With works on the US$100M expansion of the Pegasus Hotel forging ahead, Business Minister Dominic Gaskin believes the venture will inspire interest from foreign investors and spike competition within the local industry.
“As a government, we have been encouraging our local businesses to invest and we have been trying to attract foreign investments in Guyana. This is a show of confidence by a local investor and we would like this to be an example for other local investors,” Gaskin on Friday told reporters.
On Friday, proprietor Robert Badal facilitated a tour of the site and gave an update on works being undertaken. The project is expected to be completed by December 2020, with works having commenced in January. Three hundred employees will execute the works with 60% of that workforce made up of locals.
