Investors warned to respect Guyana

Jul 22, 2022 News

– as sod turned for upscale Ogle hotel

Kaieteur News – As the sod was turned on Thursday for the construction of an upscale hotel on a 3.5 acre plot of land at Ogle on the East Coast of Demerara, investors were warned to respect Guyana.

President Irfaan Ali speaking to investors at the sod turning ceremony

Minister of Tourism, Industry and Commerce, Oneidge Walrond

John Aboud, Chairman of Triuayana Investment Inc.

The warning was made by President Irfaan Ali during his feature address at the sod turning ceremony for AC Hotels Marriott being built at Ogle by Trinuyana Investment Inc.

Trinuyana Investment Inc., is a company made up of Trindadian and Guyanese investors and the hotel they are seeking to build in Guyana is an upscale one with approximately 150 quality rooms to boost what Ali labelled as Guyana’s hospitality sector.

While addressing the gathering, he stressed on the importance of partnership, not only between the Guyanese and Trinidadian businessmen who make-up the company but also the partnership between the investors and Guyana.

Ali said, “A partnership in a country must be linked to the national development plans that go with that country. The partnership must be transparent, it must be reliable and trust worthy,”

He then continued by adding that the aspects he listed about a partnership is critical because, “The government is also a partner in this development. A partnership must have respect and not only respect for each other’s partners but respect for the country as well, respect for the culture, respect for the differences,” Ali told the investors during his speech.

President Irfaan Ali, Minister Oneidge Walrond, Triuayana’s John Aboud and GoInvest’s Peter Ramsaroop turning the sod for the AC Hotels Marriot and taking a sip of champagne to celebrate the occasion

The plot of land where the Hotel will be constructed.

Ali expounded a little more by saying, “You may not see the government putting any finances but you must be able to trust the government and the government must be able to trust you. You must not believe that tomorrow you will wake-up and the government will change its investment policy and the government must not wake-up tomorrow and hear that you have changed the investment. Respect and trust in a partnership is very important.”

The president also pointed out that respect in a partnership also means that all parties involved must come out as winners.

“We must enter a partnership in which we are looking for all the partners to win if you are looking to singularly win then don’t enter a partnership the only way a partnership will be successful is only when everyone is trying to win equally,” Ali said.

With that being said, the president welcomed the investment and proceeded to ritualistically turn the sod along with his Minister of Tourism Industry Commerce, Oneidge Walrond, Chief Executive Officer of GoInvest Guyana, Peter Ramsaroop and the Chairman of Trinuyana Investment Inc., Trinidadian businessman, John Aboud.

Aboud stated at the ceremony, that the hotel will be completed in 27 months and promised that 95 percent of the employees of the new hotel will be Guyanese.

Walrond said that the new hotel is part of government’s plan to transform Guyana and boost its hospitality sector with 2000 quality rooms by 2025.

The hotel will be constructed by China Harbour Engineering Company (CHEC).

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