December 10, 2023

Negative effects from Europe due to stalled money laundering bill

3-1From Kaieteur News

Anti Money laundering Bill…Amazon Caribbean Ltd. notices negative effects from European market – CEO

Amazon Caribbean Guyana Ltd. has noticed some negative effects due to the stalled Money laundering Bill from its customers in Europe, according to the company’s Chief Executive Officer, Jean-Francois Gerin.

He explained that transactions are getting more complicated and business entities in this part of the world have expressed suspicion towards Guyana.

“North American and European customers can quickly boycott products from Guyana once they feel our country is not putting sufficient effort into fighting money laundering or people and drug smuggling.” He emphasised.

He added that this is why the management of his company representing hundreds of employees and casual harvesters, farmers and other stakeholders is asking the Georgetown Chamber of Commerce and Industry (GCCI), the Private Sector Commission (PSC), the Guyana Marketing and Services Association (GMSA) and all organizations representing the private sector to voice their concern about this growing situation, which can only lead to negative future.

At a time when Guyana is encouraging foreign investment, Gerin noted that some European investors have already expressed their concern about starting a business in Guyana or investing in an existing one.

“The company humbly asks the Government to help the industry secure its production and export sites through mutual cooperation with the private sector. This is of paramount importance for the international image of Guyana and the future of its exporting industry.”

“The company wishes to reassure its customers, its employees, its business partners and the public at large that the existing strict security measures will still be reinforced to ensure the safety of its products and its exports.”

The company, he said reaffirms that it has specific contracts with some farmers supplying pineapples and hearts of palm to its factories.

As a food processor in Guyana for more than 26 years, Amazon Caribbean Guyana Ltd has been transforming non-traditional forest products and organic pineapples into organic value added products for export.

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