Region Three Private Sector Inc Satisfied with Budget
The private sector at Region Three Inc. (R3PSInc) is extremely pleased with the sector investments outlined in the $553 billion PPP/C budget and is also impressed with the push for a low-carbon economy and the measures described to achieve this.
With the government’s intention to spend nearly 50% more than it spent in the 2021 budget, the R3PSInc recognizes much-needed areas of development in agriculture, education, infrastructure, health, social services and human resources.
We anticipate advancing the $21.1 billion construction of the new four-lane fixed bridge over the Demerara River, which will transform all aspects of business and development in Region Three.
The new bridge is part of the government’s drive to expand and upgrade Guyana’s transport infrastructure and will also provide essential connectivity to the New Wales Development Authority, which will be a major center of productive activity when commissioned. in service.
What can be considered Christmas in January and which is also very commendable are the government’s plans to provide more disposable income to people through increased cash grants and the abolition of taxes.
R3PSInc also notes the large investment of $47.9 billion set aside to ensure the restoration and preservation of law and order in Guyana with intelligence gathering and information sharing to improve force diagnostic skills of the order.
In addition, the investment of funds to accelerate the development of the gas-to-power project and the Amaila Falls hydroelectric project are to be commended.
These investments will unlock private sector transformation that encompasses greater value creation through light and heavy processing.
Moreover, the electrification of the interior is also commendable as it would reduce the disparity between rural and urban areas and pave the way for a robust digital future for indigenous peoples and rural communities, while the government’s initiative to to implement electric vehicle (EV) charging is excellent and sets an example for the transition to a more sustainable and environmentally friendly country.
Head of R3PS Inc