Finance Minister Winston Jordan says that the loss of a US$5m investment to Trinidad because the prospective Guyanese investor was given a runaround here must not be allowed to happen again.
He was referring to the case of St Lucia-based businessman Ronald Ramjattan who was reported in the last Sunday Stabroek as saying that he opted to make his investment in the Twin-Island Republic as the previous PPP/C government had not given him a favourable response.
Speaking at the launching of the Burger King franchise yesterday at the corner of Camp and Regent streets yesterday, Jordan said “We note, with disbelief and distress, the loss of a US$5 million investment to Trinidad and Tobago, by a world-renowned Guyanese businessman, whose only crime appeared to have been being the cousin of now Hon. Minister of Public Security, Khemraj Ramjattan.
“This must never be allowed to happen, again. All investors, whether foreign or local, must be treated equally and with respect. They must feel wanted, not because of their friendship with this or that Minister or other high-ranking official, but because of their worth, the risk they intend to take, and the addition to the wealth of the nation. And so, we are working overtime to remove these and other disincentives to investing in Guyana, and to make the climate more attractive, especially for local entrepreneurs and start-ups, as we go through this difficult period of transitioning our economy away from its dependence on sugar”.
He lauded the Corum Group for their investment in the franchise.
“The Corum Group, perhaps recognizing that Guyana is on the cusp of an exciting new phase of development, seems to have embarked on a journey that includes capitalizing on the myriad of gaps within the local food industry. It dawned upon me that it was only recently that you launched Pizza Hut; now, it is Burger King”, Jordan said, according to a copy of his remarks released by the Ministry of Finance.
