GO-Invest CEO talks up business opportunities with Essequibians

GO-Invest Chief Executive Officer (CEO) Peter Ramsaroop has held multiple discussions with the business community, youth organisations, the Regional Democratic Council, and members of the Essequibo Chambers of Commerce and Industry (ECCI), during his two-day outreach to Region Two (Pomeroon-Supenaam), explaining business opportunities and incentives that are available.
Speaking to a small gathering at the Regional State House on Thursday, Ramsaroop said Region Two was an agriculture-based region and there was much potential in the coconut industry. Another area where he foresees opportunities is value-added production in rice farming, along with other plantation-type agriculture.

GO-Invest Chief Executive Officer Peter Ramsaroop speaking at Anna Regina State House. Also in photo is Region Two Chairperson Vilma De Silva

The GO-Invest CEO noted that the major factor in value-added production was energy cost.
“The ultimate goal of GO-Invest is to bring an integrated energy solution to the region to bring productivity cost down that will lead to the value-added products. At the Anna Regina, Essequibo Coast, there is a cereal plant that is operating at a minimum pace, however, the mission is aiming to find a large investor that will be able to expand the plant to produce cereal and other value-added products such as rice bars from the crispy rice that is highly demanded in the region,” Ramsaroop told the gathering.
Some of the general incentives that businesses in the region will benefit for agriculture are VAT exemptions on electricity and building and construction materials; the reversal of the policy on used tyres along with the reversal of the older-than-eight-years ban on vehicles, and the reversal of high renewal fees for motor vehicular licences. Additionally, the 14% per cent VAT on All-Terrain Vehicles have been removed.
Entrepreneurs were also educated on investment and the business opportunities in the region for GO-Invest office to put together the necessary policies and process investment that will ultimately benefit residents on the Essequibo Coast. Ramsaroop said that GO-Invest was mandated to assist local investors in providing incentives for them to create a friendly business environment that would be beneficial in creating employment and boosting the nation.
Meanwhile, Regional Chairperson Vilma De Silva told the gathering Guyana was deemed a hotspot for investment, which would give a boom to the economy. The major investors are taking notice and the Government is keen to ensure that investors will have opportunities to benefit and grow and as such, improve businesses and the region.
The issue of poor Internet connectivity was also raised by the business community at the meeting. In response, Ramsaroop said that engagement has commenced with service providers to enhance the service.