Jagdeo on Tuesday unveiled a plaque signalling the beginning of the project, which is expected to be completed in two years.
“ I’m very pleased that MovieTowne has decided to come to Guyana,” the president said.
Noting the enormous reputation the business has in Trinidad, Jagdeo believes that MovieTowne’s formidable reputation for investing and raising standards is what is “ badly needed” in the country despite the tremendous progress the country has made.
“ But we still do have a gap where a lot of our people are looking for entertainment and good entertainment for their family and everyone; and I think that MovieTowne would be able to fill that gap and to pro vide the services that thousands of Guyanese would need,” said Jagdeo.
MovieTowne is considered the number one destination for clean family entertainment in Trinidad and Tobago. The nearly nineyear- old business, with more than TT$ 1 billion in assets, is chaired by Derek Chin, a native of Guyana. Chin said his dreams to open his own complex stemmed from his childhood years here in Guyana and the movie experience he encountered before cinemas became virtually extinct.
“ We are very excited. We are going to do our best to mirror what we have done in Trinidad,” Chin said at the launching of the franchise.
Under the banner, Multicinemas Guyana Inc, a US$ 20 million complex, will boast eight cinemas, a giant supermarket, fiesta plaza, restaurants and banking facilities.
Located at Turkeyen on 10 acres of land, MovieTowne Mall is expected to create nearly 800 jobs for Guyanese when it is completed in 2013. Construction is expected to start in 2012.
The franchise came about after the President invited Chin in 2006 to visit Guyana and explore investing in a multiplex here.
Chin is very confident that the business will do well in Guyana.
It is expected that the facility, upon completion, will redefine the local cinema in dustry, create an environment that promotes healthy family entertainment, revolutionise tourism and foster harmonious trade relations and synergies between Guyana and Trinidad.