–with commissioning of Caribbean Concrete Guyana Inc., Linden Medical Supplies
–initiatives to create employment for scores of residents
THE Chetram Brothers Group of Companies, on Friday, officially commissioned two new companies under its group in the town of Linden, Region 10.
Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, who delivered feature remarks at the opening ceremony, commended the investors for this important step and related that both initiatives will drive economic growth in the region.
The companies, Caribbean Concrete Guyana Inc. and Linden Medical Supplies are both located at Amelia’s Ward.
Dr. Singh said both companies will bring the total investments by the CB Group of Companies in Region Ten to approximately $400 million.
He said that the investments represent a visible response to the government’s policy to promote investments within the region.
“The investment by the Chetram brothers of $400 million represents a visible and tangible response to a very specific government policy to promote and attract investment in regions like Region Ten,” Dr. Singh said.
The senior minister said that the government was pleased to see local investors like the Chetram brothers responding to the policy environment created by the PPP/C administration some time ago.
This investment, he said, is important, as it creates jobs and further aids in the growth of the local economy of the region. For these jobs to be created, it was noted that incentives must be provided to allow businesses to invest in specific areas.
Added to this, Minister of Public Works, Juan Edghill, said that both companies are testimony to the environment created by the PPP/C some years ago, with the passing of legislation to provide incentives for investors willing to operate in certain regions.
He pointed to the Fiscal Enactment Act of 2008, which, he said, laid the foundation to ensure that investments of this magnitude take place in all regions across the country.
Edghill added that that piece of legislation was intended to stimulate investments in specific regions and in specific areas. Those regions are One, Seven, Eight, Nine and 10. According to the Public Works Minister, it was the PPP/C’s vision to ensure that development takes place in every region.
“That one piece of legislation can debunk any narrative that says the PPP/C discriminates against any region or any race,” the minister said.
He added that investments must come to all parts of Guyana, noting that the government since entering office, has encouraged widespread investments.
The Public Works Minister further encouraged residents of Region 10 to welcome these initiatives and work along with the investors to ensure that they stay and keep the job opportunities that they brought to the region.
Meanwhile, co-owner of the companies, Amar Chetram agreed with Minister Edghill that the operationalisation of the companies was in direct response to the FEA of 2008.
Chetram said that while the piece of legislation existed, it appeared as though no one took notice of it and took advantage of the opportunities it presented.
However, he happily said that with the establishment of the businesses, they are able to employ a minimum of 100 persons and when there are projects in the communities, to extend that number to 200 to 250 persons.
In highlighting the advantages of the ventures, Chetram said that there are many incentives to investing in the region, adding that the government is there to assist along the way.
The co-owner who is also the corporate secretary, said that the Linden Oxygen Company has already installed delivery systems in five medical locations and further provides oxygen to approximately 20 medical, commercial and industrial consumers.
This company, Chetram said, is capable of providing in excess of 4,000 cylinders of oxygen per month. And, regarding the concrete plant, he said that it is the first of its kind in the region and is capable of batching, delivering, and pumping more than 500 cubic yards per day.