Exporters being trained ahead of first oil

THE Guyana Office for Investments (Go-Invest) has started to train exporters ahead of first oil which is expected to come on stream in 2020.
Go-Invest is training exporters to get them ready for international trading and translation through the distribution of brochures about investments and exports in relevant foreign languages, including Dutch and Mandarin.

Go-Invest first started its drive to help businesses, with a seminar on oil and gas last year. The seminar helped businesses to understand what they have to do in order to be prepared to contribute to the sector. “We want to ensure that Guyanese are part of the development,” said Chief Executive Officer of Go-Invest, Owen Verwey, during a press conference on Monday.

As part of its efforts, Go-Invest will also be partnering with the Georgetown Chamber of Commerce and Industry (GCCI) to send participants to the Offshore Technology Conference (OTC) which will run from May 6 to 9. Guyana is looking to have a booth at the prestigious event which will boost the capacity of local business people.
“We want to ensure that Guyanese have essential qualities to meet people and interact and understand the nature of offshore business,” said Verwey.

Go-Invest is also working in close collaboration with the Ministry of Finance to support the new Public-Private Partnership unit and is liaising with the diaspora to promote Guyana as a preferred “Investment Destination.”

One of the most impactful ongoing activities of Go-Invest is participation in the National Quality Infrastructure Project. In 2019, Go-Invest will continue with the implementation of component three of the Inter-American Development Bank (IDB)-financed National Quality Infrastructure project. A central component of this project is a comprehensive review of the Agency’s current institutional and operational model with the objective of strengthening and improving its ability to promote exports and attract investments.

“A strategic plan will be developed to overhaul Go-Invest’s strategic and operational arrangements and refine its investment promotion and export promotion strategies in keeping with current best practices in trade and investment promotion models,” said Verwey. Negotiations are in the final stages for consultancies to review and re-design the Go-Invest framework, but proposals for the consultancy for developing the investment and export strategy had to be re-submitted. Contracts for both consultancies are expected to be finalised by July 2019.

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