“GUYANA MEANS BUSINESS”
GO-Invest co-hosts Business Investment Conference in NY
As Guyana celebrates its 50th Independence Anniversary, its economy is poised for substantial growth in the coming years. To mark this special jubilee occasion, a special Investment Conference will bring the nation’s leaders together with the business community, corporate leaders and potential investors in New York in June.
The primary objective is to explore the exciting opportunities already available or ripe with possibilities in Guyana’s expanding economy. The theme is “Guyana Means Business”.
The Guyanese-American Independence Commemoration Committee in partnership with Guyana Office for Investment (GO-Invest) will be hosting an Investment Conference on Friday, June 10, 2016 at the prestigious Harvard Club in Midtown Manhattan, New York City.
The conference is the first of its kind and is expected to be attended by several Ministers of the Government including Minister of Finance Hon. Winston Jordan, Minister of Business, Hon Dominic Gaskin, Minister of Agriculture, Hon. Noel Holder, and Minister of Public Security, Hon. Khemraj Ramjattan, whose main interests lie in enlightening potential investors about the numerous opportunities for new businesses in Guyana.
One prominent feature of the Conference will be networking sessions that will allow hundreds of investors, consultants, executives, finance specialists and decision makers, especially in corporate America and corporate Canada, to interact and establish networks through which they would continue to weave the global net of business.
Also expected to attend are Business Consultants; Importers and Exporters; Attorneys-at-Law who specialize in any of the various branches of Company Law; Fund Specialists and entrepreneurs who have only just become aware of Guyana and who wish to learn more about this bounteous country and its business opportunities.
The all-day conference will allow investors to have one-on-one face-time with the Ministers as well as executives from GO-Invest. The potential investors have been asked to bring along executive summaries of current business ventures, overviews of their investment plans, and prospectuses for future ventures, joint or otherwise.
The May 2015 announcement by ExxonMobil of the find of significant petroleum deposits in the offshore Liza-1 well has improved the government’s optimism and gave a major boost to Guyana’s prospects for a cheaper, more sustainable energy strategy. Agriculture on Guyana’s extremely arable soils continues to be driven by strong performance by the rice sector, and growth of the Cash Crop and animal husbandry sectors. Mineral mining, tourism, light and heavy manufacturing, housing, wood products production and ICT continue to contribute handsomely to the national coffers.
Doing business in Guyana has been made easier, and Go-Invest has produced a manual titled “A Guide to Investment” that delineates comprehensively the nation’s investment policies and procedures. Their objective is to deliver greater efficiency, responsiveness and services to investors.
The long touted purpose of the Guyana Investment Office as a one-stop-shop for Investors will also be actualized to chop away the hassle of bureaucratic processes and render them much more transparent. It is generally agreed that this is indeed the best time for investors. By the year 2030, Guyana is expected to have become the primary investor destination in the region and the true bread basket of this hemisphere.
This is a perfect opportunity for entrepreneurs in Guyana, the Caribbean, North and South America, Latin America, Asia and Europe to receive the information they need in order to enter the Guyanese business community without hassle or undue bureaucracy. The opportunities are vast for business expansion and the introduction of whole new spectrums of ventures. These range from Agriculture – vegetable, root and animal farms, fruit groves and orchards and value-added processing of natural produce to import/export commerce; manufacturing durable products from metals, wood, etc.; catching and processing seafoods; and expansion of the Services industry including security, energy, ICT, business processing and education.
PONDER ON THIS
The Risk and Return from Investment In LDCs
“Why would anyone invest in a less-developed country?” a presumably hardheaded investor might ask. “Aren’t the risks too high and the profits precarious?”
This perception, though unfounded, seems widespread in some business circles. When it comes to profits, the evidence is that the rate of return on FDI in less-developed countries (LDCs) is often much higher than investment in developed countries, or even more developed emerging economies.
Often the negative perception of LDCs results in an enormous untapped potential. As such, investors able to do their homework and distinguish between perception and reality may find abundant and lucrative investment opportunities. These investors can benefit from ‘first mover’ status. As opposed to locations where everyone wants to be investing, first movers can pick the most promising opportunities. If they are able to navigate the challenges that come with doing business in LDCs, investors will find their experience quite rewarding.
Source: UNCTAD
