The University of Guyana (UG) and the Machinery Corporation of Guyana Limited (MACORP) have inked a Memorandum of Understanding (MOU) to foster national development through enhanced training and education at the tertiary level.

The two-year agreement was signed at the Cara Lodge Hotel on Quamina Streets, Georgetown, and in attendance were UG Vice Chancellor Professor Lawrence Carrington, MACORP’s General Manager Mr. Jorge Medina, UG Faculty of Technology Dean Mr. Sherwood Lowe, and other officials.

The pact will directly benefit the Faculty of Technology students by exposing them to more hands-on and real world experiences to complement their theoretical preparation.

Through the MOU, the faculty will also receive financial support to the tune of $850,000 annually, access to MACORP’s laboratory and testing facilities for university lecturers conducting research, accommodation for students on industrial attachment and students working on final year projects.

Faculty of Technology Information Liaison Officer Mr. Audwin Rutherford said the initiative has come into fruition following eight months of discussion.

He pointed out that the agreement reflects another of the machinery giant’s support to UG, which has in turn provided the company with trained personnel.

MACORP, he said will benefit from specific engineering programmes, other than the regular offerings of the university and the $850,000 per year will go towards the funding of final year projects and staff research, acquisition of books and instruction materials.

Professor Carrington lauded MACORP for being a willing partner with the Faculty of Technology and was hopeful that the evolving relationship will be mutually beneficial.

“I am a firm believer in the importance of social partnerships at this time; the economically active sectors of society need to become more and more closely related to the institutions that generate new knowledge and provide training for the essential productive sectors of the society,” he said.

Professor Carrington noted that the relationship with the MACORP and the Faculty of Technology is at the basic stage and he will engage Mr. Lowe and his colleagues on ways of bolstering ties with the company.

“We need to review our curriculum and to consider ways in which we can accommodate the new national perspectives for development. Indeed, we ought also to be leading the way towards exploiting the opportunities for innovation that are offered by the government Low Carbon Development Strategy (LCDS).

“We ought to be shaping the nexus between innovation and entrepreneurship in Guyana. That kind of forward looking extension of our partnership is something we wish to explore with you and we look forward to a dialogue that goes beyond the limit of our present understanding,” the Vice Chancellor stressed.

He said UG is not the wealthiest university in the world or the region; and consequently, it has developed a number of techniques to make do with its limited resources.

“ There are points when you need to extend yourself beyond your present limitation and try to make leaps forward; and in my opinion, it is by partnering with companies like your own, who have a vested interest in production of good technical personnel, that we will be able to meet some of these needs that are necessary,” Professor Carrington.

Medina said MACORP pursues its interest with the community development and the well-being of its workers in mind, and is open to exploring other activities that are beneficial to the company.

He said the company began operations here in 1993 and its relationship with UG started in 1995 when it donated a vehicle to the institution.

MACORP has also signed a MOU with the university to produce bio-diesel. The current programme, he said, is in keeping with the company’s mandate of fulfilling its social responsibility to the community.