THE renowned Pasha Global Group, headquartered in Suriname, is planning to construct a massive hotel in Guyana.

The company’s plan to enter Guyana is timely, since the country is undergoing rapid economic transformation, fuelled by its oil-and-gas sector, and developments in other key productive sectors.

It was widely reported that Guyana’s economy is on course to growing by 47.5 per cent, and 7.7 per cent in the non-oil economy in 2022.

This economic performance will follow growth rates of 19.9 per cent and 4.6 per cent in the non-oil economy recorded at the end of 2021, despite the persistence of COVID-19, as well as the impact of floods. With this rate of overall growth, Guyana is likely to be amongst the fastest growing economies worldwide in 2021.

Based on Budget 2022, the government intends to maintain and even enhance its approach to stimulating growth in various economic sectors.

In line for positive results this year is the construction sector, which will see heavy government investment in projects across all sectors, coupled with major projects coming from private sector investment initiatives.

While specific details on Pasha Global’s intention to join the ongoing development is still unknown, the Guyana Chronicle understands that the company’s plan is being reviewed by the Guyana Office for Investment (Go-Invest).

According to its website, the Pasha Global Group was founded in 2003, and is a dynamic casino investment company that is developing and operating hotels and casinos in various countries.

“In the short period since its founding, Pasha Global has managed to excel as a niche casino operator with remarkable growth realisation. The management of the Pasha Global Group has managed to create an exceptional shareholder’s value for its principals.

“In addition to being a part of existing casino management contracts, the Pasha Global Group is also aiming to raise capital funds for a carefully researched portfolio for investing in lucrative markets,” the company says on its website.

Pasha Global is owned and operated by casino professional executives with more than 1,000 employees.

“Our joint goal is to have a growth through investments and acquisitions in markets where we can make a difference through our quality management approach,” the group says.