Guyana in talks with leading UAE companies on agri investment opportunities

…as Black Belly Sheep Project launched in WCB
…20% farms to be led by women, 35% by youth

President Dr Irfaan Ali, who recently returned from representing Guyana at conferences in the United Arab Emirates (UAE), has revealed that Guyana is in talks with three of the largest State-backed Arabian institutions on agriculture and food security and that they will be visiting Guyana.

He made this revelation during Sunday’s launch of the Black Belly Project in Onverwagt, West Coast Berbice. President Ali had been in Dubai for the Global Business Forum LATAM, as well as the Caribbean Investment Forum (CIF2022).
“I just came back from the UAE. And 90 per cent of the conversation with the leadership of the UAE and the Private Sector, was not on oil and gas… 90 per cent of the conversation was on food security and agriculture diversification,” President Ali explained.
“We had discussions with three of the largest State-backed institutions, that are going to be here. The Emirate future group, the Al Dahra Group and the Elite Group, are three of the largest players in agriculture and food production.”
President Ali drew parallels with neighbouring Brazil, who he noted is one of the largest exporters to that region in multiple categories. According to President Ali, Guyana has all the competitive advantages right here. It is now catalysing it into action and bringing it into the fore, so that the benefits can redound to the country.
Speaking about swamp shrimp, Ali noted that since that project was started, they have been able to double their production in less than a year. They are also looking to double the new production target in the next year.
President Ali also discussed the efforts being made by the Government to shore up Guyana’s agricultural sector against global shocks, ranging from plans to grow wheat locally, to using the natural gas being produced offshore Guyana to produce fertiliser, another product whose prices have been affected by global shocks.

Black Belly Sheep Project
With respect to the Black Belly Sheep Project, President Ali provided statistics to show that the project, once implemented and expanded, could earn US$43 million in annual revenue. By year four, he was optimistic that operating expenses would amount to US$24 million and beyond year four, US$30 million.

The project is also expected to provide employment for close to 4500 persons, directly and indirectly. Farmers need only come with their land and register with the Government and already, 78 of them have done so. The Government also wants to provide targeted support to women and youths, in this project.
“To let you know how fast we’re moving, we have already agreed with Barbados that Guyana and Barbados would do a joint project to supply the Barbados market strictly from Guyana to start with. That is a market with a value of US$6.8 million,” President Ali explained. “To show you how fast we’re moving, two weeks from now, our breeding stock for Barbados black belly will be enhanced by 1000. That stock is coming to Region Five, to support you in Region Five, in the breeding stock. This is not gaff. This is real work, hard work, in building this industry.”
Figures from last year show that Caricom imports US$48 million in mutton and lamb products.

In detailing the programme, President Ali said the target is to be able to produce 7000 tonnes of mutton at the end of the first five years.
“This will need investment from the Government, farmers and foreign investors.”
The entire project will cost an estimated US$175 million and utilise 25,000 hectares of land most of which will be in Region Five.
The demand for mutton in Caricom is expected to grow as the pre-COVID figure was 32 million tourists coming into Caricom annually.
Currently, Trinidad imports US$17.2 million; Jamaica US$12.6 million; Bahamas imported US$6.9 million and Barbados US$6.8 million.
“We have already agreed with Barbados, to do a joint project to supply the Barbados market strictly from Guyana at the start with that market value being US$6.8 million and within two weeks, our breeding stock of the Barbados Black Belly Sheep will be enhanced by 1000 and that is coming to you here in Region Five.”

Women, youth
The Head of State pointed out that under the programme, they want at least 20 per cent of the farms to be led by women and 35 per cent of the farms must have youth involvement.
“That is below the age of 45. This is part of building a future, this is part of empowerment. These are real thoughts and a realistic approach in the involvement of people. So, not only must we talk about food production, it must be built or erase biases. Our culture must demonstrate that it has the ability to create an equal society and that is a part of this vision. We are also bringing large scale producers and large-scale producers are not here to compete they will be here to support and part of that support is technology. In capital, we have already made it clear small farmers must be part of a larger collection that will drive this system,” the Head of State pointed out.
Explaining the support Guyana is getting from Caricom for not only reducing the region’s import food bill but also in supporting the local agriculture industry, President Ali pointed out that the leadership of both Barbados and Guyana have already expressed their unwavering commitment to the removal of every barrier that will prevent trade between the two countries.
“Similar discussions are ongoing with Antigua, Jamaica, St Lucia and the rest of the region,” he added.

Poultry production
Between May 19 and 21, the first regional agri investment forum will be held in Guyana. The forum is expected to bring together all the major players in the region from the distribution chain, banking institutions and global players.
According to the President, this will allow for them to formulate an actionable agenda with the investment required and make those opportunities available to the people of the region and globally.
Giving an example, he pointed out that a team from the UAE will be in Guyana to look at the cargo facility for direct export in North America.
“Very soon we will be launching another programme to support the poultry industry. We started by working with all the poultry producers in a consortium for them to produce their own – from the production of feed to support that industry. We have to be self-sufficient. It is not only rising prices globally now but its shortages of supply.”
To combat this, he noted the Agriculture Ministry is working with farmers on the production of corn and soya.
He added that the current Administration is vigorously pursuing a project which will see Guyana being able to produce locally produced hatching eggs.
“Right now we import between 48 to 52 million eggs annually which cost between $336 million to $350 million. That is a market we can capture to be part of this massive project in which the Private Sector the Government and communities will work for ensuring we have a sustainable production of hatching eggs.”
The long-term goal, he pointed out, is to also be able to produce hatching eggs for the Caricom market.
“These are initiatives that are transformative in nature. These are the initiative that will propel the economy. These are the initiatives that will bring direct benefits to the farmer and enhance our diversification programme and will ensure that our economy is built on many pillars.”
Guyana and Barbados have been pursuing increased ties with each other, with trade delegations from Barbados having visited Guyana and met with top local officials, including President Ali himself.
Last year, President Ali had declared that his Government would be pursuing an aggressive campaign to dismantle regional barriers to agricultural trade and that in the next four years, with the assistance of more diversified crops, Guyana would aim to reduce the Caribbean Community’s (Caricom) food import bill by 25 per cent.