A HIGH-LEVEL mission from the State of Roraima in Brazil is currently in Guyana meeting with Government officials with a view to exploring opportunities for investment here and for

the IDB launch of a marketing study on the Guyana/Brazil Road.

Speaking with the Guyana Chronicle, First Secretary and Head of Trade Promotion of the Brazilian Embassy in Georgetown, Counsellor Ronaldo Vieira, has said the mission comprises three big groups: The Government of Roraima, the Parliamentarians of Roraima, and the Business sector.

Counsellor Vieira said: “The people who are here today are discussing the possibility of investment; possibility of trade promotion, and also importing things from Guyana. We are doing some survey, and there are three big groups represented.”

Meanwhile, relative to their interest in trade and investment here, the mission yesterday met with Chief Executive Officer of the Guyana Office for Investment (Go-Invest), Mr. Owen Verway, at a meeting convened at the Brazilian Embassy on Church Street.

Addressing reporters at the embassy following the meeting, the GO-Invest CEO stated: “Their (the mission’s) primary interest here is that they are looking for lands; lands on a large scale for rice and for soya beans, mainly because on a scalability it has to be at that level for them to be efficient and for them to compete on the world market with prices.”

Verway said that during the discussions, most of the questions asked were about how to acquire lands; the amount of lands available; the types and suitability of land; the process to establish a business in Guyana; the process by which lands can be repossessed, and the security of lands for investors in Guyana.

The team was also apprised of incentives for investors, among other things. With them appearing largely enthusiastic about what had come out of the discussions, the CEO said it does seem very likely that the mission would be here again in the near future, and that there would be more negotiations in looking at the opportunities here.

“This is just an advance or pre-feasibility measure. They are also looking to talk to existing players in the agricultural industry to determine what partnership opportunities are available. But it does seem as though they are interested in Government of Guyana opening up new lands in the various locations,” Verway said.

During those discussions with the CEO of Go-Invest, an energy-related subject was broached, with the Brazilians wanting to know of the potential for alternative energy mainly. While being primarily focused on solar, with limited interest in the area of wind and hydro-power, they seemed keen on knowing the potential for a Power Purchase Agreement (PPA) with the Government of Guyana.

On an optimistic note, the CEO responded: “A framework is in development, and should be available very soon, so that there is potential. Definitely, there is potential for players to come and operate within that industry.”

A power purchase agreement (PPA), or electricity power agreement, is a contract between two parties — one which generates electricity (the seller) and one which is looking to purchase electricity (buyer).