Gold miners must re-invest in Guyana- govt minister

Last Updated on Saturday, 26 December 2015, 21:01 by GxMedia

‘I want to call on persons especially within the mining sector who would enjoy some amount of liquidity to look at the options of investing in Guyana, to look at the options of expanding our economy,” said Ali at the opening of a three-in-one franchised fast food enterprise.

Several leading local gold miners were among the invitees at the opening of the business at Albert and Lamaha Streets, Georgetown.

Ali observed that of the GUY$32 billion earmarked for investment in the tourism sector, the Alphonso Group is investing GUY$40 million in the next three years in the sector.

The Alphonso Group plans to construct a mall and a hotel in the coming months. The group already owns a hotel, cooking oil factory and television station in Charity, Pomeroon.

So far, the three franchises- Papa Pete’s Pizzeria, Dixie Lee Fried Chicken and Miami Subs Grill- have created 90 jobs. Joe Merrano, President of Dixie Lee and Papa Pete’s franchises, announced that plans are in train to open other branches housing the three franchises together. “If this is successful, we are going to be doing more and more of them,” he said.

Officials said the overwhelming majority of ingredients and other raw materials, except unique seasoning, would be purchased locally.

The Tourism and Industry Minister also announced plans to transform the Atlantic shoreline along Georgetown, through an initiative called the Guyana Boardwalk Investment, “into its true economic value and economic wealth and the private sector must be the engine that will push this.”

He said Guyana still hoped to sign “very important” joint tourism marketing agreements with St. Lucia, Barbados, and St. Vincent and the Grenadines.