–$1B mall, gas-to-shore pipeline, road from Schoonord-Parika, for Region Three
FUELLED by critical investments by the government and those from both local and foreign investors, Guyana is on a path to sustained economic growth, a reality that has inspired stakeholders in Region Three (Essequibo Islands-West Demerara) to position themselves to capitalise on the existing and impending opportunities.
In the pipeline for the region, among other things, is the construction of a $1 billion state-of-the-art mall at Leonora, West Coast of Demerara. The mall is the brainchild of businessman and developer, Hemraj Albert.

“To the Albert family, I want to assure you that the government is not only aware of the environment you are investing in, but we are supportive of the investment by the private sector. We are supportive of the private sector becoming the leading implementer of growth and development whilst the government provides that facilitation role.
“And this is the role of government, to create the facilitating role so that wealth can be created, jobs can be generated and the private sector play a key and critical role in this,” the President, Dr. Irfaan Ali had said a ceremonial sod-turning ceremony in February.
The mall, to come on stream, he said, will complement the massive development projects slated for not just the region but the entire country.
Founder of the Region Three Private Sector Inc., Halim Khan, has said that the overarching development planned for the country will catalyze advancement in Region Three and even make the region a hotspot for investments.

In a recent interview with the Guyana Chronicle, Khan said the government was already looking at tax incentives to attract and motivate local investors, while at the same time empowering them to be competitive.
President, Dr. Irfaan Ali has related already that Region Three has been earmarked for the expansion and creation of essential services to support Guyana’s burgeoning oil and gas sector.
The western bank of the Demerara River will be used to create shore base facilities and the Wales Development Authority which will accommodate the natural gas-to-shore project and the new power plant for energy generation.
With the creation of the new four-lane highway from Schoonard to Parika, the President also noted that additional industrial development, agro-processing and manufacturing can be expected in the region in the coming years.
Those developments, he said, will attract investors and result in the stimulation of growth in the regional economy, generating jobs for people and allowing them to generate wealth.
In the immediate term, Khan said that, although the COVID-19 pandemic has severely impacted businesses around the world, local businesses continue to be resilient and committed to achieving their goals.

Among the focus within the region, he said, would be the need to educate entrepreneurs and other persons who would like to join the business community.
Khan noted that the Guyana Office for Investment (GO-Invest) will be approached to host programmes to educate persons who intend to contribute to Guyana’s economic development.
The businessman advised persons who want to get into business to first understand the steps to registering a business. Essentially, a potential businessowner would have to obtain a Taxpayers’ Identification Number from the Guyana Revenue Authority (GRA), identify his/her target markets and acquire the appropriate licences.
Depending on the business, he said persons may need to be licensed by the Environmental Protection Agency (EPA).
Khan was particularly keen on advising persons to become compliant because stakeholders need to be prepared for the proposed gas-to-shore project, which is expected to cost roughly US$900 million.
Landing the gas project at Wales, he said, would also enable to rejuvenate Wales, a community which was hard-hit because of the closure of the sugar estate.
This project, once done properly, will see Guyana’s manufacturing sector benefitting significantly from reduced energy costs.
The Gas-to-Shore Project Advisory Committee, which is led by former Chief Executive Officer of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington, and comprises other technical experts, analysed all options and past studies before choosing Wales for the project.