-Agriculture Minister says; several ministers underscore nation’s vast potential

GUYANA is an ideal investment destination due to its diverse opportunities in both conventional and unconventional sectors, according to Agriculture Minister, Zulfikar Mustapha who encourages both local and international investors to explore these avenues.

During a panel discussion with the Public Works Minister, Juan Edghill, and the Minister of Tourism, Industry, and Commerce, Oneidge Walrond, Mustapha, along with his fellow government officials, spoke on their respective booming sectors.

According to the Agricultures Minister: “Over the years agriculture [has been] responsible for all our achievements in terms of infrastructural development, in the development of the country, and the contribution to our GDP, and also to create employment for our people.

Adding: “Agriculture has been [dominating] the economic landscape of our country and it will remain an important activity for us to move forward.”
While explaining that the nation is currently bridging the production gap in areas such as rice, livestock, sugar, etc., the Minister gave an insight into how this process is going.

In 2022, Guyana produced 610,000 metric tonnes of rice, in 2023, it increased to 653,000 metric tons and this year’s target will surpass that.
Moreover, there has been a remarkable upsurge in sugar production, with the output rising from 47,000 tons in 2022 to 60,000 tonnes in the previous year. The minister has announced their objective of reaching a target production of 100,000 tons.

He further stated that those two areas are strong areas for Guyana in terms of production.
Focusing on how Guyana is contributing to the ’25 by 2025′ objective, the Minister expressed the hope that in the coming year, Guyana will achieve self-sufficiency and become a significant exporter of corn and soya beans to other Caribbean Community (CARICOM) nations.

“So in terms of Guyana making that contribution to reduce the food import bill by 25 per cent by 2025, we have to be successful,” Mustapha remarked.
For context, the ‘25 by 25’ initiative is a pledge by the Heads of Government of the CARICOM to reduce the region’s food import bill by at least 25 per cent by 2025.

Research has shown that the region imports, from out of the region, approximately 80 per cent of the food that it consumes, which amounts to approximately US$4 billion.

Despite previous calls for increased domestic food production to reduce the high food import costs, the proposal gained renewed momentum among regional governments last year in light of the severe food insecurity caused by the Ukraine-Russia conflict.

The war had worsened the already existing food security concerns amid the COVID-19 pandemic. Guyana is widely recognised as a frontrunner in the region, capable of boosting regional production and addressing various gaps.
The government of Guyana has been investing a considerable amount of resources, including land and funding, into this initiative.

Additionally, the Public Works Minister stated that significant progress is being made in Guyana.
According to him: “Here in Guyana, we have carefully stated that oil and gas and the resources that come from oil and gas will be used to build out and make sustainable other sectors that over the long term will create employment…”
Moreover, while supporting her fellow cabinet minister in his outline of how Guyana is progressing, Walrond expounded on the potential within the tourism sector.

According to her, having access to global markets is the bedrock of the growth of the tourism market.
Shifting her attention to the new airline from the Dominican Republic, which was recently launched, the Minister underscored how Guyana’s prospects are bright.

For context, the opportunities for connectivity and trade between Guyana and the Dominican Republic have now increased as the inaugural direct flight from Santo Domingo landed on Sunday at the Cheddi Jagan International Airport (CJIA).
The airline, established in 2012 and based in Santo Domingo, the capital of the Dominican Republic, plans to operate three flights per week on Sundays, Tuesdays, and Thursdays. This will enhance connectivity between Guyana, the Caribbean, Latin America, and the United States.