New Corentyne River Bridge will boost economic development between Guyana, Suriname – Dr Ramsaroop

– urges both countries to forge partnerships at upcoming business conference

As the Governments of Guyana and Suriname work to improve connectivity between the two countries with a new bridge across the Corentyne River, the Head of the Guyana Office for Investment (GO-Invest) Dr Peter Ramsaroop highlighted that this pertinent piece of infrastructure will also bolster economic development between the two nations.
In a recent televised interview, Dr Ramsaroop highlighted that both Governments had made commitments to strengthen bilateral and economic ties while adding that the joint venture will serve as a crucial link to do so.
“You know, just recently, the big discussion that has been on bridging the Corentyne River between the two countries and that is moving rapidly ahead. I think that brings together the synergy that will allow the economic development, both in trade and in joint projects that will benefit both countries.”

Just recently, Guyana and Suriname had settled on Chinese construction company, China Road and Bridge Corporation (CRBC), as the preferred contractor for the link.
Moreover, as the Suriname leg of the International Business Conference (IBC) is set for next month, Dr Ramsaroop called for industry leaders from both countries to form alliances, noting that the two countries have various areas in which they can partner.
“Twinning of our products is very, very important. Both Suriname and Guyana are known for green economy or climate security, but between our forests is significant or ecotourism between the two countries have a lot of synergies.”
One area in which the seasoned business official highlighted that both countries can dominate the global market is agriculture. Providing an example, Dr Ramsaroop explained that by collaborating, Guyana and Suriname could create a pepper product capable of competing with some of the famous regional and international brands.
“Agriculture has a lot of synergies. I believe the more and more we open our minds to the twinning of a product, I mean, for example, we grow peppers, Suriname grows peppers. You know if we can have a South American-flavored Caribbean pepper sauce. If we put the capacity together, we could compete against the Tabascos of the world.”
He added that the eco-tourism sector also has great potential.

“Recently I initiated a conversation between the eco side of Suriname and the eco side of Guyana. So, the Baganara evergreens were the target of a local eco operator in Suriname. And then they combine a product, you know, a couple of days in a swamp, and then a couple days on an island in Guyana. And everybody gets a piece of the pie.”
As it relates to agriculture, he noted that the two counties collaborating could significantly slash the CARICOM region food import bill.
“The import bill alone within the regions is billions of dollars in food. Why is that the case? Why can’t we package our corn in cans? Why do we buy the corn from outside the region? So as you look at how we build the standards, we don’t have to go far to capture that billion-dollar market. And again, I think, Suriname and Guyana, because of our agriculture lead, we can take charge of that food bill by 25 by 25.”
As the two countries push to strengthen bilateral arrangements the Chief Investment Officer (CIO) noted that the Suriname leg of the IBC will provide Guyanese investors with a chance to understand the similarities between the business environments of both countries.
“The success of the Guyana conference with Suriname showed a lot of businesses from Suriname coming into Guyana. I mean, I think the numbers ranges to 50 plus. Suriname businesses now want to do business in Guyana. I think you’ll see the other way around with this conference where Guyanese business needs to learn a lot more about the Suriname environment, their investment code, similar to the Guyanese Government investment climate, where you can repatriate all your profits, your capital, your investment is safe, is protected by law.”
Moreover, as Suriname gears up to become a major oil producer, Dr Ramsaroop noted that Guyana could play a significant role in the development of the country’s oil and gas sector given its expertise.
“I believe that Guyana has a leading role to play initially in getting Suriname to the next level. And it’s not taking over the market in any way. It’s really how do we leverage our knowledge base from what we have learned over the last five years to help a partner…It’s not a competitive environment. It’s really how we bridge that gap. And literally, we’re bridging the two countries.”
The IBC stands as a distinguished gathering dedicated to enhancing the facilitation of business operations and advancing foreign capital investments in Suriname and Guyana. With a primary focus on crucial topics such as policy, trade, energy, infrastructure, manufacturing, finance, and technology, this conference serves as a pinnacle event for driving foreign investments and nurturing economic prosperity. The upcoming second edition of IBC is to be held from 4-6 February 2025, and will take place in Paramaribo, Suriname. This year’s summit aims to unlock new avenues for business growth and strategic advancement for both local and international enterprises, while simultaneously igniting economic progress in the region.