GUYANA has significant economic potential in manufacturing, agro-processing, and the burgeoning oil-and-gas sector. Sustainable growth and international collaboration are crucial for harnessing this potential, and the upcoming International Business Conference (IBC) will bring investors and businesses face to face.

This is according to the Chairman of Action Invest Caribbean Dr. Vishnu Doerga, who, during an exclusive interview with the Guyana Chronicle, noted that the inaugural IBC, slated for October, will be the ideal platform to facilitate further regional investments, and strengthen partnerships.

The conference, which will bring together key players from the business communities in Guyana and Suriname, is slated to be held at the Marriott Hotel from October 15 to 17.

“The International Business Conference was really developed out of the missions that the Suriname-Guyana Chamber would have hosted in the past year. We would have done several missions from Suriname to Guyana and Guyana to Suriname,” Dr. Doerga related.

Dr. Doerga, who is also the Chairman of the Suriname-Guyana Chamber of Commerce (SGCC), further emphasised the importance of preserving natural resources, and promoting renewable sources, while highlighting the need for Guyanese and Surinamese companies to further collaborate for mutual benefits.

“For a lot of big companies around the world, they see Guyana as a small country; they see Suriname as a small country. Both have fantastic potential.

“Guyana is already moving forward with turning that potential into productivity and income for the country. But when they see these two countries with massive opportunity, it becomes very interesting to them to do something across both countries,” he noted.

Currently, Guyana’s business landscape has been abuzz, as many major forums and expositions have been held, and several are in the planning stages.
Dr. Doerga noted that while many businesses would have participated in the foregoing events, the IBC provides a unique opportunity where businesses can be paired with partners and investors.

He noted that the conference’s agenda is set up in such way that key players could schedule their own meetings with investors and partners, and have their specific questions or queries addressed.

“This is the information people are really asking us for all the time. We will map out what the high priority opportunities are in Guyana, especially in manufacturing and agro-processing, because they (investors) have a lot of capital. They have manpower, but they want to know, well, what can be done in Guyana, and we want to be able to present those opportunities to both sides; Guyanese and international companies,” Dr. Doerga explained.

The conference will be co-hosted by the SGCC, and the Guyana Manufacturing and Services Association (GMSA).

Dr. Doerga noted that while there is much talk of oil and gas in both countries, there are opportunities in other industries, and the manufacturing sector will be among the key topics of discussion, with particular focus on sustainability.

“I can say that 80 per cent of the oil-and gas supply chain in Guyana is already built. People already have their contracts; their contracts are three to five years. It’s not the easiest thing for a new entrant to now enter Guyana’s oil-and-gas supply chain. However, there’s so much opportunity everywhere else in the economy, and I think that will be the biggest outcome; to actually put our manufacturers or farmers or construction companies in contact with the companies that are looking to support them; are looking to join venture, are looking to develop things on a higher scale,” he stated.

It has been said that the IBC will focus on streamlining the ease of doing business and facilitating investments between international businesses and Guyana and Suriname in key sectors including, energy, infrastructure, finance, logistics, agriculture, and business support services.

The IBC is expecting over 100 speakers, and more than 500 delegates, with in excess of 15 conference sessions.

Added to this, several Memoranda of Understanding (MoUs) were signed after the launch of the conference last month.
The MoUs were signed among Guyana, Suriname, Canada and the Dominican Republic (DR) business chambers, and the Suriname Investment and Trade Agency to foster greater relations.

 

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