As Government continues to create and foster investment opportunities in the country to allow for job creation and economic growth, Finance Minister Dr. Ashni Singh was joined on Wednesday by several government ministers to turn the sod for the construction of a new US$32.2 million Hyatt Place Hotel at Providence on the East Bank of Demerara.
Minister of Tourism, Industry, and Commerce, Oneidge Walrond; Minister within the Office of the Prime Minister, Kwame McKoy; GO-Invest Chief Executive Officer (CEO), Dr. Peter Ramsaroop and officials of SIR Investments Guyana Inc., Imtiaz and Reyaz Ahamad also attended the sod-turning ceremony.
The new hotel which will comprise over 125 rooms is slated to be completed in 2024 and will create 300 jobs during its construction phase and another 70-80 permanent jobs afterward along with several part-time job opportunities for Guyanese. It is expected to be a four-star hotel targeting the needs of Guyana’s middle to upper-class corporate clientele and value-conscious business and leisure travelers.
The hotel is expected to increase economic activity at Providence where that part of the East Bank corridor is also targeted for the construction of the new Demerara River bridge while additional housing communities being established are nearby as well as several major businesses undergoing expansion.
Speaking at the sod-turning ceremony, Minister Singh complimented SIR Investments Guyana Inc. for recognizing Guyana’s tremendous potential as a destination for investment and re-emphasized the Government’s commitment to the continued fostering of economic growth and job creation.
Minister Singh also reminded that the Providence area had long before been cane fields prior to being vastly developed under the previous People’s Progressive Party/ Civic Government with housing schemes and other social services as well as various economic hubs.
As Government continues to create and foster investment opportunities in the country to allow for job creation and economic growth, Finance Minister Dr. Ashni Singh was joined on Wednesday by several government ministers to turn the sod for the construction of a new US$32.2 million Hyatt Place Hotel at Providence on the East Bank of Demerara.
Minister of Tourism, Industry, and Commerce, Oneidge Walrond; Minister within the Office of the Prime Minister, Kwame McKoy; GO-Invest Chief Executive Officer (CEO), Dr. Peter Ramsaroop and officials of SIR Investments Guyana Inc., Imtiaz and Reyaz Ahamad also attended the sod-turning ceremony.
The new hotel which will comprise over 125 rooms is slated to be completed in 2024 and will create 300 jobs during its construction phase and another 70-80 permanent jobs afterward along with several part-time job opportunities for Guyanese. It is expected to be a four-star hotel targeting the needs of Guyana’s middle to upper-class corporate clientele and value-conscious business and leisure travelers.
The hotel is expected to increase economic activity at Providence where that part of the East Bank corridor is also targeted for the construction of the new Demerara River bridge while additional housing communities being established are nearby as well as several major businesses undergoing expansion.
Speaking at the sod-turning ceremony, Minister Singh complimented SIR Investments Guyana Inc. for recognizing Guyana’s tremendous potential as a destination for investment and re-emphasized the Government’s commitment to the continued fostering of economic growth and job creation.
Minister Singh also reminded that the Providence area had long before been cane fields prior to being vastly developed under the previous People’s Progressive Party/ Civic Government with housing schemes and other social services as well as various economic hubs.
