Agro processing sector has major prospects for investment

Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Owen Verwey, says that agro-processing sector remains the leading option for investments in Guyana as the local investment climate improves.

agroprocessing

Verwey said that agro-processing is very critical to Guyana’s economic development. He pointed out that Guyana is an agricultural based economy; we have the largest land mass in the Caribbean and the potential to be the Caribbean’s breadbasket.

Go-Invest to a large extent has received expressions of interest for the agro-processing sector in aquaculture, right down to traditional cash crops. Prospective investors have carried out a number studies towards moving forward proposed investments.

The agro-processing sector is expected to grow with collaborative efforts made through the Caribbean Development Bank (CDB) and Georgetown Chamber of Commerce and Industry (GCCI) to prepare agro-processing investors for the market.

The two agencies are completing a competitiveness study on the value-added industry, with emphasis agro-processing sector. Verwey stated that the study is expected to provide information on the industry and finances going forward.

In addition, GO-Invest has received applications and expressions of interest in the oil and gas, manufacturing, tourism, general services and ITC sectors.