-says President Ali; commits to using local funds to initiate critical projects

WITH Guyana being on the cusp of massive transformational development, the country has been attracting a high number of potential investors; so much so that the People’s Progressive Party/Civic (PPP/C) has been actively working to “tame” these growing interests. This is according to President Dr. Irfaan Ali, who pointed to the importance of strategising outside investments coming to Guyana.

“…because when you are managing an economy like this, you have to be mindful of the consequences of overheating; you have to be mindful of the consequences of having the investments itself [sic] creating shortages,” the Head of State reasoned.
He was at the time delivering the feature address at the sod-turning ceremony for the new $US20 million Courtyard Marriott at Timehri, East Bank Demerara.
Dr. Ali said that already, the country has been seeing signs of shortages in relation to certain construction materials. “That is why material management is so critical, and that is why we have to open up new areas and new quarries and so on,” President Ali said.

He noted that while the investment interests are being thoroughly examined by Vice-President Dr. Bharrat Jagdeo, the Cabinet has taken a conscious decision to expend local funds to kick-start key projects that are important for Guyana’s development.
“We are not going to wait, as a government, on loans that take too long. We are going to get the work started,” the Head of State asserted.

He said that as a result of the government’s decision to be proactive, several major infrastructural projects will be ready by the end of the year. These include the four-lane road from Mandela, Georgetown to Eccles, East Bank Demerara, as well as the designing, tendering and hopefully, awarding of the contract for the Eccles to Diamond bypass road, which will be done with local funds.

President Ali also announced the government’s intention to complete the Ogle, East Coast Demerara to Eccles section of the promised superhighway at least by the second quarter of 2021. That particular thoroughfare is slated to run all the way to the soon modernised Cheddi Jagan International Airport (CJIA), which will not only enhance the aesthetics there, but also boost the tourism and business sectors.

President Ali also pointed to the construction of a new Demerara Harbour Bridge, as well as the pioneering gas-to-shore project, which are slated for completion before the PPP/C’s five-year tenure (2020-2025).
The new East Bank-West Bank bridge link is expected to not only minimise the daily traffic woes faced by persons along both corridors, but it is being seen as enhancing the country’s aesthetics, while opening new lands for further development.

Meanwhile, the heavily touted US$900 million gas-to-shore project is promised to directly, and significantly lower the cost of electricity throughout the country. This is likely to provide an additional boost to local and international businesses, which will be able to cut their costs of operation.

“We have to invest, so that the end result is the success of various projects and investments that is what is critical for us,” President Ali indicated. He said that the idea is to ensure that there is a “matching of investments with what is required for the immediate, future and the medium-term” development of the country.
“We are heading in the right direction, but all of us must understand also that we have our role to play,” the Head of State Ali surmised.