Surinamese Investment Agency views Guyana as blueprint for attracting investments

– as inaugural Int’l Business Conference launched

The International Business Conference (IBC) has been launched on Saturday at the Guyana Marriott Hotel in Kingston, Georgetown. During that launch, the Suriname Investment and Trade Agency (SITA) declared that it views Guyana as a blueprint on how to promote investment opportunities to the global stage, and thus attract investors.
Organized by the Guyana-Suriname Chamber of Commerce with support from SITA, the Guyana Office for Investment (GO-Invest), and the Guyana Manufacturing and Services Association (GMSA), the IBC is being held from October 15 to 17, 2024.
SITA Director Amar Alakhramsing, speaking of how Guyana is being used as a model in Suriname when it comes to growing trade relations with other countries and putting the country on the global map to attract investments, said:
“There are some main focus points looking at SITA… Setting up SITA in Suriname is actually giving us a bit of pride, because now we are trying to get Suriname out of Suriname itself; (we are) trying to get Suriname known by the world.”
Alakhramsing continued: “And we are starting with Guyana, because (it) is now a great example for us. We actually learn from Guyana. Actually, the way I see is, we are trying to promote the exporters in Suriname to get out of Suriname.”

In a statement highlighting the influence IBC will have on the region and the benefits that participation in the conference will have, the Suriname Guyana Chamber of Commerce (SGCC) has said, “IBC strives to play a central and influential role in the region’s socio-economic growth by guiding sustainable capital towards key sectors and business opportunities, while serving as a credible and trusted entry point into the region.
“We connect our participants to business opportunities through a dynamic and pragmatic business conference and one-to-one business matching service. With an international reach and local understanding, IBC offers a leading private sector-led investment platform where participants will be provided with access to an unrivalled network and unique information, market intelligence, and exposure to business opportunities.
“With high standards and integrity, IBC is built on a belief that a responsible and profitable private sector has a crucial role to play in the development and prosperity of the region”.

Aims of the Conference
GMSA President Ramsay Ali adumbrated what the aim of the conference would be. According to Ali, Government policies would also be examined during the summit in order to find solutions to overcome challenges such as trade barriers, in a move to help enhance regional and international trade.
“We’re here to promote Guyana as a primary destination for manufacturing. Our nation is on the brink of transformative change. It’s crucial that we harness the momentum and foster partnerships with local, regional, and international agencies. IBC will delve into several critical topics that are paramount to the future of our manufacturing and business sector,” he said.
“Major focus will be on supply chain, market expansion, export insights for overcoming current restrictions, and optimizing logistics to ensure seamless operations. We will tackle issues related to labour, increasingly pertinent skill gaps, and trying to build a robust workforce capable of contributing to future growth in the Caribbean and Guyana,” Ali explained.
Chief Investment Officer (CEO) and Agency Head of GO-Invest, Dr Peter Ramsaroop, also spoke at the launch, and welcomed the hosting of the event in Guyana. Further, he urged the organizers to take a practical approach to engagements with a focus on closing business deals.
Chairman of the Guyana-Suriname Chamber of Commerce, Dr Vishnu Doerga, and Ambassador of Suriname to Guyana, Her Excellency Liselle Blankendal, were also present at the launch of the conference. Participation is expected from investors and business leaders from the region and beyond.
In Guyana, the Guyana Office for Investment (GO-Invest) has brought in 250 investments since 2020. Guyana has been extending ties around the world, and the Government has assured that investors can expect an enabling business environment.
In March 2023, the British Chamber of Commerce (BritCham) was launched in Guyana, coming months after visa restrictions were removed for Guyanese visitors to the United Kingdom (UK).
Then in April, the India-Guyana Chamber of Commerce (IGCC) was formed, thus paving the way for the facilitation of trade, investment, and cultural exchanges. In May, the Government of Ghana commissioned the first Ghanaian Chamber of Commerce in Guyana. There is also an American Chamber of Commerce (AmCham).
In November, a European Union (EU) Trade Mission arrived to explore opportunities, with a heavy focus on forging greater economic cooperation in the areas of health, climate, energy, and regional connectivity. (G-3)