WE should diversify our economic activities by introducing new crops (e.g, soya beans, and oil palm) and new manufactures based upon our raw materials and on the needs of our industries. We still import some food items -largely because of acquired tastes. On the basis of nutritional value, there is absolutely no reason why we should still import these items.
As oil prices continue to skyrocket, we have to give urgent consideration to the question of continuing the importation of these remaining items; the time is fast approaching when we may have to elect between continuing to import the food items that we still cling to and surviving as a nation.
To create and sustain a stable and ever-expanding economy, we have to build a strong, diversified manufacturing base. Manufacturing increases the value of raw materials many times over, triggers a host of complementary economic activities and multiplies national wealth. Manufacturing is crucial to our balance and rapid economic growth. The industries we establish must utilise our raw materials.Thus,they must be directly linked with the production of our agricultural and fisheries sector, our forestry sector, and our mining sector.
The development of resource-based industries can increase the volume and value of our national output dramatically. The pragmatic objective of our diversification development must continue to create more employment for the youths. We will have to acquire, adapt and develop technology as the propellant, so to speak, of our diversification activities. We will not get far without the assistance of such technology.
We live in an age in which scientific principles are being adapted more and more to serve the needs of mankind. This is the basis of modern technology. No country today can transform itself into a modern state without the development of a technological capability. We in Guyana need such a capability in order to make the fullest use of our valuable resources.