The Industrial Development Department (also known as the Industry Department) is a department of the Ministry of Business which has existed since 1991. The Department support two main goals of the Ministry of Business; these are (i) Support the development and exports of value-added industries (ii) Increase the economic opportunities and capabilities of vulnerable groups.
The Department’s Objective is: To facilitate development of the industrial base and provide opportunity for increase competitiveness.
The overall strategies of the Department are: (i) To develop and monitor activities on industrial estates in three administrative regions of Guyana. (ii) To encourage industry competitiveness through capacity building of specific sector industry, stakeholder meetings, review existing legislation’s and implementation of recommendations, draft industrial policy also preparation of promotional materials.
The Government of Guyana provides access to the industrial estates in order to support the manufacturing sector. The Industry Department currently monitors two Industrial Estates with over one hundred and twenty (120) developed plots at Coldigen and Eccles.
These estates support 57 operational factories and a total of 4000 jobs. The main industries are wood-processing, cement and block-making, electronics, electronic Engineering, food-processing, fish-processing, furniture manufacturing, metal fabrication, pharmaceuticals, chemicals printing.
In addition, the Industry Department is currently in the process of developing new industrial estates at Belvedere in Berbice and at Lethem in the Rupununi. The APNU+AFC 2015 budget allocated 267m GYD of capital investment to operationalize the industrial estate at Lethem.
Towards an Industrial Policy
The Ministry of Business draft strategic framework includes provisions for developing an Industrial Development Policy for Guyana. The industry department would play an important role in initiative.