A strong manufacturing sector will never be realised without cheap energy

GUYANA’S premier trade fair and exhibition, GUYEXPO, was officially launched last evening by President Donald Ramotar at the Guyana International Conference Centre (GICC), Liliendaal, under the theme, “Transformation: Partnering for a Better Guyana”.

GUYEXPO provides a platform for importers, exporters, retailers and wholesalers both local and foreign to showcase their products, interact with each other, and create trade linkages.

Delivering the feature address, President Ramotar spoke of the importance of building a strong, competitive productive sector in Guyana, drawing reference to the recently concluded meeting of the Board of Governors of the Caribbean Development Bank (CDB), at which forum the disadvantages of the unavailability of cheap energy were highlighted.

He said this disadvantage of which he spoke can see a turnaround, given Guyana’s enormous capacity to produce renewable energy to satisfy not only its own domestic needs, but the needs of neighbouring countries as well.

President Donald Ramotar delivering the feature address at the launch of GuyExpo 2014 at the Guyana International Conference Centre

He said it is for this very reason that the government has been trying its utmost to develop the Amaila Falls Hydropower project, and that despite the fact that it has been voted down in the House, the government’s efforts to bring this project to fruition has been, and will remain unwavering.

“We will never have a strong industrial and manufacturing sector without having cheap energy in our society, and therefore we will continue to pursue this project,” the President said.

Over the years, the Government has been investing heavily in infrastructural development across the country to increase and improve production and productivity. As President Ramotar explained, such developments are absolutely vital in a modern society.

Some of the infrastructural developments at reference are: The Cheddi Jagan International Airport Expansion project; the construction of a deep-water harbour; the completion of the Linden-Lethem Road; and construction of the Marriott Hotel. The realisation of these projects, it is envisaged, will drive the country’s economy and bring tremendous benefits to Guyanese citizens.

Public Private Partnerships (PPPs)
Noting that major projects such as the Berbice River Bridge have been largely realised through the pursuit of Public-Private Partnerships (PPPs), President Ramotar called on the Private Sector to make greater use of this mechanism, seeking strategic partnerships not only with each other, but with foreign companies as well to improve the capacity of the country and expand its economic base.

Agriculture
He also used the opportunity to reiterate the need for more technology to be incorporated into the agriculture sector, since it offers more possibilities for the sector and those involved in it. He said that seeing that the price of food has begun to rise internationally, it is therefore important for the sector to be further diversified to ensure food security.

“International trade for us is vital. Our internal market is extremely small, and therefore for us to prosper and develop, export is extremely important; we have to also think about adding value, and only by creating a good industrial sector can we add the kind of value that we want,” the President said.

Social Sector
While the Government has been investing in infrastructure that will drive economic development, even more attention is being paid to the sector in an effort to boost the country’s human capital and built the necessary capacity.

For this reason, the largest section of spending in successive annual budgets goes towards the social sector.

“This is the area where we think we can redistribute income more to our people and give greater opportunities to our young people,” he said.

Anti-Money Laundering Bill
Mention was also made of the advisory issued by the Caribbean Financial Action Task Force (CFATF) regarding Guyana’s inability to pass and enact its Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill.

The President said that, “the only impediment that we have is in ourselves…I am told that even if we pass the Bill tomorrow, it does not mean that automatically everything will be alright…it will take some time for us to come out of what has already taken place…passage of this Bill is very vital for our development, this is not something to bargain with.”

He called on the Opposition to show some patriotism and ensure the Bill’s passage as soon as possible. He reminded that this type of “lobbying” politics will hurt the poor the most because they are the ones with the least resources.

Meanwhile, Minister of Tourism, Industry and Commerce (ag), Irfaan Ali in his remarks echoed the President’s sentiment on PPPs. He said that, “we believe partnerships are critical for transforming Guyana.” This call for partnership is reflected in the theme for this year’s event.

The Minister spoke of the tremendous investments from both the public and private sectors that are changing the outlook and the business environment of Guyana.

This development and transformation is perhaps more evident in the housing sector and the Minister, under whose responsibility the housing sector falls, said that the private sector must play a key and pivotal role in the housing and construction sector in any society.

“It is because of the massive investment of both and public and private sectors that we are able to grow wealth in a way that empowers the less fortunate, and add value to the low income earner,” the Minister said.

He noted that the transformation that is taking place is very dynamic and is creating new opportunities. He said that anyone who pays attention to the tourism sector cannot deny the level of commitment and investment made by the Government to improving the sector.

“Today, we can celebrate that Guyana is on the front page of COPA In-flight Magazine…if we had to pay advertising dollars to put Guyana on the front page of that magazine which touches more than 80 destinations in Latin American, can we even imagine the value of that? That occurred because of the Government and the private sector’s commitment in attracting new airlines that created more opportunities,” Minister Ali said.

He noted that while policies lead to successes, those successes are not confined to the areas in which they are achieved. He recognised however, that there is still a lot more to be done for the expansion and survival of the tourism industry.

He lauded the private sector’s investment in infrastructure in the sector, which far outweighs the Government’s capital investment into the sector. This, he said, speaks loudly of investors’ confidence in the sector and the economy as a whole.

The first ever GUYEXPO was held in 1995 and became an annual event in 2004. It is now the longest sustained exhibition in the Caribbean and is prominent national event on the tourism Ministry’s calendar of events.

(GINA)