President of Guyana Dr. Irfaan Ali said he is happy that more Guyanese are coming to the fore to take advantage of the conducive business climate and see the need to create ownership as the country continues to progress. He made these remarks on Friday during the official Sod-Turning Ceremony of the Courtyard by Marriott, which will be built within the Cheddi Jagan International Airport (CJIA) compound at Timehri.
According to a media update from the Office of the President, Mr. Ali pointed out that this is the second U.S. branded hotel sod-turning ceremony in the last year and the second that is being pursued by a Guyanese family-oriented business. This, the President said, tells a story that the business culture is beginning to accept that the time has come to transition from family-owned businesses.
“I am happy that the Bassoo family again is playing a key role in this transition,” Mr. Ali said.
Since assuming office, the President has called on Guyanese family-owned businesses to form consortiums to benefit from the large-scale development that is expected over the next decade. He told them that they need to pool their resources together to be able to compete against international companies.
President Ali said that there has been major interest shown by investors in various projects in the vicinity of the airport.
“We have now more than 40 international investors that are knocking at our door for different investments in the airport. For a matter of fact, I must inform that airport authority is short of land to facilitate these investments. So not only are we seeing the realisation of a hotel, but we’re seeing the realisation of a new urban spread around the airport,” he said.
The area is also poised to become a major hospitality, leisure, and sports recreational area.“So, you will see government itself investing billions of dollars over the next five years in the catchment area.”
Roy Bassoo, Founder of Bassoo Construction, Cardinal Investments Inc said that the US$20M project will take 24 months to complete. He lauded President Ali as an “action-oriented President” who has delivered.
Courtyard by Marriott is a brand of hotel owned by Marriott International. In Timehri, the 140-room six-storey hotel will be designed for business travellers but will also accommodate travelling families.