–town’s Chamber of Commerce says, points to opportunities for investments

EVIDENCED by a recent $400 million investment in the Linden, Region 10, economy through the launch of two new businesses, more is being done in the region to stimulate economic growth and advancement.

President of the Linden Chamber of Commerce and Industry, Victor Fernandes, during an interview with the Sunday Chronicle, said that the most recent investment is one of the most significant private initiatives that has been undertaken in recent times in township.

Just under two weeks ago, the Chetram Brothers Group of Companies commissioned two new companies, bringing the total investments by the company in Region 10 to approximately $400 million. Through this initiative, the company has also created approximately 200 jobs in Linden.

Fernandes said that Linden has been a community with high rates of unemployment and such a venture is timely and would significantly lower this rate and stimulate growth in the local economy.
“We’re talking about bringing significant benefits to the economy and the well-being of Linden,” he said, adding that those types of investments into the region are necessary.
As a chamber, Fernandes said they have recognised that there is great potential for development in the region.

The chamber president said there are various avenues for development that investors could explore. And the chamber will continue to encourage entrepreneurs, especially local entrepreneurs to invest within the region.
Meanwhile, Fernandes also referenced the Fiscal Enactment Act of 2008 which was intended to stimulate investments in specific areas like Region 10 by providing incentives for investments.

The chamber president said that the organisation has had sensitisation sessions with the Guyana Office for Investment (Go-Invest) on some of the incentives that would be granted for investments in specific areas outlined in the act.

Through those sessions, the chamber was able to gather and share knowledge with members of the business community in Linden in an attempt to stimulate investments.
Meanwhile, Fernandes told the Guyana Chronicle that the Linden Chamber of Commerce and Industry is currently in the process of launching a business forum in the coming months to attract investors.

“We’re looking to woo investors. We will have speakers from the various areas, tourism, small, micro, and large business addressing those areas so that our members can be sensitized on the benefits and potentials of investing in Region 10,” he said.
Fernandes added that they hope to host this business forum in the latter part of October and further facilitate the formation of more businesses in the town and region at large.