–GMSA President highlights, encourages international businesses to establish partnerships and enter the market now
–Suriname-Guyana Chamber Chair says it’s time for strong long-lasting economic relationships

WITH significant headway being made in Guyana by the government to slash energy costs for all consumers by more than 50 per cent, President of the Guyana Manufacturing and Services Association (GMSA) Ramsay Ali has said that this move will trigger growth in the manufacturing sector.

Ali expressed this view at the opening session of the inaugural International Business Conference (IBC) being hosted in collaboration with the Suriname-Guyana Chamber of Commerce, and the GMSA at the Guyana Marriott Hotel in Georgetown.

The GMSA President said that the cost of energy in Guyana is going to be reduced by more than 50 per cent, but what is important is not only the cost of energy but also the quality of energy, which, he said, is something that is significant for the manufacturing sector.

“Not only are we going to be benefitting from the cost of energy going down significantly, but the grid. A significant amount of money is being spent on the grid to get that to a place where manufacturers can be comfortable,” he said.

To this end, he provided an example of how this intervention to slash energy costs and provide a better quality of energy can lead to projects such as the possible opening of a glass bottle factory here.

A study had been ongoing in that regard to ascertain the feasibility of having such a facility operate here in Guyana.

However, he went on to add that thinking about this move is more than the gas-to-shore project that is currently underway, and added that the move to cut costs includes energy from different sources like hydropower and solar energy.
“We are finally going to move away from the place where we are no longer suffering from the cost of energy for manufacturers in Guyana,” Ali expressed.

With this in mind, he told the gathering, which consisted of regional and international business representatives, that it is an exciting time in Guyana as a manufacturer or a person who works in manufacturing, given what is ahead for the sector.

As such, he encouraged those who are interested in and are thinking about getting involved in Guyana’s manufacturing landscape to make their move now, as opportunities will not always be available.

Ali added, “The time is now; there’s a lot of opportunities here in this country for manufacturers, and lots of companies you can start to work with.”

Meanwhile, in this same regard, Chairman of the Suriname-Guyana Chamber of Commerce Dr. Vishnu Doerga highlighted that the IBC exemplifies the collaborative power of the private sector, with government providing crucial facilitation and support.

He, too, encouraged the private sector in both Guyana and Suriname to invest in key sectors, knowing that with the right backing, businesses can thrive, and the economy can prosper.

“The IBC is not just a business event; it’s a powerful platform for growth, collaboration and partnership,” Dr. Doerga said.

He urged those present to make necessary connections that will continue building on the progress already made across the region.

He went on to note, “We need each other,” while adding that moves must be made so that there are mutually beneficial relationships that are fostered to show gain for their own countries.

“We want strong, long-lasting economic relationships,” Doerga added.