WITH investors flocking to Regions Three and Four following projections of bright economic prospects for Guyana in the years ahead by major financial institutions, the government is offering to co-invest with companies willing to establish operations in Regions Two, Five, Six, 10 and the hinterland regions.

Addressing a series of community meeting on the Essequibo Coast, on Wednesday, Vice-President, Dr. Bharrat Jagdeo said that the government is willing to help fund the “shell” of buildings, provide training and subsidise the cost for bandwidth for operations like call centres that will provide scores of jobs.

Job creation, he said, is a major focus of his government and pointed out that monies from oil and gas, a cent of which is yet to be spent, will be invested in education, health, modernising public infrastructure, strengthening other productive sectors and more particularly, diversification of agriculture.

These steps, the Vice-President said, will lay the foundation for Guyana to enjoy prosperity long after oil is no more. He took a critical view of some commentators who have been calling for cash from oil to be distributed as handouts to the populace.

The Vice-President contended that such utilisation of the money will not prepare Guyana for the future and stressed that this approach to governance is not in the philosophy of the People’s Progressive Party/Civic (PPP/C).

To drive home his point, the Vice-President pointed to the capital expenditure under the APNU+AFC Government, which, for its years in office, was less than what the PPP/C Government allocated in 2014.

CONSUMPTION PHILOSOPHY
He said that heavy expenditure on current projects with less investment on capital ones indicate a consumption-drive focus, which is a known philosophy of the PNC when in government.

The shortfall in this approach to governance, Dr. Jagdeo said, is that less attention is placed on building infrastructure to improve services, modernise the country and create wealth and altogether reflects the hallmark of an irresponsible and visionless government.

The PPP/C government, he said, since coming to office some two years ago, has been working overtime to correct the wrongs of the former government and will continue to look for opportunities to increase employment, particularly in the outlying regions.

On Tuesday, he announced that some 800 temporary jobs will be made available to residents of Region Two. These jobs will cater for not more than one member per family and seek to supplement the income of families in need. Persons employed will work at government offices and institutions and will provide their services three to four days per week.

ENERGY COST REDUCTION
The government’s gas-to-shore project, he said, will also give impetus to the manufacturing sectors as it will slash electricity cost by 50 per cent. High energy cost has been a major deterrent to small and medium size manufacturers in expanding their business, which concomitantly will create jobs.

A fertilizer plant is expected to be an offshoot from the gas-to-shore project and a protein plant is also being considered.

On the Essequibo Coast, Dr. Jagdeo said that the government will be investing in a solar project that will add eight to 10 megawatts of power to the region’s current generation capacity. This project is expected to enable a more stable supply of power to residents of Region Two.

This aside, he also disclosed that the government will be allocating some 250 grants for small businesses in the region with viable business proposals.

Also, this year, the government has allocated some $1B in the national budget for road projects in the region, which will also create hundreds of jobs for Region Two residents.

A US$30 state-of-the-art hospital will also be built at Anna Regina this year, which, the Vice-President said, will reduce the need for Region Two residents to travel to Georgetown for critical medical care.

And these are not all of the major infrastructural works that will be executed in the region this year. Jagdeo, on Tuesday, said that two water treatment systems will be installed in the region and $600 million has been allocated for the dredging of the mouth of the Pomeroon River. This project is expected to significantly reduce flooding in the Pomeroon.