Guyana president seeks investment from Trinidad and Tobago

PORT-OF-SPAIN, Trinidad, Thursday April 25, 2013 – Guyana Wednesday made an impassioned plea for business investments from its oil rich Caribbean Community (CARICOM) neighbour, Trinidad and Tobago, saying it also provides a gateway for investment in South America.

Guyana’s President Donald Ramotar addressing the Trinidad and Tobago Chamber of Industry and Commerce Annual General Meeting said his country could be a bridge “between the Caribbean and South America and offer Caribbean investors huge possibilities into getting into the market”.

Speaking on the theme “Exporting Markets in Guyana-Opportunities and incentives to attract foreign investment,” Ramotar said that his country is establishing an US$850 million hydro electric plant and would also continue to concentrate on the bauxite industry as well sugar and rice production.

Ramotar said the Guyana economy offers foreign investors predictability and he is hoping to cement more business ties with Trinidad and Tobago.

In his address, Ramotar told the business leaders here that in the past his country had suffered from an overwhelming debt burden that almost crushed the country and that the situation should serve as a prime example of what not to do.

“Guyana is an example of what not should be done in the future when democracy is threatened in any part of our territories because I believe had had not the region been so quiet about Guyana in the difficult days we could have probably turned the corner well before the time that we have done,” he said.

Ramotar said that with the economy now restored, his country as looking towards the future, telling the private sector leaders that Guyana can be very instrumental in the fortunes of the Caribbean, describing his country as “an investor’s paradise”.

Figures by the Bureau of Statistics in Guyana show that the country imported goods totaling GUY$206.2 million (One Guyana dollar = US$0.01 cents) from Trinidad and Tobago, while exporting GUY$43.8 million. (CMC) Click here to receive free news bulletins via email from Caribbean360. (View sample)