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SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Modern Guyana being constructed with world-class infrastructure

COGNISANT that a “sturdy” foundation is needed to create an environment that is conducive to business and investments, the government has, over the past two years, embarked on a drive to transform the infrastructural landscape of the country. * In 2021, the government earmarked G$58.2 billion for the development of public infrastructure. On the capital side, the budget for infrastructure is G$32.9 billion or 32 per cent of the total allocation for 2021. Some of the major infrastructural ventures of the government include: * US$260M contract signed for New Demerara River Bridge * G$2.6B Mandela to Eccles four-lane highway commissioned

Georgetown Chamber of Commerce and Industry: This investment provided the financial grounding for the buildout of the country’s infrastructure and the basis for re-starting economic growth, which would have been hindered by a protracted electoral process and the pervasive COVID-19 pandemic.

* US$190M upgrades commence on Linden to Mabura Road * In December 2020, after four months of resisting the government’s request to have the Cheddi Jagan International Airport expansion project

Ogle and Eccles Further, in keeping with the government’s development trajectory, the Ministry of Public Works has been executing major infrastructural projects across Guyana. * The government al-

alleviate the high cost of transportation, thus creating social and economic benefits for users. * The 72-mile hinterland road link begins in North Rupununi, Region Nine, and will connect to Region Eight at Monkey Mountain. The road maintenance project will benefit some 15,000 residents from 28 villages in the region. * Additionally, the Kato- Kurukubaru, Kurukubaru- Itabac, and Kamana- Kopinang roads are set to be rehabilitated to the tune of some G$39.8 million * In keeping with the government’s vision to

Public Works Minister Juan Edghill: “These are going to be major new infrastructure that we will put in for the opening up of new lands, getting produce to market, being able to help with industrialisation, and gas to energy project coming in at Wales with the possibilities of downstream petro-chemical industries including the production of fertilisers.” completed in accordance with the initial contract, CHEC agreed to conduct additional work at the airport. With the company completing its side of the agreement recently, the final phase for the completion and opening of a new corridor is the installation of air bridges * G$2.3 billion allocated for the East BankEast Coast Demerara Road linkage between

located some G$3.4 billion for hinterland roads. In Region One, citizens will benefit from several rigid pavement concrete roads in the sub-regions of Mabaruma, Moruca, Port Kaituma, and Matarkai * In Region Eight, the construction of a hinterland road link that connects the region to Region Nine is underway. When completed, the road will

make transportation easier, work has also begun on the new stellings in the various sub-regions to facilitate the docking of the new G$2.5 billion NorthWest ferry, the MV MA Lisha, which is expected to set sail to Guyana in the coming months. * Two massive infrastructural development works are in progress on the Lima Sands and On-

derneeming roads, Region Two. Work on the sea defences at Charity River Dam and several miscellaneous roads in every NDC is also ongoing. * In Region Three, the alignment for the Del Conte Road, which begins at Parika, East Bank Essequibo, and goes all the way down to Goshen has already been cut and established. This road will link Region Three to Region Seven creating massive development. In addition, similar alignment works were executed on the Schoonord to Parika roads. * Works are being executed in Little Africa, Little India, and Crabwood Creek among other areas, and are being undertaken by residents from the various communities. This initiative is geared at making residents more proactive in the execution of developmental projects within their communities * The government has developed a plan which will see the development of Region Seven into a service hub for the mining sector, which will in turn benefit over 21 communities. Works on the Timehri to Bartica Road are ongoing. This is one of the government’s major transformational projects. Works are also ongoing on the Bartica to Mahdia and Issano roads. * In budget 2022, the sum of $2.5 billion was approved for Region Eight, which would go towards its development. * In Region Nine, works, including rehabilitating and building access roads and bridges and installing lights and other infrastructure in and around the region are progressing well. * G$3.1 billion was allocated for the construction of 32 concrete bridges along the Kurupukari-Lethem corridor to facilitate the construction of an asphaltic road that will eventually lead from Linden to Lethem.

Economy flourishes, prospects remain bright

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

THE past two years have been a productive period for Guyana’s economy, which recorded positive economic growth on account of sustained production in the oil and gas sector, and positive output performances in the non-oil sectors. * Driven by increased production in Guyana’s burgeoning oil and gas sector and projected improvements in the performances of traditional mining and construction, Guyana’s economy is on course to growing by 47.5 per cent and 7.7 per cent in the non-oil economy, in 2022. This economic performance will follow growth rates of 19.9 per cent and 4.6 per cent recorded at the end of 2021, despite the persistence of COVID-19, as well as the impact of floods. With this rate of overall growth, Guyana is likely to be amongst the fastest growing economies worldwide in 2021. * Coming out of a “rocky” period in 2020, Guyana managed to remain resilient against internal and external shocks in 2021, recording Gross Domestic Product (GDP) growth of 18.5 per cent, according to the Economic Commission for Latin America and the Caribbean (ECLAC) in its latest report titled, “Preliminary Overview of the Economies of Latin America and the Caribbean 2021.” * The ECLAC report shows that the region is facing a very complex 2022: uncertainty regarding the pandemic’s ongoing evolution, a sharp deceleration in growth, continued low investment and productivity

and a slow recovery in employment, the persistence of the social effects prompted by the crisis, reduced fiscal space, increased inflationary pressures and financial imbalances. Guyana, however, is projected to withstand the impending challenges as a result of its burgeoning oil and gas sector and other lucrative productive sectors. The country, according to ECLAC, stands to record GDP growth of 46 per cent by the end of this year. * Guyana’s economy re-

sub-sector is projected to grow by 12.2 per cent in 2022, on account of higher expected declarations from

President, Dr. Irfaan Ali: “Our economy is becoming stronger; it is rebounding from the two-year-long effects of the coronavirus pandemic. Businesses, both local and foreign, are capitalising on the unfolding opportunities and, in the process, generating jobs and providing incomes for our citizens.” mains on course for significant growth this year and in 2023, despite the existing global economic conditions, according to the World Bank in a report titled, Global Economic Prospects. The country’s economy is projected to grow 47.9 per cent in 2022 and 34.2 per cent next year. * Guyana, though not exempt from the effects of the COVID-19 pandemic, has managed to overcome the challenges that accompany this dreaded malady, recording the highest cu-

mulative economic growth in the Caribbean and Latin American region, according to the World Bank. Having considered the economic performance of countries during the period 2019-2021, the World Bank determined that Guyana recorded cumulative economic growth of 72.03 per cent. * Even as countries the world over continue to grapple with the effects of the COVID-19 pandemic and the ongoing war in Ukraine, the economic prospects for Guyana remain positive at the close of the first quarter of 2022, according to

the International Monetary Fund (IMF). Guyana, though also being susceptible to the economic shocks that are affecting countries across the world, is positioned to maintain a positive economic standing because of its burgeoning oil and gas sector, and prudent fiscal planning. (Use pic saved as: IMF) * The first quarter of 2022 was a productive period for Guyana’s economy, which recorded positive economic growth on account of sustained production in the oil and gas sector, and positive output performances in the non-oil sectors.

Bank of Guyana: > Growth this year would “As oil and be primarily drivengas by the operationalisation of Exxactivities continued, onMobil’s second floating the non-oil production storageeconand offloading (FPSO) vessel, the omy experienced Liza Unity. In 2021, a total ofmoderate 42.7 milliongrowth barrels ofon oil were produced compared account of economic with 27.2 million in 2020. (Use pic savedregaining as: Unity) activities momentum > T h e r i c efrom g r o wthe ing sub-sector is set to expand full reopening of the by 25.1 per cent in 2022, reeconomy, coupled flecting a reversal of the 20.5 per cent decline observed with fiscal measures last year, largely on account to replanting alleviateefforts the rising of as well ascosts the introduction of new of production high-yielding varieties. (Use andas:services.” pic saved paddy)

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh: “The very creditable performance of the non-oil productive sector reflects the delicate and dynamic policy balance struck between aggressive containment of COVID-19 on the one hand and phased reopening of the economy on the other hand.” * The sugar growing sub-sector is projected to grow by 11.8 per cent, as the Guyana Sugar Corporation (GuySuCo) begins to recov-

er from the onslaught of the 2021 floods, with the aim of producing almost 65,000 tonnes of sugar. *The gold mining

one large operator, and the small and medium scale miners. *Bauxite, like many other productive sub-sectors which faced tremendous interruptions in 2021, is anticipated to recover in 2022 and grow by 25.4 per cent, with greater Continued on page 4A

Economy flourishes, ... From page 3A

output expected from both large operators. *The other mining and quarrying sub-sector – which includes sand, stone, and diamonds – is also pro-

jected to grow by 8.4 per cent. *Also in line for positive results this year is the construction sector, which will see heavy government in-

vestment in projects across all sectors coupled with major projects coming from private sector investment initiatives.

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Democracy prevails after arduous journey

Timeline of events: * In November 2018, former President and Leader of the Opposition, Bharrat Jagdeo, filed a motion of No-Confidence against the coalition government, citing massive corruption and an unemployment crisis. * On December 21, 2018, former Alliance for Change (AFC) back-bencher Charrandass Persaud voted in favour of the Opposition-sponsored motion against his government, toppling what would become a one-term Presidency for Brigadier (ret’d) David Granger. Persaud maintained that it was a vote of conscience. * That night, former Prime Minister, Moses Nagamootoo, led all the Government MPs, with the exception of Persaud, into an emergency meeting, where it was agreed that the debate on the motion was an open and transparent one and it must be recorded in Parliamentary democracy. At an urgent

press conference that night, the Prime Minister conceded that the APNU+AFC government was toppled by the motion. * The successful passage of the motion activated a section in the constitution which stipulated the need for fresh elections within three months. But that did not happen * On Christmas Eve, 2018, an interpretation for what constituted an “Absolute Majority” in the National Assembly was floated and later adopted by the coalition. The coalition argued that the PPP/C needed not one, but two extra votes for the motion to be successfully passed. The coalition proffered that half of 65 was 32.5, but since there could be no half vote, the figure would be rounded to 33. And, an absolute majority could only be garnered from 34 votes or more * From this point forward, a lengthy legal battle ensued and began at the High Court, where the Chief Justice (ag), Roxane

George ruled that the motion was validly passed. A dissatisfied APNU+AFC engaged the Court of Appeal and then the final appeal went to the Caribbean Court of Justice (CCJ), Guyana’s apex court * On July 18, 2019, the CCJ ruled that the No-Confidence motion was successfully passed and 33 was indeed the majority of 65. Charrandass’ dual citizenship status was also legally challenged, but the courts ruled that this did not affect his vote in favour of the motion * Elections were further delayed over the selection of the Chairperson of the Guyana Elections Commission (GECOM) when former President David Granger, unilaterally appointed Justice (ret’d) James Patterson. The PPP/C challenged his appointment all the way to the CCJ; the CCJ ruled that Mr. Granger did not have the power to make the unilateral appointment and so, Patterson had to vacate the office

* After many months of exchanging lists on a suitable candidate, Mr Granger and Mr Jagdeo finally agreed to appoint Justice (ret’d) Claudette Singh as the Chairperson, but GECOM then had to deal with the cleansing of the voters’ list and house-to-house registration. Probes into fake certificates and concerns were conducted as GECOM began preparations for the polls * By the end of September, March 2, 2020, was fixed as the date for Regional and General Elections. This meant that the Regional and General Elections would be held more than a year after the No-Confidence motion was passed, and just a few months shy of when elections were initially, constitutionally due. On December 30, 2019 Parliament was finally dissolved * Dr. Irfaan Ali, 40, a former Housing Minister was selected as the presidential can-

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SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Democracy prevails after ...

didate for the PPP/C on January 19, 2019 * On March 2, just about a week after Guyana commemorated its 50th Republic Anniversary, citizens went to the polls. At the end of that day, the elections were hailed as “free, fair and transparent” * Before the next morning, the PPP/C completed its internal tabulations using their Statements of Poll (SOPs) from 2,339 polling stations. Throughout the official tabulation, the figures matched the SOPs and the party was poised to win the elections after the tabulation of Guyana’s largest voting region- Region Four. It seemed as though it would take a miracle for the APNU+AFC coalition to return to government. * Clairmont Mingo, the Returning Officer for Region Four fell ill, stalling the tabulation of the region. His replacement also fell ill, and before long, it was night and the tabulation was stalled until the next morning. When the tabulation resumed, figures that did not match the SOPs secured by the PPP/C, were called out by GECOM; these inflated the votes garnered by the coalition and showed them coming back from certain defeat * After a thinly-veiled threat to revoke accreditation

by the other parties. Something seemed amiss * The International Community made it clear that the Mingo’s results were not credible and would not be accepted. And Chairperson of the Caribbean Community (CARICOM) and Prime Minister of Barbados, Mia Mottley came to Guyana with a team of CARICOM Ministers in an attempt to mediate between Mr Jagdeo and Mr Granger. This is when the agreement for a full recount of all votes cast in all ten regions was reached between the PPP/C and the APNU+AFC. But then, Guyana started to record cases of the deadly COVID-19 * This recount, though demanding patience from all parties, was seen as a credible solution to the entire process, as claims of irregularities emerged in other regions. A private citizen, Ulita Grace Moore, was

PNC activist, Carol Joseph; PNCR Chair and former minister, Volda Lawrence, and Returning Officer for Region Four, Clairmont Mingo at the Georgetown Magistrates’ Court in October

and one bomb scare later, Mingo read out the figures which indicated a coalition victory, and another one-seat majority in the National Assembly. * Immediately, an injunction, supported by the PPP/C was filed, blocking the swearing in of President Granger for his second term. This began the second round of court action. Chief Justice George annulled the results of Region Four and ruled that a partial recount should take place, verifying the results of the contentious region * This recount, dubbed the Spreadsheet edition, saw the tabulation resuming in the presence of party agents and observers. The twist was that Mingo read results directly from a spreadsheet, which did not match the SOPs gathered

not pleased though; she filed for an injunction (yes, another injunction) blocking the national recount. As this matter engaged the judicial system, time passed by. And while the rest of the world battled COVID-19, Guyana was dealing with an electoral epidemic within the pandemic * About two months later, on May 6, the national recount finally got underway, with COVID-19 precautions in place. CARICOM sent a three-member team to scrutinise the recount. But as the 34day recount went on, claims of dead voters, migrant voters and electoral fraud were highlighted by the coalition, but there was nothing substantial to invalidate the elections. A month later, the recount was completed and yes,

it showed a PPP/C victory * However, the Chief Elections Officer (CEO), Keith Lowenfield, in his first elections report, stated that he could

Justice (ret’d) James Patterson takes the Oath of Office in October 2017 before former President David Granger at State House

From page 4A

Guyana, in May 2022, commenced its first round of public consultations on the draft amendments to electoral laws. The draft legislation is highly anticipated because of the protracted national and regional elections of 2020 *Investigations will soon commence into the March 2, 2020, general and regional elections, as President Ali has announced the names of the persons who will constitute a Commission of Inquiry (CoI) for the elections inquest. The President, in June 2022, announced that

Barbados PM, Mia Mottley with CARICOM heads of government during a visit to attempt to mediate between the political leaders during the electoral crisis Returning Officer of Region Four, Clairmont Mingo, allegedly fell ill during the processing of information from the SOPs

not determine the credibility of all votes. As such, he invalidated thousands of votes, giving the APNU+AFC a victory. Another private citizen, Eslyn David challenged the credibility of the recount. It was back into the courts again – albeit COVID-19 style – while “fresh elections” became the new clamour * On June 22, 2020, the CCJ invalidated Lowenfield’s move to discard votes, and elucidated what constituted a “valid” vote. There was no other conceivable avenue that could be pursued to stall the swearing in of the PPP/C Presidential candidate yet, Lowenfield found one. He either submitted the incorrect elections report (that is, not based on the national recount) or just outrightly did not submit a report to GECOM so that a winner could have been declared. Somewhere in between visa sanctions, growing tensions and ever-increasing COVID-19 cases, Misenga Jones approached the courts aiming to deter the swearing in of a PPP/C government. The phrase “Res Judicata” was introduced; it meant that matters that were already adjudicated may not be pursued further by the same parties * The Court of Appeal then ruled on Jones’ petition and determined the recount was legitimate and should be used to declare the winner of the elections. Furthermore,

it was highlighted that the CEO’s actions should not stall the declaration any longer as he was not a “lone ranger” * The declaration of Dr. Irfaan Ali as the ninth Executive President of Guyana and his swearing in happened in one swift motion on August 2, following more than a year of delays manifested by the

APNU+AFC coalition * Subsequently, Chairperson of the People’s National Congress Reform (PNCR), Volda Lawrence; Chief Elections Officer, Keith Lowenfield; Region Four Returning Officer, Clairmont Mingo, APNU+AFC activist from Region Five, Carol Joseph; Deputy Chief Elections Officer, Roxanne Myers, were all charged with electoral fraud. Their cases are still pending in the courts *The Government of

the CoI will be chaired by retired Justice of Appeal, Stanley John, and will include former Attorney-General, High Court judge and acting Justice of Appeal in the Eastern Caribbean, Godfrey P. Smith, S.C.; Former Chair and Chief Elections Commissioner of India, Dr. S.Y. Quraishi, and, Former Chancellor of the Judiciary (ag), Carl Singh OR CCH.

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Agriculture sector records massive advancement in two years — with billions of dollars in investments

GUYANA continues to make critical investments in order to cement its place as the bread basket of the Caribbean. The country has been making major investments in agriculture from the private sector and government levels, with some $22 billion allocated to agriculture in the 2022 national budget. And the investment has been yielding results. Below is a snapshot of agriculture developments in Guyana: * Flood Response: Billions of dollars were disbursed in the form of cash grants to help farmers recover from the damning effects of the 2021 floods. * Approximately $1 billion is being spent to purchase equipment needed to enhance flood protection systems in the country. Mobile pumps are being procured to be placed at strategic locations in floodprone areas. * Earthmoving equipment

President, Dr. Irfaan Ali: “The envisaged transformation of the local agriculture sector will involve an inclusive approach, which will include the active participation of the government and the private sector, and continued engagements with farmers, agriculturalists, agronomists, veterinarians, food exporters, importers, academia, the scientific community and other stakeholders.”

Agriculture Minister Zulfikar Mustapha: “Our vision for the agriculture sector is to have a competitive, dynamic, diversified and environmentally sustainable agri-food system by 2025. To achieve this vision, the agriculture and food systems sector in Guyana must be repositioned and transformed. Transforming the agri-food system will require significantly greater public financing as well as private capital from national, regional and international partners. International support, institutions, and bilateral partners will be critical to ensuring a more resilient agricultural sector through financing, technology and creating an enabling environment.”

such as long and short boom excavators, mini excavators, and bulldozers are also being purchased to aid in accelerating the runoff of water on the land. * Approximately $350 million is earmarked to build a new dam on the north-eastern side of the East Demerara Water Conservancy. This will provide further protection and reduce the risk of flooding for over 300,000 residents. * Major outfall channels are being constructed in Regions Three, Five, and Six. These are being designed to replicate the Northern Relief Channel at Hope/Dochfour, East Coast Demerara, which was conceptualised and constructed by the PPP/C administration before demitting office in 2015. Had it not been for the Northern Relief Channel, the majority of villages along the coastland in Region Four and Georgetown would have been devastated by Continued on page 8A

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Agriculture sector records massive... From page 7A

the 2021 floods. * Increase in Farmers’ Market: An initiative whereby farmers can showcase and sell their produce directly to consumers, in large quantity and receive higher sales, and have access to a ready market. * Increase in brackish water shrimp and Fisheries: An over $50 million intervention by the government resulted in a 175

per cent increase in brackish water shrimp production in the first quarter of 2022 compared to the first quarter of 2021. A total of 127,400 kg of shrimp was produced during the period January to March 2022 at an estimated value of approximately $153 million. The first-ever government-sponsored shrimp production project was launched in 2021 in Region Six, where 99 per cent of the

shrimp farms are located, with the aim of doubling the country’s production of brackish water shrimp from 250,000 to 500,000 kilograms, thereby improving food security, livelihoods, and employment. * A $6 million Anna Regina Fish Station: works commenced to construct a concrete fish pond, shed, and fish tanks.

* US$ 26,847,246 worth of paddy, rice and rice products were exported in the first quarter of the year, with a new high yielding variety, GRDB16, with a potential of nine tonnes per hectare, with improved management practices being released. * Capital projects in 2021 for the development in the rice sector included construction of drying floors in Regions Two and Three. Construction of drying floors in Regions Four and Five are 95 per cent and 50 per cent completed, respectively.

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Agriculture sector records massive...

From page 8A

* Coconut seedlings production has increased from 4,950 in the year 2020 to 33,613 in 2021. This is expected to further increase to 55,000 this year. For this year, Guyana’s coconut industry is projected to increase by 1,000 acres. However, as of the end of April 2022, the sector has realised a growth of 391 acres which is equivalent to 39 per cent of the target. In addition, 72 new coconut farmers have joined the industry. * Guyana earned approximately G$2.5 billion from the exportation of coconut and its byproducts. Exportation from dried coconut alone generated G$1.8 billion while the exportation of virgin coconut oil raked in G$685 million. * Projection for the increase of 1,000 acres nationally for 2021 was surpassed by 105 per cent. The coconut industry expanded by 2,005 acres during this period, with an additional 117 new farmers coming on board.

NAREI * $15.8 million for the acquisition of shade house materials and sprinkler hoses. Community seedling nurseries were established to produce 40,000 seedlings. * Planting of mangrove at Aberdeen/Colombia, Essequibo Coast, Region Two. Quinoa Cultivation: A committee comprising of NAREI, UG and the Quinoa Growers of Guyana has evaluated ten accessions of Quinoa in Guyana to determine its production and productivity. The committee will be acquiring new germplasm materials early next year, which will be suitable for Guyana’s ecological zone. * Cassava trials were done in regions Four and Three for five improved sweet cassava varieties. The data acquired has assisted NAREI in improving agronomic practices for the commodity to improve production. * Black pepper: In 2021, 5,214 cuttings were generated. Of the amount, 2,179 were distributed to farmers in Regions One, Four, and 10. In addition, 13 acres of gliricidia standards were planted which will be used for trailing black pepper veins. In 2022, the Unit will be expanding the cultivation by six acres in Regions One and 10. 43,770 seeds (vegetables and orchard) were produced, 195,121 seedlings were distributed. * Construction of approximately 100 shade houses * At Ebini, nine horticultural crops -Breadfruit, Citrus, Passion fruit, Cherry, Saijan, Star fruit, Pomegranate, Sapodilla, and Pond apple) were introduced to add to the existing gene pool. * Corn varietal trials were conducted at Parika Backdam with three local and one Belizean variety. Production levels varied from 1650 to 2950 kg/ha.

GLDA * Introduction of Livestock Information System - 155 tablets (five rugged and 150 ordinary tablets) were imported and offline and online systems for livestock data collection are presently being tested. * Introduction of a hybridized breeding programme to boost the swine industry. Procurement of 19 breeding pigs, two L-Line breeding boars, 12 A-Line breeding sows, and three terminal breeding boars * Expansion of the Artificial Insemination Programme to sheep and goat producers. One laparoscope and one semen analyzer, seven breeding rand, two breeding Does were imported to enhance the agency’s capacity to provide this service. * Procurement of one all-in-one chicken incubator and hatchery for the hatching of black giant chicken. * Procurement and importation of three breeding bulls, two new breeds (Red Brahman and Charolais) being introduced.

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SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Soaring revenues, stringent safeguards in oil and gas sector

WITH estimated reserves of over 11 billion barrels of recoverable oil and gas resources, Guyana holds the potential to grow significantly over the next few years, especially with prudent fiscal management and economic diversification. Below are some of the major developments in this sector and accompanying policies instituted by the government over the past two years: * ExxonMobil has four sanctioned projects offshore Guyana. Of those, Liza Phase One is producing approximately 130,000 barrels per day, using the Liza Destiny floating production storage and offloading (FPSO) vessel, while the Liza Phase Two is steadily ramping up to its capacity of 220,000 barrels per day, using the Liza Unity FPSO vessel. (Use pic saved as: Liza and Liza 1) * The third project, Payara, is expected to produce 220,000

barrels per day; construction of its production vessel, the Prosperity FPSO, is running approximately five months ahead of schedule, with start-up likely before year-end 2023. * The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the One Guyana FPSO comes on stream in 2025. * ExxonMobil is also moving ahead with plans for its fifth development project in the Stabroek Block, Uaru, which

is expected to produce up to 250,000 barrels of oil per day. * ExxonMobil has made 33 lucrative discoveries at the Stabroek Block, which measures about 6.6 million acres. The latest of those discoveries were made recently at the Seabob-1 and Kiru-Kiru exploration wells. Those wells were drilled by the Stena Caron drill ship and the Stena DrillMAX. * Through the existing and potential ExxonMobil projects, Guyana is expected to

President of ExxonMobil’s Upstream Company, Liam Mallon: “ExxonMobil and its partners continue to accelerate exploration, development and production activities for the benefit of all stakeholders, including the people of Guyana. The resources we are investing in and discovering offshore Guyana will provide safe, secure energy for global markets for decades to come.”

earn US$3.6 billion annually by 2030, according to Rystad Energy. * To ensure that there is transparency in the management of oil resources ahead of the impending developments,

President Ali, in January 2022, signed into law the Natural Resource Fund (Amendments) Bill 2021, which replaces the Natural Resource Fund bill that was passed under the A Partnership for National Unity + Alliance For Change (AP-

President of ExxonMobil Guyana, Alistair Routledge: “These projects will bring huge benefits to Guyana.”

NU+AFC) administration, that was already toppled by the successful passage of a no-confidence motion in 2018. * The new law dramatically reduced the powers of the minister; added a board of directors; made it compulsory for Parliament to approve spending; added a provision that every receipt must be published

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SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

Soaring revenues, stringent... From page 10A

in the Official Gazette, and be reported to the National Assembly, among other measures to add extra layers of security. * Following “constructive” discussions with the Govern-

ment of Guyana, CGX Energy Inc. had announced that, together with its joint venture partner, Frontera Energy Corporation, the company will be focusing exclusively on the exploration opportunities in the Corentyne Block, offshore Guyana. * In February 2022, CGX, less than two months after encountering hydrocarbons at the Kawa-1 well in the Corentyne Block, announced that its drilling campaign had produced

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greater results. The company announced that the Kawa-1 well encountered approximately 177 feet (54 metres) of hydrocarbon-bearing reservoirs within Maastrichtian, Campanian and Santonian horizons based on initial evaluation of

Logging While Drilling (LWD) data. * Owing to the results of the Kawa-1 exploration, CGX Energy Inc. related that it will continue to integrate its findings from the Kawa-1 well into preparations for its second exploration well called Wei-1, to be spud in the third quarter of 2022. * Considering the ongoing and impending developments, the government, in an effort to

Minister of Natural Resources, Vickram Bharrat: “This legislation is a way of moving our developmental agenda forward. We believe that Guyanese must benefit from this new sector. We might not have the knowledge and requisite skills now, but I am sure that, in years to come, and with the programmes that the government is putting in place, both in the human resource capacity as well as the capacity in our local private sector, Guyanese will be able to play a meaningful role in the oil and gas sector and bring true benefits to the country.”

ensure that local participation in the oil and gas sector increases and advances, enacted the local content legislation. This paved the way for the creation of a Local Content Secretariat which governs a Local Content Registry.

President, Dr. Irfaan Ali: “Guyana is now poised to be one of the wealthiest countries in the hemisphere; we intend to employ the gains from exploiting these deposits into initiatives geared at expanding the economy, improving competitiveness, giving people the best social services, increasing productivity, enhancing food production, and building new sectors.”

* As outlined by various authorities, the registers will be used as a way to bring together local expertise, human capital and businesses, including those operating in the oil and gas sector. The registers are currently

Vice-President, Dr. Bharrat Jagdeo: “… we have to spend the money to build the future, that is why we have made it clear in our manifesto, when we campaigned between 2015 and 2020, that money will be spent on education, healthcare, infrastructure and assistance to non-oil industries.”

available and accessible online via the Ministry of Natural Resources’ website. * Up to April 2022, it was reported that Guyanese businesses benefitted immensely from the operations

of ExxonMobil, with over 800 companies absorbing more than US$600 million (roughly G$125 billion) in expenditures from the oil giant between 2015 and now.

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SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

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$5B invested, 11,000 jobs created

* MORE than $5B has been invested in the creation of some 11,000 part-time jobs in Regions Two, Three, Five, Six and 10; * These jobs are geared at supplementing incomes at the household level to cushion the rise in the cost of living caused by the COVID-19 pandemic; * Some 2,000 part-time jobs have been allocated in Region Two; 2,000 in Region Three; 2,000 in Region Five; 4,000 in Region Six and 1,000 in Region 10; * Under the part-time jobs programme, persons are placed at government offices, departments and agencies and earn $40,000 per month for 10 days of work; * The government has exceeded its initial target to create 10,000 such jobs across the country; * The jobs are not tem-

porary but are part-time employment. Contracts are for one year and, on expiration, they can be renewed and the extension could go on for an indefinite period; * Vice-President, Dr Bharrat Jagdeo, has urged the recruits to take their work seriously, serve their community earnestly and strive to elevate themselves by registering for the GOAL scholarship initiative if they have not yet done so. * He noted that poor policies under the former APNU+AFC administration had resulted in contraction of several productive sectors, causing the loss of some 35,000 jobs. * Another 35,000 jobs were lost when the Coalition Government shut down the country on the advent of COVID-19. * In tackling this situa-

tion, the PPP/C Government employed a dual strategy: It reopened the economy and placed emphasis on containing the virus through vaccination, social distancing and the washing of hands. * Prudent management of COVID-19 and the economy has seen Guyana emerge from the pandemic with a lower death rate compared to many developed countries, and an economy that is unrivalled in this part of the world. * Since assuming office in 2020, Guyana has seen an influx of investors, particularly in Regions Three and Four. Thousands of jobs have been created. * Along with the parttime jobs and other largescale government projects in the making, these will put the government on track to Continued on page 15A

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

(Office of the Vice-President photo)

“This programme is not free money, you have to work for 10 days and I hope you give your very best wherever you are placed… we want to place you closer to home and you can serve in your community as far as possible; whether you help out at a police station or a school or in a health clinic or some other government office that you will be placed,”— Vice-President, Dr Bharrat Jagdeo

DPI photo

“From there, they can motivate themselves in doing other stuff, they can further their studies in doing whatever job they get. So, it would be good to majority of people because they have a lot of mothers that be at home all the time not doing anything,” – Tamika Williams, Region 10

DPI photo

“In my community where I live there are lots of people without jobs and this here is good for people. I live in Kwakwani around 20 years now; I apply for jobs all over the place and I am not getting nothing. Application at forestry, everywhere in Kwakwani I sent application and I am not getting through with nothing, so I just come to take opportunity to see how far I can get in this thing,” Darvil Dequoy, Kwakwani, Region 10

$5B invested, 11,000 jobs...

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achieve its 2020 manifesto promise to create some 50,000 jobs by 2025. * The government has been hard at work since assuming office less than two years ago to deliver on the promises it made to the people of Guyana; * The children’s cash grant that was stopped by the

former APNU+AFC Government has been restored and increased from $10,000 to $25,000; * This grant has since been extended to learners in private schools, and there is a promise to further increase it to $50,000 by 2025; * The children’s school uniform vouchers have also

“I am a mother of two from Pine Ground. I am from Wales, but I married and came in here. My husband is employed at the government pumping station, but the cost of living raise so high that the little bit money he works for can barely make ends meet. The part-time job is really something good. I am happy for the opportunity because you’re at home all the time and when you finish your work, you have nothing else to do, so at least you come out, and when the month reach, you have some money to collect. You don’t have to depend on your husband money alone to make ends meet because things very hard now,” Roneka Ram, Mahaicony, Region Five (Carl Croker photo)

been increased from $2,500 to $5,000; * Old age pension has been increased by 40 per cent; * Some 20,000 scholarships have been made available to Guyanese, and this number could increase to 50,000; * The end-of-year bonus

“I am a mother of four. My husband does boat work. I am usually at home. He alone works; sometimes he gets work and sometimes he doesn’t. I am happy about the part-time work; at least you can come out and work and get something. It’s a one-year job. I feel so good about it; that I can support my husband,” Nandodrie Mangru of Pine Ground (Carl Croker photo)

for the Joint Services has been restored; * VAT has been removed from water, electricity, machinery and agricultural inputs, among others; * Unjust D&I charges have been resolved and concessions have been granted to miners to make their operations more profitable;

From page 14A

* Corporate tax on health care and education has been removed; * More than 11,000 house lots have been distributed thus far and the government is now helping persons with private lands, who do not have the capital, to build their homes; * Education at the Uni-

Residents turned up in full numbers at the Paradise Community Centre, Region Five, to sign up for the government’s part-time jobs (Office of the Vice-President photo)

versity of Guyana is expected to be made free before 2025; * 1,000 homes will be built in Linden and electricity costs are expected to be reduced by 50 per cent by 2025, with the coming on stream of the Wales gas-toshore project and other major energy projects

Region Two residents at the Affiance Play Ground, where they visited to sign their oneyear contracts (Office of the Vice-President photo)

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Conducive business environment attracts local and foreign investors

STEERED by efforts of the Government of Guyana to create an environment that is conducive to busi-

ness, Guyana’s economy is on course to becoming an economic powerhouse, with investors, both foreign and local, already positioning themselves to benefit from the bounties and inspire local growth. President Dr. Irfaan Ali: “Our development is about

creating a broad platform for the future; a platform in which we are going to strengthen traditional sectors,

make them more competitive… We’re going to go after new sectors.” * A consortium which includes ZRN Investment Inc., HADI’S World Incorporated, and National Hardware Guyana Limited is constructing a US$300 Million Vreed-enHoop shore-based facility,

which is expected to play a major role in transforming Region Three (Essequibo Islands-West Demerara) into a major player in Guyana’s oil-and-gas sector * Works are underway to construct a US$45 million (approximately G$9.3 billion) Pasha Global hotel; a US$45 million AC Hotels Marriott in the vicinity of Ogle on the East Coast of Demerara; a G$4 billion

Courtyard Marriott Hotel; the US$35Million (approximately G$7.3 billion) Four Points by Sheraton–Marriott Hotel at Houston; a US$15 million Aiden by Best Western Hotel at Oronoque Streets, Georgetown, and the US$25 million “Royal Orchid” Hotel and Mall on Mandela Avenue, among others *The new US$100 million Pegasus Suites and Corporate Centre in Kingston,

opened its doors in July this year *A over G$300 million hardware and variety store, was officially opened in July this year, at Enmore Estate Road *National Hardware Limited (NHL) opened the doors of its G$400M ‘DO IT BEST’ Super Store at its Ruimveldt, Industrial Site location, Georgetown * DCSN Manufactur-

ing Inc., a subsidiary of S. Jagmohan Construction and General Supplies Inc., commissioned its G$237 million concrete batching plant at Little Diamond, East Bank Demerara * In recognising that construction material is anticipated to be in high demand as Guyana continues its economic ascension and infrastructural transformation, Continued on page 17A

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Conducive business environment...

From page 16A

investor, Caribbean Concrete Guyana Limited, is positioning itself to absorb the potential opportunities through the establishment of a US$2 million (approximately G$400M) concrete production facility in Linden. (Use pic saved as: Plant) * Guyanese, instead of relying solely on foreign-made milk, will soon be able to break the seal of a locally produced bottle of Mahaica Dairy Milk –- the premier brand of the Amaya Milk

Company. The new G$150 million project will see cattle farmers in Regions Five and Six earning roughly $75 million every month.

International Interest * Guyana has become the United Kingdom (UK)’s largest trading partner in the

Caribbean, after trade between the two nations in 2021 amounted to 516 million pounds, and accounted for 21.6 per cent of all the UK’s

trade with the Caribbean * Over 60 US companies, interested in investing in Guyana, attended a webinar titled “Oil and Gas Oppor-

tunities in Guyana,” hosted by the U.S. Department of Commerce’s International Trade Administration and the U.S Embassy in Guyana * A 65-member delegation from Saudi Arabia visited Guyana recently to explore opportunities for investment * An investment team from Dubai, one of the wealthiest cities in the world, visited Guyana last week to discuss a wide range of opportunities, particularly those in the agricultural sector Continued on page 23A

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Equipping Guyanese to participate in economic development

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— through investments in education, training and capacity building initiatives

INVESTMENTS in education, technical and vocational programmes and other capacity building initiatives have been a priority for the People’s Progressive Party/Civic (PPP/C) administration over the past two years. * In fulfilling its manifesto promise, the Government of Guyana reintroduced the “Because We Care” cash grant, and uniform and supplies grant. The programme, which was discontinued by the former APNU+AFC government, now benefits both public and private school learners. The total assistance is $30,000. * Minister of Education, Priya Manickchand, has dubbed the 2020/2021 academic year one of the hardest, if not the hardest, year for the delivery of education in Guyana. Children accustomed to sitting in classrooms and benefitting from instruction and attention were forced to sit behind screens- whether phones, tablets or laptops because of the COVID-19 pandemic. * Efforts were made to expand the Guyana Learning Channel into rural and hinterland communities so that learners could benefit from educational content that was being created, just so children could be engaged similar to how they were in schools. * Through a phased and prudent approach, the government was able to fully re-open schools and allow children to return to a physical classroom setting * “Operation Recovery” was initiated as part of a number of measures being implemented by the Ministry of Education to address the issue of school dropouts, which has affected countries all across the world due to the COVID-19 pandemic which has disrupted education delivery for almost two years now, and caused

Education Minister Priya Manickchand: “Our reopening is very consistent with how the world behaved during the pandemic. We had to be resolute, close our minds to the noise [from opposition members] and do what was best for our children.” prolonged school closures. * To address the enduring challenges- including geographical challenges and the limited access to technology- a Deputy Chief Education Officer with responsibility for Amerindian and Hinterland Education Development was appointed. * The government has allocated G$74.4 billion to the education sector in the 2022 budget and among the initiatives it will cover is the increase in grants for

* G$295.7 million has been set aside to purchase laptops and other devices for 425 teachers * Some G$1.2 billion was allocated for the purchase of textbooks for public school learners, over G$20 million for the purchase of 2,000 micro-science kits, G$3.5 billion for the University of Guyana (UG), G$2 billion for the National School Feeding Programme, which will benefit a total of 85,773 learners across 902 nursery and primary schools,

Education Minister Priya Manickchand: “An education system that delivers a modern, model, and adaptive learning experience is an imperative to realising His Excellency’s vision of a world-class education for all. Improved access, quality, and relevance are essential to raising Guyana’s human capital to the levels needed to advance and sustain the imminent transformative economic and social development.” school children, laptops for teachers, the expansion of the National School Feeding Programme and the cost of 4,500 GOAL scholarships

and G$6.6 billion for the construction, rehabilitation, extension, and maintenance of educational facilities. * Construction works will be undertaken at the the Hydronie, Haslington and Vryheid Lust Nursery Schools, and the Bamia/ Amelia’s Ward, Kaikan, Karabairu, Zeelugt and Oronoque Primary Schools. * Dormitories will be built at the Kato and the Linden Technical Institute (LTI) and there will be the construction of several science and information technology laboratories, smart classrooms and the mainte-

Public Affairs Minister Kwame McCoy: “It is by educating our people, educating our children, our country will be able to benefit from their education and we will be able to accelerate the pace of development to move forward very quickly and swiftly, in implementing our infrastructural programmes that are necessary for the social and economic advancement of our country.” nance of other educational facilities. * Over $3.6 billion has been budgeted for the development of various areas

in TVET, while measures for learners with special education needs include the creation of a national autistic classroom. Further,

the Education Ministry has over 2,200 teachers who are trained to provide appropriate instructions to such learners. * The Ministry of Education has commenced a series of consultations with stakeholders in the education sector to assess the development of the sector and conceptualise recommendations to enhance its transformation. * The need for trained teachers to obtain a release from the Ministry of Education to pursue a Bachelor’s Degree in Education at the University of Guyana will no longer be required starting this September, Education Minister, Priya Manickchand said. GUYANA ONLINE ACADEMY OF LEARNING In 2022, some 4,500 persons will be given the opportunity to further their Continued on page 20A

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Equipping Guyanese to participate... From page 19A

education as part of the government’s overarching plan of awarding 20,000 scholarships in the first five-

to have access to a number of internationally-recognised institutions, such as the University of the West Indies Open Campus, the

Minister of Public Service, Sonia Parag: “I believe [GOAL] has been one of the best programmes ever implemented by any government in this part of the world, and perhaps even beyond. I don’t see how any sane person would be against something that represents positivity to this magnitude.”

year term. T h e g o v e r n m e n t ’s 20,000 Online scholarship programme is the brainchild of President Irfaan Ali; its rolling out marks the fulfilment of campaign promises made by the PPP/C, prior to the hosting of the March 2, 2020 General and Regional Elections. The initiative paves the way for Guyanese learners

University of the Southern Caribbean, the University of Applied Sciences in Germany, as well as the Indira Gandhi National Open University, the JAIN University, and the Sherlock Institute of India. At no cost to them, Guyanese applicants had the opportunity to choose from 104 available programmes

Policeman Emmanuel Rogers: “I’ve been following the GOAL programme for quite some time now, and it is something that I welcome. I think it’s very important for persons to take the scholarship programme seriously… it is very smart that the government could recognise the importance of an educated population, and that is why persons should come out and apply, like I am doing today.”

Guyana’s image rebuilt

SECOND ANNIVERSARY SUPPLEMENT, August 2, 2022

AN image once damaged by a slew of events that followed polling day on March 2, 2020, has been ‘pieced together’ through the strategic efforts of President Dr. Irfaan Ali and his government, on the global stage. The economic, political and social benefits that accrue to countries with a positive influence and image are immense, and range from increased exports and financing for critical projects, to support in matters concerning sovereignty and territorial integrity. At the centre of a good image, however, is democracy, an important element of governance that empowers the people of a nation and ensures that there are equal and equitable rights for all. Like a distorted image, the future of democracy in Guyana was blurred in 2020, when Guyanese and people the world over watched as this sacred tenet of society was threatened by the actions of the former A Partnership for National Unity and Alliance For Change (APNU+AFC) coalition administration in the aftermath of the March 2, 2020 general and regional elections. The electorate, after casting their votes, had to endure an unimaginable wait for the results of the elections, as they witnessed unlawful acts and a slew of legal challenges. In this time, the patience of the electorate was tested, as they observed an attempt by the then coalition administration to rip the democratic fabric of the nation with “delay tactics” which were openly criticised by a wide section of society. “We experienced a dark time when we were made to walk through a deep valley in which the shadow of autocracy at home, and ostracism from abroad hung over us. We escaped that awful fate because brave men and women of all races, ages, and political persuasion stood up to defend democracy, and to resist stolen elections and autocratic and illegitimate government,” President Ali of the party that emerged victorious at the elections, the People’s Progressive Party/ Civic (PPP/C), had said. Since its election to office in August 2, 2020, the government has spared no effort in trying to cement diplomatic partnerships and

President Irfaan Ali meets US Secretary of State, Antony Blinken (Office of the President photo)

ties that were threatened, and to establish Guyana as a democratic nation that is governed with the highest respect and regard for laws and regulations. It was predicted that it would take at least a generation to repair the damage inflicted on Guyana’s image during the five-month election period. Head of the Electoral Observer Mission of the Organisation of American States (OAS), Bruce Golding, had said: “Even if this debacle (elections) is soon and satisfactorily resolved, it will perhaps take a generation and significant institutional reform for that damage to be fully repaired. The people of Guyana did not deserve this.” However, in a little under two years, through the work of the government and other key stakeholders, Guyana is now a country that is respected and acknowledged for its economic potential and strategies, and one that, based on anecdotal evidence, is on the “places to visit” list of tourists and investors across the world. There seems to be no aspect of Guyana that is not attractive to world leaders, investors, celebrities and even ordinary visitors. Some 51,398 persons already visited the country in the first quarter of this year and based on information from the Guyana Tourism Authority (GTA), the arrival rates are expected to be 10 per cent more than the 158,347 arrivals recorded in 2021. There have been visits to Guyana by high-ranking officials of the United States, United Arab Emirates, CARICOM, Africa nations, and others. All of those visits have ended with commitments to strengthen bilateral ties in many areas. On the other hand, Guyana has been well-represented at various conferences across the world. Leading from the front, Guyana’s Head of State has been ev-

idently immersing himself in knowledge related to the challenges that affect countries the world over, and, together with his team, devising solutions and strategies to address those problems that are then shared with leaders at the highest levels of international governance. President Ali was present at the COP26 Conference of Parties to the UN Framework Convention on Climate Change in Glasgow, Scotland, EXPO 2020 in Dubai, and the annual reception of the London Caribbean Council at the House of Lords. He also attended Toronto’s Guyana Festival Committee Dinner; California’s ninth Americas Summit; Rwanda’s hosting of the Commonwealth Heads of Government Meeting; Suriname’s hosting of the Energy, Oil and Gas Summit and Exhibition; Barbados’ hosting of AGROFEST’22; and Suriname’s hosting of the 43rd CARICOM Conference of Heads of Government Meeting, among other prestigious events. Recently, travelling over 8,500 miles to and from the United States of America, President Ali attended several meetings along the way, selling the various Guyanese products. He met with a number of high-level American functionaries including United States Vice President, Kamla Harris; US Secretary of State Antony Blinken, and United States Deputy Secretary of Commerce, Don Greaves. At those engagements, the President affirmed Guyana’s position as it regards upholding democracy, outlined opportunities for investment here and shared the country’s strategies to enhance regional integration, address food security and reduce carbon emissions. Those presentations and the vested interest in the country’s development are enough to conclude that Guyana’s image has been rebuilt.

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Foundation for sustainable livelihoods, adequate housing being laid

THE importance of a house/property cannot be overstated, as it not only facilitates the creation of a home, but also acts as collateral, and creates room for innovation and other key economic benefits. Aware of the cumulative economic and welfare benefits of a house or land, the Ministry of Housing and Water has, over the past two years, invested billions of dollars to enhance local infrastructure. Guided by a coordinated plan which is intended to enhance the lives of every Guyanese, the Housing Ministry has been fanning the country and spreading the benefits in almost every community. * In 2021, the govern-

ment had allocated G$12 billion for infrastructure development in 22 new and existing housing schemes. * In order to encourage construction, the government removed value-added tax (VAT) from construction materials including sand, stone, concrete blocks, and lumber, while the threshold for low-income loans was increased from G$8 million to G$12 million, and the low-income loan ceiling at the New Building Society increased from G$12 million to G$15 million. * Additionally, the Mortgage Interest Relief threshold increased from G$15 million to G$30 million, while the Housing Ministry introduced the Single Window Processing System for

planning permits along with the Amendment of Condominium (Regulation and Miscellaneous Provisions) Act is ongoing to allow owners’ access to Certificate of Titles, insurance and loans. * Interest rate for houses and buildings up to $9M has been reduced to 3.8 per cent. * For homes that cost $6M or less, builders will get steel needed for construction and one sling of cement. * For homes that cost $6M to $25M, the government will provide two slings of cement. * A home construction assistance programme was implemented. Through the programme applicants can select from three pre-de-

Minister of Housing and Water, Collin Croal: “Our goal as a government is to ensure that all of our citizens have proper access to housing. We understand the many difficulties that you encounter and this programme provides an avenue to bridge that gap. Since the return of this PPP/C Government, we have re-energised the housing and construction sectors through the introduction of bold and aggressive homeownership; ownership initiatives that have seen that at the policy level, and reduce the gaps for applications and even processing time, the establishment of new housing units, new housing developments across Guyana, and the upgrading of existing areas.”

signed housing models ($7 million, $9 million and $12 million) and pre-qualify for loans with financial institutions. Those on board include Republic Bank Limited-Guyana, Citizens Bank and the New Building Society. The houses will be built by contractors and monitored by engineers of the Central Housing and Planning Authority for quality control. * The government has been working strategically to achieve its Manifesto promise to provide 50,000 house lots by 2025. In less than two years, some 12,000 house lots have been allotted in Regions Two, Three, Four, Five, Six, Nine and 10. * President Dr. Irfaan Ali had announced the government’s plan to construct 1,000 homes in Region 10. * Additionally, another 1,000 housing units are being constructed by the Central Housing and Plan-

“Finding the capital to put down the foundation and then to find a contractor to do the work, are two of the major challenges that you have when building a home. For someone who doesn’t really have a proper contractor or the capital to start my own home, this programme is something I am driven to apply to.”

ning Authority (CH&PA) for low to moderate income earners, as well as young professionals. * The Housing Ministry plans to allocate an additional 5,000 new blocks in Great Diamond and Grove on the East Bank Demerara, at Meten-Meer-Zorg and Stewartville on the West Coast Demerara, and Non Pariel and Enterprise on the East Coast Demerara. * Some 1,200 units are currently under construction, and some 300 houses have already been handed over to families for occupancy. The ministry has also distributed over 300 titles and transports since taking office in 2020. * The government hosted a successful International Building Expo, which featured over 300 local, regional and international companies. During the four-day expo, over 5,000 house lots were allocated.

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Conducive business environment...

From page 17A

* Guyana and Ghana agreed to remove hindrances to business development. President, Dr. Irfaan Ali, said that the ensuing discussions at the governmental and private sector levels between Guyana and Ghana are aimed at bolstering bilateral relations and generating business-investment opportunities. * Successes and increased activities in Guyana’s oiland-gas sector and other key productive sectors have served as an impetus for foreign investors, who have

been injecting funds into the local economy through various projects. A reflection of the country’s performance and increased inflows is its capital account, which, according to the Bank of Guyana, recorded a surplus of US$1.7 billion in 2021. The surplus in 2021, the Central Bank said, is on account of higher inflows to the private sector in the form of Foreign Direct Investments (FDIs) of US$4.4 billion as well as the Special Drawing Rights (SDRs) allocation of US$247.4 million from the International Monetary Fund (IMF).

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