THE Guyana Defence Force will be further integrated into the country’s economy with the establishment of a commercial arm of the military apparatus to support regional trade and food production.
This is according to President Dr Irfaan Ali, who, during an interview with journalists and students on Tuesday said that this initiative is among several that are being examined to propel the country’s agriculture and food ecosystem.
“We are now working on a commercial arm of the Guyana Defence Force to integrate our food production with that of the CARICOM market,” the President said.
In addition to this, President Ali said he met recently with the Prime Minister of Antigua and Barbuda, Gaston Browne, during which discussions highlighted interest from a group of young Antiguan entrepreneurs who are investing in transportation capacity and are looking to Guyana as a potential supplier of food to the island.
To this end, he noted that Guyana is on track to become a significant exporter of food to the Caribbean, citing major increases in agricultural production and growing investor confidence in the sector.
Guyana has already expanded production across several key areas, including poultry, livestock, eggs, aquaculture, corn, and soya. He noted that exports to the wider Caribbean are expected within the next two years.
Guyana is also moving into large-scale production of black-eyed peas and red beans, supported by sustained public investment in drainage and irrigation and the opening up of new agricultural lands. According to President Ali, these measures have helped restore confidence in the agriculture sector and have attracted international interest.
He said investors are now pursuing opportunities in large-scale swine and livestock production, as well as in sugar refining at the Guyana Sugar Corporation (GUYSUCO), the re-development of the Skeldon Estate, ethanol production, mega farms, hydroponic and vertical farming projects.
President Ali attributed this growing interest to Guyana’s policy direction. He said the country is now regarded as having a serious policy agenda, a supportive investment ecosystem and a range of incentives that encourage food production and agricultural development.
The President also pointed to significant growth in agricultural lending as further evidence of confidence in the sector. Loans from the banking system to agriculture and food production, he said, have increased sharply, driven by public investment in infrastructure and drainage and irrigation systems.
“That tells you the story that not only were we able to increase production, but we have been able to drive investment and create a business model in food production and agriculture that is globally attractive today,” the President said.