WITH several investors eyeing the local agriculture and lumber industries in Region 10, Chief Executive Officer (CEO) of Go-Invest, Dr. Peter Ramsaroop, said that the Upper Demerara-Berbice region was on its way to becoming a manufacturing hub.
Dr. Ramsaroop, in a recent invited comment, told the Guyana Chronicle that several memoranda of understanding (MOUs) have already been inked with investors for block-making and construction projects in the region.
“We just signed a cement batching plant in linden; local investors brought that in. It’s quite a significant investment, so the next phase is the block-making,” he said.
He noted that the construction industry was currently buzzing and many investors were looking to expand into valued-added products of lumber and Region 10 was a hotspot for the industry.
“Investors are looking in the area to do ‘prefab’ houses, the construction industry was booming and so with the lumber in the region, most of them were looking to move to value-added products.”
Additionally, he said many investors had also been showing interest in the region’s agriculture sector.
He noted that as Guyana was looking to expand its dairy production several farming communities along the riverine areas of the region had recently become a highlight.
“There are significant opportunities. There is large scale farming in the Berbice River in Region 10; you have areas like Kwakwani…we have a lot of investment opportunities in large scale farming for cattle and dairy.”
Dr. Ramsaroop reiterated that the region was on its way to becoming a powerhouse and hotspot for manufacturing and future investments.
“We see this region taking off in so many areas and as you bring cheaper energy, region ten, over the next few years, will become a manufacturing hub and so folks have to be ready to get into those markets.”
During a recent cabinet outreach in the region, President Irfaan Ali had announced the development of an investment zone for the region.
The Head of State had said that an investment zone was one of the potential conduits of opportunities that will identify and develop a joint relationship with the region’s private sector body and the government.
This, the President believes, will bolster economic growth, and increase opportunities in the region, and ensure private sector involvement in the process.
Additionally, President Ali, said that the government plans on working with farmers to develop a master plan which would guide development and stimulate an increase in the productivity of the region. This master plan will also encompass other sectors of the economy.