Kowlessar predicts $18B in private investment
Stabroek News
March 29, 2003
The government expects private sector investments in Guyana to grow to US$90M or G$18B this year, creating over 2800 new jobs.
Finance Minister Saisnarine Kowlessar says that these investments, facilitated by the Guyana Office forInvestment (Go-Invest) would be in the areas of fresh food, energy, wood, tourism, light manufacturing, textiles and garments, handicraft, services, information and tele-communications technology, housing and infrastructure.
In his budget speech yesterday he said he expected that a number of additional job opportunities would also be created as a result of these investments.
Kowlessar did not provide specific information in his budget presentation yesterday on the nature of these investment projects but referred to them as he dealt with measures to create a stable economy for job creation.
The minister said that a second source of employment would derive from the micro-enterprise sector. He said to this end, the government intended to table in parliament this year the Small Business Act.
The government is also continuing its public sector investment programme with some $24 billion to be expended this year.
Kowlessar said some large projects to start include the bridges programme, the road, drainage and irrigation, sea defence and the Skeldon Estate Expansion Programme, all of which would generate employment. The government's maintenance programme is also budgeted at $1.5B and would create additional jobs.
The new Public Hospital in New Amsterdam and the Convention Centre at Turkeyen are also seen as additional job opportunities for the unskilled, the semiskilled and the skilled.
Kowlessar said the government would also continue its labour intensive Temporary Employment and Mainten-ance Programme which began last year to beautify and enhance the environment by cutting grass, cleaning drains, painting bridges and removing old vehicles and machinery among other initiatives.
