US Embassy reopens commerce department after lull in investment opportunities between 2015-2020 – Tourism Minister

The United States of America Embassy in Guyana has reopened its commerce department and include more staff after the closure of the department during the period 2015 to 2020. This is according to Tourism, Industry and Commerce Minister, Oneidge Walrond.
She made the announcement on Sunday at Bath Settlement, Region Five (Mahaica-Berbice), as she commissioned a new branch of Caribbean Motor Spares.

According to Minister Walrond, US Ambassador to Guyana, Sarah-Ann Lynch, with whom she is in constant contact, informed her that business persons in the US are constantly seeking information on investment opportunities in Guyana.
“A lot of interest is being generated in Guyana from foreigners. Every day we are getting inquiries about business opportunities here in Guyana by foreigners. In fact, I had a conversation with Ambassador Sarah-Ann Lynch; most Embassies have a commerce department and hers was not staffed between 2015 and 2020. They had been forced to close down the commerce department at the United States Embassy because perhaps of not much activity and she has had to boost up that department because of the number of interest that she keeps getting at the Embassy from United States citizens who are interested in the business prospects here in Guyana,” Minister Walrond said.

As a result of that interest, staff at the Embassy has been boosted and more meetings are being held between the Ambassador and the Tourism, Industry and Commerce Ministry.
Nevertheless, Walrond said she is heartened by the confidence being displayed by local business persons of the economy, as she commissioned the $60 million Caribbean Motor Spares outlet at Bath.
It is the fourth branch of the franchise which started on the Essequibo Coast, Region Two (Pomeroon-Supenaam).
According to Walrond, local businesses while displaying confidence in the economy have been getting support from the Government.
“More than ever the business community has seen directly from our President and trickled down to the rest of Ministers and Government, a robust message that local business in Guyana and homegrown and we are here to make sure that they are sustained, developed and nourished and hence the Local Content Bill which is something that has only been done in about four countries in the entire world.”
Taking the opportunity to speak on the Natural Resource Fund and its impact on small businesses, Minister Walrond explained that, “One of the priorities for the Natural Resource Fund is for small businesses, especially small businesses that are outside of Georgetown. Because we recognise that because all of the infrastructural development and major transformation that is happening, sometimes businesses that are operating outside of Georgetown may not feel the effects. And so, we have decided to make direct intervention with cash transfers, physical and otherwise incentive in communities like this”.
General Manager of Caribbean Motor Spares Hardyal Dobay explained that the business is a retailer of motor spares for small vehicles. He said it is a one-stop solution which is something people have been looking forward to and is highly anticipated.
The Bath Settlement branch will also provide local jobs and meet the corporate social responsibility of Caribbean Motor Spares.
“We are happy to be part of Region Five and to offer our uniqueness and our product range to contribute holistically to the development of Guyana.”

The new branch has already employed ten persons.
Meanwhile, Executive Chairman of ActionINVEST Caribbean Inc, Dr Vishnu Doerga, who also made a presentation at the simple ceremony on Sunday encouraged small businesses to grow.

375 new jobs
Meanwhile, Member of Parliament Faizal Jaffarally noted that over the past 16 months, several companies have set up business in Region Five. Some of the businesses include finance, spare parts and education – creating more than 375 new jobs.
This, he explained, is because of the policies of the Government.
Jaffarally, however, urged Caribbean Motor Spares to take note of the fact that while they might be dealing in spare parts for small vehicles, Region Five is agriculture-based, the largest rice-producing region in the country, has a sugar estate and plays a substantive role in the country’s cattle industry. Hence, the new franchise might want to pay attention to the huge demand for spare parts for heavy-duty vehicles. (G4)