–Rupununi Chamber of Commerce President says
ECONOMIC challenges in Lethem, Region Nine (Upper Takutu- Upper Essequibo) were rife over the past two years, owing to the restrictions imposed to limit the spread of the novel coronavirus.
This situation has, however, changed as business in the town is booming again, according to President of the Rupununi Chamber of Commerce and Industry (RCCI), Daniel Gajie.
Gajie, in an invited comment, said trade between Lethem and neighbouring Brazil has been improving all the time.
In fact, the RCCI President said: “It is probably at its best ever in our history.”
There are numerous factors that could be contributing to this but the reopening of the Takutu Bridge, which is the land crossing between the two countries, has allowed people on both sides of the border to trade once more.
This border was closed in the earlier months of the COVID-19 pandemic, largely to protect the Guyanese population from the surge in COVID-19 cases and the emergence of new variants in Brazil.
And now that trade has resumed, Gajie believes that the upcoming Christmas season will augur well for businesses in Lethem since more Brazilians and locals will be out shopping.
Beyond the Christmas season, the RCCI President anticipates positive developments for Region Nine overall. He is keenly awaiting a substantial budgetary allocation from the government when the 2023 National Budget is presented next year.
“We anticipate a good budget, a budget that will support the private sector development; so once we get that together with private sector initiatives, we are looking forward to 2023 being a year we can have an all-round positive development,” Gajie said.
Given that the private sector of Lethem has always partnered with the Government of Guyana, the RCCI President said that they look forward to continuing and improving on that partnership in 2023 and they look forward to being more inclusive and consulted in a meaningful way.
Aside from the Gajie’s position on business development in the region, it is important to note that there are major developments planned for Region Nine that could see business expand even further.
The government, through its revised energy mix, is also looking to triple the power supply in Lethem.
Vice-President, Dr. Bharrat Jagdeo had announced plans for hydropower at Kumu and the rehabilitation of the Moco Moco Hydropower station, which would supply .7 megawatts of power. So, together with the Kumu project, that is 2.2 megawatts of electricity for Region Nine.
The aggregate supply of 2.2 megawatts plus the one megawatt produced by the solar farm would give Lethem three times its current capacity. The town’s peak demand is about 1.1 megawatts of power.
“We would have almost triple the capacity and this is all coming from renewable energy, which would allow a massive growth in industrial estates and industrial plants for that area, and also residential purposes,” Vice-President Jagdeo had said.
Sitting at the southern end of Guyana, Lethem borders Brazil, which is a known economic powerhouse in South America. The availability of reliable and cheap electricity would, therefore, inevitably draw consumers and developers to Lethem.
“If the entire Lethem is running on renewable energy, money is saved; there would be a budgetary balance of payments impact, welfare impact and a business impact,” Jagdeo reasoned.
Guyana is also hoping to develop an energy corridor in collaboration with Brazil, Suriname and possibly French Guiana that could see the countries’ energy resources (including natural gas) satisfying domestic and regional needs.
