Bridging the gap – transforming Guyana

The government’s programme for housing development and home ownership has catered for every Guyanese across all racial and political divides, and has been an important achievement for the country to be proud of. For example, official records show that over the last three years, government has allocated more than 17,000 house lots. Also, it is expected that, in the East Bank area alone, there will be another 15,000 house lots ready in another two years; and by the end of this year, the ministry would have available 3,500 more house lots for distribution.

Under the theme, “Bridging the Gap and Transforming Guyana”, the Housing Ministry recently launched the country’s International Building Expo 2011. The exhibition, which will be staged at the National Stadium, Providence from July 29 to 31, is expected to attract many local, regional and international businesses involved in the building, construction and home-furnishing industries.

This is indeed another bold initiative undertaken by the ministry to bring businesses and consumers under ‘one roof’ to create opportunities for everyone, as businesses would flourish and consumers would have more choices in the market place. Further, as was the case in 2010, this year’s expo is expected to provide excellent opportunities for local businesses to create linkages with the major players, such as businesses in India, China, Canada, Brazil and other countries.

The high level of development the country is currently experiencing in the area of housing is an example of an excellent partnership between government and the private sector, and both parties should be commended for their efforts. The evidence will show that this public/private partnership has resulted in many families — including the poor and vulnerable — not only receiving their land titles, but also owning their own homes.

Further, it should be mentioned that the housing strategy that the government has undertaken will not only fulfill a social need, but would also greatly assist in the country’s economic development by creating thousands of job opportunities in the construction, forestry, sawmilling and other related sectors.

The idea of bringing consumers and businesses together is indeed an excellent one, and we are already witnessing the results of such useful interactions. As it was pointed out by the minister from the last building exposition (in 2010), to date, housing portfolios in the banking sector have grown 24 per cent.

Minister Ali said that when the idea of a building exposition was first conceived, the intention was to expose local consumers to the advantages and disadvantages of various products, and the availability of those products in the local market. But when the expo was advertised, it quickly outgrew that vision because of the response from regional companies. He said the regional companies wanted to enter the local market, “and in an open system like ours, we have to offer the opportunity for this kind of competition”.

Ali’s call therefore for private sector companies to ” get on the bus” is a timely and relevant one, considering that in a few years’ time, with the wave of new sectors that are projected to take off, it will become even more competitive to mobilise investment. “What we foresee is a tremendous burst of energy in the creation of the new sectors and the expansion of existing ones,” he said.

We are of the view that the administration has, no doubt, played its part by providing affordable lands and putting the necessary infrastructure in place, such as building roads and proper drainage, etc. Similarly, the relevant mechanisms were created to encourage the private sector to partner in the process by providing financial incentives for the local banks and private home developers, such as granting tax concessions, reducing tax rates on building materials, and so on. It is now up to all of us, including private investors, to take advantage of the many opportunities available in this ongoing process of ‘bridging the gap and transforming Guyana.’