GuySuCo would be a major investment opportunity- GO-Invest CEO


Chief Executive Officer (CEO) of the Guyana Office for Investment (GO-Invest), Owen Verway, on Monday said the agency would be offering potential investors more ready-to-invest projects in 2018, as opposed to just marketing ideas.

He was at the time speaking at the agency’s year-end press conference, where he outlined the challenges of, and accomplishments for, 2017, while providing a preview of 2018 plans.

To this end Verway indicated that GO-Invest is also in talks with the National Industrial and Commercial Investments Limited (NICIL) to have some of that agency’s assets packaged into investment opportunities.

Moreover, he noted that the Guyana Sugar Corporation (GuySuCo) would be a major investment opportunity when the diversification plan commences next year.

Head of the Special Purpose Unit (SPU) under NICIL, Colvin Heath-London had said in a media release that an International Financial Services Provider, which was to be announced this month, would be conducting the valuation of all assets related to the sugar estates up for privatisation and diversification, in addition to advisory, financial, and other related services.

The three international firms that met the October 30 deadline for submissions and made presentations are: PricewaterhouseCoopers, Ernst & Young, and Deloitte.

According to the GO-Invest CEO “there is a need to have more pipeline-ready projects, not just ideas. We have been marketing the opportunities, and we have started the process of having the Minister (of Finance) meeting with the other ministries in trying to go through their capital project plans to see what is it we can turn around, and see what we can make into real investment opportunities — whether it is public /private or people private.”

The CEO reported that, in 2017, the agency has been able to process some 120 investment agreements, and has observed over 46 applications for over 99,000 acres of commercial land.



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