The Region Three Private Sector Inc (R3PSInc) is extremely pleased with the sectorial investments presented in the $553 billion budget, and is also impressed with the push for a low carbon economy and the measures outlined to achieve same.
With Government’s intention to spend nearly 50 per cent more money than it spent through the 2021 budget, the R3PSInc acknowledges the much-needed areas of development in agriculture, education, infrastructure, health, social services and human resources.
We are anticipating the advancement of the $21.1B construction of the new, fixed, four-lane high-span Demerara River Bridge, which would transform all aspects of business and development within Region Three.
The new bridge forms part of Government’s drive to expand and modernise Guyana’s transport infrastructure, and would also offer critical connectivity to the new Wales Development Authority, which would be a major centre of productive activity when it comes on stream.
What can be considered Christmas in January, and is also highly commendable, is Government’s plans to provide more disposable income to people through increased cash grants and the removal of taxes.
The R3PSInc also notes the great investment of $47.9B set aside towards ensuring the restoration and preservation of law and order in Guyana, with intelligence-gathering and information-sharing to improve diagnostic competencies by law enforcement agencies.
Further, the investment of funding to accelerate the development of the transformative gas-to-energy project and the Amaila Falls Hydro Power Project must be commended.
These investments would unlock the Private Sector transformation, which embraces more significant value-creation through light and heavy processing.
Further to this, the electrification of the interior is commendable, as this would narrow the disparity between rural and urban areas, and pave the way for a robust digital future for Indigenous peoples and rural communities, while Government’s initiative to implement Electric Vehicle (EV) charging is excellent and sets an example for the shift to a more sustainable and environmentally friendly country.