Guyana’s growth prospects attracting daily visits from foreign investors

…as diplomats speak of investor interest for partnerships

The way the world sees Guyana and its growth prospects was highlighted during the Guyana Manufacturing and Services Association’s (GMSA’s) dinner on Tuesday, when diplomats spoke about the high interest investors in their own home countries are showing towards investing in Guyana.

In his address to the manufacturers, Canadian High Commissioner to Guyana, Mark Berman, spoke of the linkages that Canadian firms have both formed and will form in the future. He pointed out that at that very moment, a trade mission from Newfoundland and Labrador is in Guyana, exploring opportunities. In fact, he was optimistic that tangible agreements would come out of this trade mission’s visit.

“Over the years, we have encouraged Canadian firms to come to Guyana and assess the opportunities, meet the business community and get a tangible feel for the country. And the Canadian private sector is listening to the call, be it in bauxite, mining service industries, oil, or other sectors. Canadian companies have continued to quietly form long-lasting partnerships that benefit both Canadians and Guyanese.
We currently have a trade delegation in Guyana…there are several companies (which) are already involved in Guyanese joint ventures and others seeking to form partnerships with Guyanese businesses for the first time. And I expect quite a few new ventures will find their genesis in this trade mission,” Berman said.

Meanwhile, British High Commissioner to Guyana, Jane Miller, noted the importance of businesses being ambitious and seeking opportunities to expand their operations while hiring more people. She also noted the importance of the country cultivating ‘Brand Guyana’.
“Guyana is really open for business. It’s an amazing and transformative time, and I have three messages. Firstly, ambition. We’ve just heard it’s the fastest growing economy in the world, and I want businesses to be really ambitious. I’ve travelled around the country and seen manufacturers doing an amazing job. Have pride in what you do,” she admonished.
“My second thing is to partner…it brings scale, it brings people together, but, much more importantly, it’s about bringing that expertise and innovation together. One thing we say to British businesses coming to Guyana is to find a local partner,” Miller said.
In her address, Chinese Ambassador to Guyana, Guo Haiyan, spoke of the ways in which China has been helping Guyana achieve its economic and infrastructural potential through various concessionary financing. She was also optimistic that the Government would craft a future wherein all Guyanese can prosper.
“Guyana is a beautiful country, independent and free, and transforming at a rapid pace… With a booming oil and gas industry, Guyana has ushered in historic development opportunities and become a shining star in the Caribbean. But I believe other sectors, such as agro-processing and manufacturing services, have great potential,” she said.
“I’m confident that all of you will achieve great development in the economic boon, and I am very sure that Guyana will create a brighter future for all its people with a joint effort from all parties,” Ambassador Guo said.
The Indian High Commissioner to Guyana, Dr K J Srinivasa, meanwhile spoke highly of Guyana’s growth prospects and the fact that investors arrive in the country every day. The Diplomat made the observation that today, India’s status as one of the world’s largest economies is due to its manufacturing sector. He also noted that while Guyana’s huge economic growth will continue for the next couple of decades, there is a need for continued economic diversification.
“We’re gathered here at a golden period for Guyana, which is poised to lead the growth in the entire region, being the highest growing country in the world for the past two years. Guyana is poised to take off further in its economic growth trajectory,” he said.
“Numerous delegations come in day in and day out to Guyana, and as my good friend the Canadian High Commissioner was mentioning, there are always some delegations floating around in some part of the country. In fact, I’m here after seeing off an Indian delegation official at the airport,” he said.
Srinivasa noted that Indian firms are increasingly coming to Guyana, looking to form joint ventures. He noted that the High Commission is frequently approached by Indian firms for guidance. (G3)