— as overseas-based Guyanese plans massive investment on Essequibo Coast

By Indrawattie Natram
OVERSEAS-BASED Guyanese Dudley Stephens, 38, formerly of Maria’s Lodge, Region Two (Pomeroon-Supenaam) and currently resident in Long Island, USA, plans to invest some $500M to develop the coconut industry on the Essequibo Coast.

Speaking with the Guyana Chronicle, Stephens said he currently works for a wealth management firm in Manhattan. Most of his clients, he said, are looking for investment opportunities and he has therefore encouraged them to do so in Guyana.
Stephens said he has visited Guyana with the hope of creating a business network, whereby he can positively contribute to the Region Two economy. His business, “Legacy Agro,” is seeking to start investment at Capoey. Asked why Capoey, Stephens said his mother grew up in that community.

His aim is to establish a huge coconut estate in Capoey, thereby providing job opportunities for persons in the community as well as on the coastland. He said his coconut estates will be intercropped with pepper and citrus and later an agro- processing facility will be built as the business expands.

“I believe in diversifying, if you can diversify then the agriculture industry will attract investment and job opportunities will be created; we all know the issue of rice-farming as such lands should be converted to coconut plantations,” Stephens said.

For the few weeks Stephens has been in Guyana, he met with regional officials and shared his ideas; among those was Region Two Chairman Devanand Ramdatt, who is was happy that Stephens wants to invest in the Region Two economy. During the regional agriculture fair, the businessman also used the opportunity to create contacts and build a network for his business.

On Monday he also met with Agriculture Minister Noel Holder, with whom he shared some of his ideas. He will be meeting again with the minister to formally discuss how he can positively contribute to the agriculture sector. Stephens also intends opening a mall at Suddie, as well as a high-end resort at Capoey.

He is trying to get several businesspersons to come and invest in Guyana, especially in the oil and gas sector; he sees great opportunities for Guyana once the resources are properly managed.