New airlines, hotel developers among investors lined up for Guyana


A number of airlines and hotel developers are currently awaiting government approval to begin investing in Guyana – particularly the country’s aviation sector which is projected to drastically expand in the coming years due to the rich oil finds offshore.

This was revealed by Public Works Minister Juan Edghill, during his address to the newly installed Board Members of the Guyana Civil Aviation Authority (GCAA).

According to Edghill, the government has had discussions with the Canadian-based airline West Jet as well as Inter-Caribbean Airlines, which is based in Turks and Caicos.

Officials have also engaged and Fly Allways, a Suriname-based carrier.

“And by no means, should that be a full stop. Because we want the world visiting Guyana and we want Guyana visiting the world,” he explained.

In addition, he announced that there are hotel developers that want to enter Guyana’s market; there are also investors who want to build airstrips.

Minister Edghill noted that the new GCAA Board will play a key role in helping the government to make decisions on these proposals.

“Quite recently, someone came to see me about opening up an airstrip at Orealla. People would like to partner for the development of the airstrip at Linden. I’m outlining these things to you that in three short months, the movement of interest and level of involvement and development that people have indicated they want to participate in to modernize Guyana is immense.”

Meanwhile, Edghill reminded that the government had put out a Request for Proposals (RFP) for persons to construct hotels. According to him, they have received very promising proposals from two persons, with one of the proposals forwarded to Cheddi Jagan International Airport (CJIA) Chief Executive Officer Ramesh Ghir.

“Just a few days ago, the expression of interest and request for proposals for the building of hotels in Guyana closed. The intent is that we should have at least 2000 first class rooms. So that Guyana could become a convention destination.”

“My office has received two proposals that were submitted to the Ministry of Tourism, Industry and Commerce, where two of those persons have expressed interest in building hotels at the Timerhi International Airport. And I must tell you, I like what I see in those proposals,” Edghill further explained.

Since coming to office in August of this year, the government has been in receipt of proposals with respect to hotel development. It had therefore put out RFP’s in September inviting all persons with interest in that regard to submit or resubmit their proposals. It had been announced that the government was prepared to offer generous incentives for the development of the hotel and hospitality sector, including fiscal incentives.

In the RFPs, investors were expected to identify the project or land proposed for hotel development specifying size, location, and other details including ownership details such as transport, lease, and associated survey plan.

They were also required to detail all terms if the proposed land is to be obtained from the Government, including basis of valuation and terms of lease, sale, or lease with an option to buy. The RFP would have also dealt with both developers using private land or seeking Government land for development.

Investors were also mandated to provide evidence of financial capacity to fund such a project.