Region 10 eyeing several investment opportunities

Region 10 Chairman Renis Morian
Region 10 Chairman
Renis Morian

The Region 10 (Upper Demerara-Berbice) Regional Democratic Council (RDC) has its eyes set on a number of investment opportunities which once on stream, may yield economic results and provide employment.

According to Regional Chairman Renis Morian and Regional Vice Chairman Elroy Adolph, several influential Guyanese are interested in partnering with the region in order to bring several projects on stream. One such investment includes a television assembling facility to be set up in Linden. A particular company, which has its eyes set on this project, has already explored numerous possible location sites, Morian stated recently.

“Once the facility is in Region 10, it means the company will qualify to benefit under a particular trade agreement which would allow them to sell the stuff to Brazil with a limited amount of duty… so if they can assemble here and fulfil that trade agreement, it will be beneficial to the company. We took them to a number of facilities, a number of open spaces for them to make their choices,” he stated.

Another includes the construction of a modern hotel complex in Linden. Morian said there is an interest in utilising the site of the former Magistrate’s Court at Christianburg in the community. Once the project becomes a reality, he said water sports have been outlined as a possible attraction given the close proximity of the site to the Demerara River.

Another agency, Morian noted, has also been seeking to establish a branch of Burger King in the region since a few years ago, due to issues with the National Industrial and Commercial Investments Limited (NICIL) it did not come to fruition. It has been established by regional officials that NICIL owns most of the lands in the region.

“I saw the documents, I saw the letters. They would have applied since 2013 but NICIL was the hindrance. But I’m saying now that NICIL is owned by the people of Guyana… it should not be a hindrance,” the Regional Chairman contended.

According to Morian, an agreement had already been made for a lease, however he alleged that it was objected to by NICIL. The RDC is also exploring the possibility a 20 million-dollar agro sector investment; to plant, process and market products. A no objection in relation to the project was already sought from the Ministry of the Presidency and is presently with the Finance Ministry, the Regional Chairman indicated. Additionally, he stated that an investor is also seeking lands to conduct a trucking and mechanical facility in Linden.

Meanwhile, Adolph indicated that an overseas-based Guyanese has expressed interest in investing in a tourism venture, which will see yachting services being offered at the Kwakwani waterfront. Once all goes well, he said it would provide employment for 30 people from within the region.