Guyanese in the diaspora will soon have an opportunity to put their money into major development projects at home through a new investment mechanism being prepared by the government.
President Dr Mohamed Irfaan Ali announced the initiative on Thursday evening while addressing Guyanese at a diaspora forum in New York.
According to the President, the investment vehicle will be used to raise financing from overseas-based Guyanese and allow them to benefit from projects being developed locally.
“We are going to launch very soon a special investment vehicle to mobilise resources in the diaspora,” President Ali said.
Among the projects identified for investment are the proposed fertiliser and gas bottling plants, with the President indicating that returns would be guaranteed by the government.
The initiative forms part of a wider push to strengthen the diaspora’s participation in Guyana’s development.
Ali also outlined plans to further digitise government services. By the beginning of the new year, Guyanese at home and overseas are expected to be able to access government services through a single mobile application.
The system is expected to provide users with a personal digital vault containing their information, allowing certain documents and forms to be automatically populated.
Additionally, a national payment system is expected to be rolled out before the end of this year, allowing users to make payments, conduct bank transfers and settle accounts using their mobile phones.
“We have to adopt the best technology today …We don’t have the time to work in a straight line,” Ali told the gathering.
Meanwhile, the President reiterated the government’s plan to construct 40,000 homes over the next four years. He said major companies from several continents have already responded to an expression of interest for the housing programme.
Social housing will also continue for vulnerable groups, including single parents and persons living with disabilities.
“It’s not only building 40,000 homes. It is powering those homes,” the President said.
Ali also pointed to continued private-sector interest in Guyana, highlighting the recent approval of a US$127 million loan by IDB Invest for a Middle Eastern investor pursuing a hotel and convention centre project valued at more than US$200 million.
Looking ahead, the President listed several major projects targeted over the next four years, including a deep-water port, the road link to Brazil, a second power plant, further development of the Wales Development Zone, data centres, a new airport at Lethem, a second terminal at the Cheddi Jagan International Airport and a new four-lane bridge across the Berbice River.
He also pointed to the government’s record over the past five years, citing 160,000 new jobs, more than 5,000 kilometres of roads and over 100 new schools.
