Agro processing is the biggest area for investments – GO-Invest CEO¹
Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Owen Verwey, says that agro-processing remains the leading option for investments in the country. Verwey said that Guyana is a natural resource-rich economy with the largest land mass in the Caribbean. He said that the country has the potential to feed the Caribbean with agriculture high on the agency’s agenda.
“This government is about to embark on a massive infrastructure development programme with the opening up of areas in industries and agricultural and into the natural resource location – that has been a key issue and to some extent that has been a limiting factor…” he said.
The CEO remains optimistic that Guyana’s economy is expanding and will attract more investors in the various sectors. He stated that GO-Invest remain ready to facilitate the process.
“You want to be in there in the first wave to get your maximum return for your investment. So the economy is opening up. A lot of processes are changing; we are consolidating a lot of processes to make things much easier and making it as much as possible a ‘one stop shop’ through this agency. We are collaborating with other agencies to make the process easier for quite a few people and there is great potential for this economy in the next five to 10 years.”
GO-Invest is the local agency set up to provide comprehensive services to potential investors and exporters. All applications for concessions, investments and other means of promoting investment are supposed to be channeled through the agency.
However, in the past, the agency has been bypassed with a number of ministries and government agencies carrying out tasks that should have been handled by GO-Invest. These included granting of concessions and tax waivers.
The David Granger administration has started to revamp GO-Invest, hiring a new CEO as part of the process.
¹ – ‘Agro processing is the biggest area for investments – GO-Invest CEO’, Kaieteur News, April 7, 2016, http://www.kaieteurnewsonline.com/2016/04/07/agro-processing-is-the-biggest-are-for-investments-go-invest-ceo/, (accessed 7th April, 2016).