than another.
“… the impression is being created differently in our society, by the spin doctors in Guyana. There is absolutely no extra benefit given to (Chinese) investors. All (investors) have the same benefit.”
Pointing to other companies including Canada, Australia, and the United States of America, the President reiterated that they all have benefited from the same concessions given to the Chinese.
“It is totally untrue, the attacks against the Chinese, I don’t know why, because the Chinese are now one of the most important developmental partners for many countries in Latin America and the Caribbean. It is the Chinese investors that are bringing in the capital than probably any country at this point in time.”
President Ramotar added that the criticisms and comments coming from the Opposition about Chinese investors all fall into their pattern of what they have been playing out in the 10th Parliament.
“ I don’t know if this attack falls into the general pattern of what I have had to deal with over the last three years, of the Opposition trying to frustrate any kind of developmental initiatives to prevent them from taking place…this seems to be geared in that direction to try to discourage investment in our country.”
The President also call on citizens not to fall into this thinking as they must become aware that Guyana’s further development depends on all investments, both local and foreign. It is a fact that these types of investments continue to create jobs for Guyanese and propel Guyana into a modern state.
However, even in the face of these attacks investors continue to show confidence in the local economy as more businesses are expanding and new businesses are coming to every region in Guyana.
On March 11, Bauxite Company of Guyana Incorporated’s (BCGI’s) Kurubuka Mining and Production Complex was commissioned in Region Ten. The mine is located immediately adjacent to the Berbice River.
BCGI, a subsidiary of the Russian company, RUSAL, has invested over $4.6 billion on the mine. Surrounding communities stand to benefit as hundreds of Guyanese are currently employed by the company.
In the recent past, several investments have evolved both local and international. Among these is Popeye’s branch in the vicinity of the Stabroek market; the Caribbean’s largest conglomerate formerly Neal and Massy, now Massy, invested US$10M into a distribution centre at Montrose, East Coast Demerara; Unicomer, the parent company of Courts, injected US$6M in a distribution centre at Eccles, East Bank Demerara; Republic Bank opened a new branch at D’Edward Village, West Coast Berbice, built at a cost of $508M; and the Guyana Bank For Trade and Industry injected $60M into a branch in Bartica, Region Seven.
Additionally, numerous businesses have opened their doors in the city and across the country. (GINA)
