LEAP goes fishing for Bajan investors
Stabroek News
May 7, 2004
The Linden Economic Ad-vancement Programme (LEAP) has begun courting foreign investors for Linden in its bid to create employment in that region.
LEAP on April 3oth hosted an investment seminar at the Blue Horizon Hotel in Barbados to promote investment opportunities in Region 10 such as gold and diamond mining as well as in the forestry sector.
Kene Moseley, officer of Inward Investment Facility at LEAP explained yesterday that the seminar had a reasonable turnout and LEAP would be keeping in touch with investors who expressed an interest.
LEAP plans to visit Trini-dad and Tobago to conduct a similar investment drive there.
Formed in 2002, LEAP's objective is to attract investors into Region Ten with the goal of creating employment in the region. This $2.2 billion project is funded by the European Union and the Guyana government with the aim of creating 1,700 new jobs by 2009 when the project ends. An estimated 60 per cent of the population in Region 10 is below the age of 30.
The Barbados Daily Nation reported that Fraser told attendees that Linden, located close to the Brazil border, offers investment opportunities in wood-related products from 1.4 million hectares of tropical forest as well as minerals, agriculture, aquarium fish cultivation, tourism and recreational facilities. Linden was also marketed as lying on the Guyana/ Brazil transportation corridor.
Fraser told his audience that many of the residents were skilled in information technology, were technicians, electrical engineers, electricians, and maintenance engineers.
Making a case for investment in the area, Fraser noted that there was full and unrestricted repatriation of capital profits and dividends, while there was a zero rate on customs duty and consumption taxes on most plant machinery and equipment.