–says Dr. Ramsaroop

AS Guyana comes closer to the reality of low-cost energy by 2025, Chief Executive Officer (CEO) of the Guyana Office for Investment (Go-Invest), Dr. Peter Ramsaroop, has said that it is expected that more investors will explore the areas of agro-processing and manufacturing in time between 2023 and 2024.

In a telephone interview, he related that there will be more investments in large-scale agriculture in dairy farming and the expansion of the “other crop” sectors such as soybean, and the hemp industry since the Hemp Bill was recently passed.

In addition, he said that close to 100 companies, both foreign and local, were able to apply for and were granted government concessions in 2021 and 2022.

Guyana’s government continues to support and promote investments in the agro-processing sector.

Two new agricultural processing facilities are anticipated to open in Region Six’s Crabwood Creek and Orealla in 2023, according to the Department of Public Information (DPI).

The administration’s efforts to enhance food security and support broad-based sustainable economic development depend on these initiatives, and by giving agro-based products more value, it raises household incomes and creates new avenues for export revenue.

The government has taken measures in recent years to promote and encourage investments in agro-processing.

Several areas across the country, including Parika, Fort Wellington, St. Ignatius, and Watooka, established agri-business incubators in 2022.

Progress was also made on the equipment acquisition for agro-processing and packaging factories in Sophia, Parika, and Mabaruma.

Additionally, significant progress was made on the construction of new processing facilities at White Water Creek and Charity, which are expected to be commissioned in the coming quarter.

A new cold storage facility will be constructed in Bartica, and two new refrigerated trucks will be procured to support the transport of inputs and agricultural products.

Agro-processors will also benefit from the establishment of a new Guyana Shop and a marketing information centre in Bartica.

The government is also planning to establish a regional food hub, which will provide a strong boost to agro-processing and value-added food production. This will help to create jobs, increase exports, and improve food security for the country.

Meanwhile, to further commercialise value-added production through agro-processing, a $37 million state-of-the-art food-processing factory was commissioned at Fort Wellington, West Coast Berbice.

The investment will see approximately 700 persons including farmers, agro-processors, women, youth, and other stakeholders from Regions Five (Mahaica-Berbice) and Six (East Berbice Corentyne) benefitting from improved services geared at increasing the value and extending the shelf life of their products.

Meanwhile, Guyana’s agro-processing capacity was enhanced even further, with a $37 million investment in the New Guyana Marketing Corporation (GMC) in July 2022.

The investment saw the commissioning of six water tanks, two forklifts, four pallet jacks, five trolleys, and one sewing machine at the GMC’s Sophia location.

Additionally, in November 2022, a $15 million agro-processing factory was opened in St Ignatius, Region Nine (Upper Takutu-Upper Essequibo). Farmers there now have the opportunity to process peanuts and cashew nuts.

Guyana is also seeking assistance from India in the form of technology and skilled manpower in the agriculture and agro-processing industries, intending to become a leader in the Caribbean Community.