OVER 150 Guyanese are in line to benefit from employment as Atlantic Marines Guyana Inc. wraps up work on its industrial complex, which is designed to service the burgeoning oil and gas sector.

This is according to a post on the official Facebook Page of the Guyana Office for Investment (Go-Invest).

This addition to the job market comes even as the government continues to encourage investments from both local and international investors.
It was reported recently that there has been a notable increase in the number of opportunities for Guyanese, with the latest symbol of this being the approval of 48 private projects which, collectively, can create over 2,300 jobs

Based on information shared with this publication, of the 48 projects which have been approved, 17 are in the services sector, 17 in the manufacturing sector, five in agriculture, four in mining, three in forestry, two in tourism, two in Information and Communications Technology and one in the energy sector.

Those project proposals signal the growing interest and confidence in the local economy, from both Guyanese and foreigners. Noteworthy amidst this advancement, is the fact that 33 of the approved projects are from locals.

Speaking during a recent interview on Globespan, Chief Executive Officer (CEO) of Go-Invest, Dr. Peter Ramsaroop, had said that 65 per cent of the private investments made this year were from locals.

Dr. Ramsaroop said that, even as the economy continues to grow, President Dr. Irfaan Ali, and, by extension, the government, are committed to having Guyanese benefit from the investment opportunities that are available locally.

“So, when people think the foreigners are coming in and benefitting, I can say that 65 per cent of my signatures on investment opportunities this year, through the Senior Finance Minister, Dr. Ashni Singh, have been local businesses,” Dr. Ramsaroop said.

He added: “We’ve got another 10-20 per cent from CARICOM, which we are proud of, too, and then the rest come from the rest of the world. But it will change over time.”

But even with this being the case, the CEO had assured foreigners that Guyana is also open to them.
Their participation in local development was also visible this year, with some nine Foreign Direct Investment (FDI) projects being recorded up to this month, while there were three proposals from Guyanese in the diaspora, and six joint ventures.

The Go-Invest CEO further said that the government has been implementing systems to provide incentives to all investors, whether large or small. He reminded his audience that outlined in the government’s plans are opportunities for persons to become investors, and benefit from opportunities across several sectors.

“But what I want the smaller, middle-level businesses to know is that there are incentives no different than what we would give to large investors; you have to study the President’s plan, and how he outlines the initiatives.

“If you look at the first phase, it is significant infrastructure; the second phase is you bring energy. And if you look at, for example, the manufacturing industry, with cheaper energy coming to our shores in two-three years, you could now be able to have textile factories,” Dr. Ramsaroop reasoned.

Even as the government continues to encourage local investors to benefit from the numerous opportunities, Dr. Ramsaroop said that systems have been implemented to train and equip Guyanese with the necessary tools to reap the maximum benefits of any sector.