Minister of Business Dominic Gaskin said there are many foreign companies that are interested in investing in Guyana’s economy- and more specifically in the sugar industry.

While noting that a majority of these investors have not formally approached the government, the Minister highlighted that these investors would make enquiries and approach him from time to time.

Nevertheless, he told Guyana Chronicle in an interview that, “Many investors are interested in Guyana’s sugar industry.” Gaskin highlighted that the only recent formal approach made by a company showing interest in Guyana’s sugar industry was a Trinidadian company, D Rampersaud and Company Limited (DRCL).

He recounted that this company signed a Memorandum of Understanding (MoU) through the Guyana Office for Investment (Go- Invest) to conduct a feasibility study into setting up an integrated sugar processing facility in Skeldon, Berbice.

This company, as said by the Minister, was interested in diversifying the industry since they signalled their interest in producing fuel-grade ethanol in addition to cultivation and harvesting of sugar-cane, sugarcane processing, producing bulk rum for local, regional and international markets, constructing a liquid bulk terminal, developing a solar power generation facility, among other things. Additionally, the minister confirmed that a firm based in India, the Srinath Ispat Limited, visited Guyana recently to engage with the government on investing in Guyana’s sugar industry but he conceded that he did not meet with the representatives of the company.