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$800M budgeted to build Palmyra Cultural Market

Jan 19, 2025 News

Kaieteur News- Some $800M has been allocated in the 2025 budget to construct the Palmyra Cultural Market in Region Six.

Senior Minister within the Office of the President with responsibility for Finance and Public Service, Dr. Ashni Singh during his presentation of this year’s National Budget on Friday said that the project will be a rich educational and cultural hub to showcase the diversity and unity of “our people for families to enjoy and celebrate.”

Kaieteur News reported that the Ministry of Public Works went out to tender last year seeking proposals for the project.

Five companies, including two local firms, had submitted bids in October to the National Procurement and Tender Administration Board (NPTAB) to design, build, and finance (DBF) the cultural market at Palmyra.

Those bidders were Rockey & Son Construction, Hoosein Logistics & Supplies Inc., Ashoka in joint venture with Cube Construction, China CAMC Engineering Company Limited, and China Road & Bridge Corporation in joint venture with Qingjian Group Company Limited.

President Irfaan Ali announced the construction of the facility during the Emancipation celebration held at the New Amsterdam Technical Institute last year.

Quoted in a Department of Public Information (DPI) article, the President said, “As we build the new stadium, and as we build facilities around the stadium, and as we build hotels, an important part of why people will come to Region Six is to be part of this national cultural market.”

“This will be a symbol of the importance of culture in bridging gaps and bringing people together.  The importance of culture in economic and social revolution. The importance of culture in developing healthy lifestyle … [and] the importance of culture in celebrating the unity of our people and our country,” he added.

Kaieteur News understands that the planned cultural market project forms part of the $3.6 billion that is budgeted to support the ongoing development of culture and the arts in the country.

Speaking on Culture and Arts, the Senior Minister said that work has begun on the importance preparation of the design of a new state-of-the-art museum and art gallery for which $1B is allocated in 2025.

He added that pertaining to music and the performing arts, last year upgrades were done to the National Cultural Centre, Guyana’s premier venue for cultural events and activities, which resulted in 92 productions being accommodated.

“With support and investment from our government, Guyana’s music and performing arts industry has grown and, in 2024, over 360 persons were engaged in national events throughout the year. Further, we constructed a recording studio in Port Mourant which will be operationalised in the first quarter of 2025 and we will commence works on three additional studios in Regions 2, 3 and 10 to support artistes and subsidise the cost of recording music. To this end, the sum of $97.3 million is budgeted,” the Minister announced on Friday.

($800M budgeted to build Palmyra Cultural Market)

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