With Takutu Bridge opening…
“Certainly, there is a rise in trade and the community is seeing more visitors, not only from Brazil but all over coastal Guyana, the Caribbean and other places. And lots of people are looking at what they can get involved with and we are projecting to see a minimum of maybe $2 billion invested in the commercial zone over the next two years.” – President of the Rupununi Chamber of Commerce and Industry (RCCI), Mr. John Macedo PRESIDENT of the Rupununi Chamber of Commerce and Industry (RCCI), Mr. John Macedo said recently that there has, indeed, been an increase in trading activities between Guyana and neighbouring Brazil, with the opening of the Takutu River Bridge.
He told the Guyana Chronicle: “Certainly, there is a rise in trade and the community is seeing more visitors, not only from Brazil but all over coastal Guyana, the Caribbean and other places.
“And lots of people are looking at what they can get involved with and we are projecting to see a minimum of maybe $2 billion invested in the commercial zone over the next two years,” Macedo stated.
He said, already, works costing in excess of $100M have begun and two premises were completed since the allocation of the lots in the commercial zone,
“We are hoping that, simultaneously with the Easter rodeo, we can have an opening ceremony for those businesses,” Macedo disclosed.
He said the Private Sector has always been working in close collaboration with the Government and President Bharrat Jagdeo, who is determined to work hand in hand with it, was very instrumental in having the commercial zone move ahead.
Macedo said, notwithstanding some challenges faced, some funds have been earmarked to get the infrastructure there, as well.
He pointed out that electricity supply is another huge problem but added: “We hope that we can cross those hurdles and we will definitely need to see the situation improved but I must also say that there are some steps to put it in place.”
Macedo maintained that Lethem is, basically, an area of trade and there are some proposals by Brazilian investors who want to establish businesses there.
Noting the arrival of a high level team, of some 50 Brazilian business persons, from Boa Vista in Guyana, he said the RCCI has always worked in close collaboration with the Boa Vista Chamber of Commerce.
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“There were many times when we had difficulties that we took it to the Brazilian side, to the Chamber of Commerce and they assisted in getting some of the situations addressed,” he reported.
The Brazilian delegation will be in Guyana until March 26, 2010, to discuss possible avenues for bilateral trade and investment.
Led by SEBRAE, a national organisation in Roraima State, the group comprises Government officials, businessmen and businesswomen, individuals from the tourism sector, particularly the hotel industry, SUFRAMA and the Roraima State media.
Their intention is to interact with Guyanese businesses and gain knowledge about trade and investment opportunities that exist and formulate plans for strengthening Guyana/Brazil relations and export capacities.
Macedo said RCCI continues to advocate for the good of Region Nine (Upper Takutu/Upper Essequibo) and a lot of things are happening.
He declared: “Lethem has gone forward a great deal and we, in the RCCI, recognise that we are at a very crucial junction and we can’t sit back.
“…we have been exploiting that to the best we could and I must say that the Government is giving us 100 per cent cooperation.”
Last week, Minister of Tourism, Industry and Commerce, Mr. Manniram Prashad said 55 more new businesses will be opened in the Lethem commercial zone.
He said a few new hotels are going to be built and one is almost completed while Government has earmarked $75M to improve facilities at Lethem Industrial Estate this year.