November 12, 2019

Guyana poised to become Caribbean’s foremost investment destination-President Granger says at opening of GUYTIE

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From Kaieteur News

President David Granger is predicting that Guyana will become the destination of choice for persons seeking investment opportunities in the Caribbean.

The President made the disclosure on Thursday while addressing the opening of the inaugural three-day Guyana Trade and Investment Exhibition () at the under the theme: ‘Made locally, trading globally’.
Granger told the gathering that petroleum revenues would catalyze economic growth, increase employment and demand, propel innovation, intensify technology transfer and improve workforce productivity.

“Guyana will soon become the Caribbean’s foremost investment destination. The private sector should aim at building capacity and establishing strategic partnerships to be able to exploit the opportunities, which will flow from the petroleum sector,” the President stated.

Referring to Guyana’s oil discoveries, Granger stated that the maritime space will unleash unprecedented business opportunities.

“GuyTIE could enhance Guyana’s investment image as an investor-friendly state. It can improve competitiveness of large, small and medium sized enterprises and strategically position Guyana and the Caribbean in the global marketplace,” the President stated.

Attracting some 56 exhibitors, the exhibition is aimed at providing a platform to connect local businesses with international markets.

Among these exhibitors were well-known companies including Banks DIH ltd, the Embassy of the United States, Comfort Sleep, Sterling Products ltd, Edward B. Beharry and . In addition to the organizations known countrywide, there were also Amazon Authentics, Mohamed’s Farm, Tropical Shipping, Dagron Tours, Dyna’s Embroidery, Tazmein Coates and Kotra (Korea Trade Investment Promotion Agency).

At the opening, there were also coinciding speeches by the Minister of Business, Dominic Gaskin and the Private Sector Commission Chairman, , both of whom told the gathering that this exhibition was an event for the private sector to capitalize on.

Minister Gaskin addressed the gathering by saying that GuyTIE “is not and was never intended to be an entertainment event but strictly a business to business event” and will “work in line with the National Quality Inspection Project.” Gaskin also stressed on the fact that “GuyTIE is about the private sector” with the opinion that “now more than ever a strong private sector is needed by Guyana” as he related to the oil industry. Before concluding his speech, Gaskin told the gathering that GuyTIE 2018 is a plot event, which they expect to reoccur, and that “it is now up to our local businesses to explore.”

The Private Sector Commission is supportive of the initiative. The chairperson of the Private Sector Commission (PSC), Desmond Sears also attended the event and expressed his beliefs in “fair and equal treatment of investors in Guyana” as he told the gathering that he “is very excited for Guyana” and that “these are the exhibitions we need to promote Guyana.” The PSC Chairman also made reference to the oil industry by saying that it is only a matter of time before we receive revenue from oil and gas and that “Guyana would definitely be the place you’d want to invest.’’

The exhibition began Thursday and will conclude today.

IMAGES:

Cutting of ribbon at GuyTIE

President, Prime Minister and Minister of Business after the ribbon-cutting ceremony

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