The Indo-Caribbean Society (ICS) hosted this webinar on June 18th, 2021. Dr. Vijayakumar Rajarathinam, Deputy Vice-Chancellor, Texila American University, moderated the webinar. Dr. Vijayakumar is also an esteemed member of the ICS.
The speaker, Dr. Peter Ramsaroop, spoke in detail about the investment opportunities and benefits Guyana has to offer. Guyana has an untapped economy with great potential. The country serves as a gateway between the Caribbean region and South America.
Dr. Peter spoke in detail about the economic growth of Guyana. He explained Guyana’s current oil production capacity. He also revealed how Guyana would produce close to a million barrels of oil in the near future. He added how Guyana is going to be brimming with potential for investors, both foreign and local.
He explained the government’s plans to construct a deep-water harbor port, an oil pipeline, and better infrastructure. The pipeline will help cut down expenditure on energy, and the infrastructure development will help Guyana move into industrialization and manufacturing.
Guyana is also looking forward to promoting better connectivity among Guyana, Brazil, and the USA. This, along with cheaper energy and better infrastructure, opens up new and exciting avenues of investment for potential investors.
The topic of agricultural development and livestock rearing was also spoken about in the webinar. According to Dr. Peter, Guyana currently imports $35 million worth of milk, and livestock development will help cut down on this.
Being one of the fastest-growing economies, Guyana also has a rich ecotourism and hospitality sector. And the industry has more significant potential for growth, according to Dr. Peter. Additionally, the government is working on streamlining the process of setting up a business in Guyana and applying for permits.
The government is also offering tax holidays in specific scenarios to attract investors.