GuyExpo provides attractive investment opportunities and business, consumer network base – Minister Prashad
…at opening of GuyExpo 2010

Guyana’s feasible investment climate and its advantages as host to the Caribbean’s premier trade fair and Exposition (GuyExpo) were highlighted by  Minister of Tourism Industry and Commerce Manniram Prashad at the opening of Guy Expo 2010 at the Sophia Exhibition Site Thursday evening.
Minister Prashad outlined some of the benefits that the event would bring in terms of attracting investments as it provides the base for businesses and consumers to network and negotiate.
Investment:
He said new and expanding investment is one of the main benefits since Guyana is an investor friendly country as Government continues to provide an enabling environment with policies and procedures to facilitate investors and to reduce and eliminate the factors that affect smooth business transaction.
Government has contributed to an investor friendly economy with stable macro-economic policies, increased investments in public services and an improved business and investment climate to enhance national competitiveness.
In this regard the National Competitiveness Strategy (NCS) was implemented to further improve the investment climate and support the expansion of non-traditional export sectors.
The Minister urged investors to take advantage of the “excellent incentive package” that is available to both local and foreign investors while challenging them to develop new products and services of high standards.
He also made reference to the Amaila Falls hydro project which will serve to boost the country’s manufacturing and production capacity through the provision of affordable, adequate, renewable and reliable energy.
He acknowledged President Bharrat Jagdeo’s leadership in climate change issues and his commitment to promoting a sustainable environment which won him the “Champion of the Earth” award and a signature investment in the Amaila Hydro project.
Manufacturing and Services Sector
The Minister noted the opportunities that exist within the manufacturing sector given the following factors:

• the Guyana brand name is a hallmark for quality and reliability
• entrepreneurs are willing to take risks and invest
• the presence of a skilled and innovative labour workforce and
• excellent location and abundant and fertile land.

He noted the interventions to forge a knowledge-driven environment through the upgrading of skills and intensifying innovative development in the manufacturing and services sectors through research and development, design, production, supply chain management, and strategic marketing.
He underscored Guyana’s commitment to maintaining the manufacturing sector as a key pillar of the economy and a significant contributor to the Gross Domestic Product (GDP).
Tourism
Diversifying the economy remains a priority for Government so that investors can be provided with expanded opportunities to explore new sources of income, employment and export growth, the Minister said.
He noted that significant growth was seen in the tourism sector which resulted from a market led approach which increased the number of  international companies’ selling ‘Destination Guyana’ to 100.
This, he said, also increased tourist arrival trends with a 9.3 percent increase in July and an 11.5 percent increase in August.
Minister Prashad welcomed exhibitors from Brazil, India, Mexico and Suriname who have come to GuyExpo to showcase their creativity, skills, entrepreneurship, products and services. He added that Guyanese products, arts, culinary delights, science and technology will also be showcased at the expo.
He commended the Private Sector Commission, the Guyana Manufacturing and Services Association, the Chambers of Commerce and entrepreneurs for their invaluable contribution to enhance, expand and improve the manufacturing, production and services capacity.
The theme for GuyExpo 2010 “Expanding investment in a sustainable environment” Minister Prashad said is “visionary, timely and relevant in attaining Guyana’s aspirations to move towards a low carbon economy.”
  

Relief channel is about investing in development of Guyana- Minister Persaud during EDWC commencement of work ceremony

In its continued effort to advance the agriculture sector, Government has embarked on several initiatives by taking a proactive approach in offering assistance to communities affected by uncontrollable natural phenomena such as flooding and El Nino.
            As major emphasis continues to be placed on the development of key drainage structures, residents and farmers of Mahaica and Mahaicony today witnessed the National Drainage and Irrigation Authority’s commencement of work for the East Demerara Water Conservancy (EDWC) Northern Relief channel at Hope/Dochfour, East Coast Demerara.


Attendees during the commencement of work ceremony for the EDWC northern relief channel at Hope/Dochfour

            In attendance were:- President Bharrat Jagdeo, Minister of Agriculture, Robert Persaud, Chief Executive Officer, NDIA, Lionel Wordsworth, CEMCO’s lead Consultant, Raymond Latchmansingh, representatives from the National Agricultural Research Institute, New Guyana Marketing Corporation, and technical officers from the Ministry.
            Minister Persaud while addressing the gathering said that the project was initiated in 2008, when the country had recorded a higher level of rainfall, and pointed out that due to infrastructural work and investment by Government a major disaster was prevented.
            Recognising the threat communities on the coast face, caused by the changing weather pattern, President Bharrat Jagdeo made a visionary announcement, hence the commencement of the project.
            As it relates to the technical aspect of the project, Minister Persaud said that although it was a long awaited project the Administration was not going to commence work with undue haste.
            “It is a project that we must carry out with some degree of urgency but we will not sacrifice technical work and studies, and the range of work that the experts would have to carry out on just getting this project done,” he said.
            After going through a series of tests and analysis, levels of consultation and interactions were conducted with stakeholders and farming communities so as to garner different perspectives so that the project would have endured engineering scrutiny.
            “We wanted to ensure that the process goes through the technical rigour so that at the end of the day, no one can say that we omitted some technical details. There may be matters of perspective but certainly the technical merits were clear. The critics out there cannot fault us for having a poor technical approach to this project,” he added.
            Government has over the years maintained it commitment by putting the interest and wellbeing of farmers first and according to Minister Persaud the project is about investing in the agriculture sector and the development and safety of people not only on the East Coast but also in the Capital.
            He is confident that once the project if executed successfully, it will bring tremendous benefit to farmers.
            “On the East Coast we are investing in drainage and irrigation for current productive land, we are bringing back lands that were abandoned and retired for different reasons but also we are looking at the beneficial use of land that is south of the Crown dam,” he said.
            The $56.4M project which is expected to conclude within 24 months will benefit thousands along the coast, while allowing the country to have better water management in dealing with the effects of climate change.
            Wordsworth while giving an overview and status of the project said that since the construction of the EDWC, the facility has suffered breaches in the past, pointing out that in 2005, ten percent of the north eastern section of the embankment suffered overtopping.
            However, Wordsworth indicated that there have been improvements with the re-opening of internal waterways within the conservancy along with the implementation of the Kofi sluice which is currently ongoing.


Minister of Agriculture, Robert Persaud addressees the gathering during the commencement of work ceremony for the EDWC northern relief channel at Hope/Dochfour

            “Over the years, we have explored various options of creating an additional outlet for the East Demerara Water Conservancy to manage accumulation especially along the east and north section of the conservancy catchments,” he said.
            According to the NDIA, CEO technical studies were done on additional outlets at Nabaclis, Hope/Dochfour and Belmont in the past and based on the studies a decision was taken to build the EDWC outlet.
             As part of the project, 14 long reach excavators were procured by Government to successfully carry out works.
            He added that the equipment coupled with the operational cost would save Government at least 60 percent of the cost that it would have spent if the Ministry had contracted the works.
            During the process of the design, a technical oversight committee was established by the NDIA, tasked with reviewing reports submitted by the consultant.
            Meanwhile, CEMCO’s lead consultant, Raymond Latchmansingh while delivering the project analysis, made reference to the challenges presented by the topography, logistics and access with regards to the completion of the structure.
            He pointed out that hydrological equipment had to also be imported but noted that with the substantial work that has to be done, the area has a 1000-year return period.
           

         

New EDWC channel necessary if country is to rise to challenges of climate change
-President Jagdeo tells gathering during EDWC commencement work

The Agriculture sector is a major contributor to the growth and development of Guyana’s economy and to ensure that the country’s landscape can withstand the effects of changing weather pattern, the Administration has been dedicating resources and implementing measures for adaptation.
            Today, President Bharrat Jagdeo witnessed the start of work on a new relief channel at Hope/Dochfour at the Wast Demerara Water Conservancy (EDWC) that is expected to significantly change the circumstances of people in East Coast Demerara communities who have suffered from flooding for decades.


President Bharrat Jagdeo addresses gathering at commencement of work on a new relief channel at Hope/Dochfour at the East Demerara Water Conservancy (EDWC) 

            “Today is a special day for me because it marks the beginning of the finding of a long term solution to people’s problem…what impressed me each time I visited affected persons in these communities were their resilience, and generosity in the face of these adversities,” he said.
             He noted that the initiative is not just a technical solution to a problem, but one which will significantly change the circumstances of people who have been affected, due to there being no alternative to releasing water into the Mahaica/Mahaicony/Abary areas.
            While expressing his satisfaction for the project, the Head of State said that persons can now look forward to a period of stability, and accumulation of wealth, as there will be no severe flooding after every rainy season and all will not be lost.


President Bharrat Jagdeo and Minister of Agriculture Robert Persaud unveil signboard at the site of the new relief channel at Hope/Dochfour

            Citing the need for more to be done, President Jagdeo said that the Administration would not be able to completely prevent flooding but to alleviate it. He was at the time referring to questions posed by sections of the media as it relates to the economic feasibility of the project.
            “They would say the Government shouldn’t be building this,  it’s too expensive but I say nothing is too expensive if it will change people’s lives particularly those who live in the MMA areas. No project can be too expensive. It might be difficult to finance but it can’t be too expensive,” he stressed.
            Recalling the hardship people in the community face, due to flooding, he said that the initiative from every perspective will be a feasible one; since it is one of the biggest funded projects directly from Government’s coffers.
            He pointed out that no loan or foreign grant will be taken to support the project but will be financed directly from the Administration’s budget, indicating that the reason this can be done, is due to the diligent management of the economy.
            “The reason we can do this is because we have changed our country in a way where today, the budget has the capacity to finance projects that are of importance to our people; whether in agriculture, education or health care,” he said.


An excavator digging the conservancy

            “There was, a time not too very long ago when the fiscal deficit was 25 percent of GDP and the banks’ payment deficit was 47 percent of GDP. Every four years we double our debt because we had to finance a fiscal deficit that was 25 percent of GDP,” he said.
             The Head of State while pledging his Government’s support, said that today the economy can now boast of a sustainable balance of payment position which is the lowest ever in history.
            The President emphasised the Government’s happiness at being able to finance the project, pointing out that it entailed hard work to arrive at the stage where funding projects could have been done.
            The technical work was also lauded by the President as being vital despite the delay. President Jagdeo recently met with the Japanese Ambassador and it is anticipated that additional assistance is expected.
            Apart from the present investment, approximately $1B has been invested by Government in strengthening drainage works in the MMA areas. This include;- the construction of larger canals, enhancing river defences and rehabilitation and construction of sluices to better manage the country’s water system.
            This, according to President Jagdeo, is critical as it is expected that Guyana will be a major agriculture provider and as such D&I is vital if the country is to succeed in this regard.
            While pointing to the inaction of the developed world as it relates to the lack of commitment to deep emission cuts, he said that the world is on a pathway to an even steeper rise in emission levels and as such, the project is necessary if the country is to rise to the challenges of climate change.
           
                  

Guyana’s involvement with EU forest governance, trade programme a stepping stone for country’s future
–Minister Persaud

Minister of Agriculture, Robert Persaud has emphasised the need for society to protect Guyana’s rain forest; since it is of tremendous importance, not only as a contributor to the timber and forest product sector, but also in the fight against climate change.


Minister of Agriculture, Robert Persaud (third from right), flanked by Representative of the European Union, facilitator of FLEGT, John Bruneval, Member of the National Toshao Council, Yvonne Perason, President of the Forest Product Association, Hilbertos Cort, Chairman of the Guyana Forestry Commission Board, Raj Singh and Charge de’ Affairs of EU delegation to Guyana, Norbert Probst

            Referring to President Bharrat Jagdeo’s advocacy at the United Nations recently; for the recognition and role the forest plays in the climate change fight to be underscored, Minister Persaud said Guyana’s engagement with the European Union (EU) Forest Governance and Trade is a major stepping stone to determine the country’s next step.
            The Minister was at the time delivering the feature address at the Guyana Forestry Commission’s national workshop today; at the Guyana International Conference Centre, Liliendaal.
            The workshop drew participants from the European Union, Forest Law Enforcement Governance and Trade Programme (EU FLEGT), Forest Product Association (FPA), Guyana Forestry Commission (GFC), National Toshaos Council (NTC), and the Private Sector.


Attendes, during the closing ceremony of the Guyana Forestry Commission’s national workshop, at the Guyana International Conference Centre, Liliendaal.

            The initiative is the second such engagement with Guyana and the EU FLEGT for 2010.
            “As part of our commitment to consultation, the main purpose was to share information and better inform local stakeholders about EU FLEGT as we explore Guyana’s possible engagement in EU FLEGT with an aim of entering into a Voluntary Partnership Agreement, ” Minister Persaud said.
            He told the gathering that the Head of State at the 65th session of the United Nations General Assembly recently emphasised that if the international community is prepared to be held accountable, developing countries will not be found lacking.
            Guyana signed a MoU with the Government of Norway, which would outline a cooperation framework for the next five years.
And according to the Minister with responsibility for forestry, today’s activity is in keeping with Guyana’s commitment to the MoU, which would see a commencement with the EU for a formal dialogue on its Forest Law Enforcement, Governance and Trade processes and the Voluntary Partnership Agreement (VPA).


Minister of Agriculture, Robert Persaud delivering at the Guyana Forestry Commission’s national workshop, at the Guyana International Conference Centre, Liliendaal.

            The Minister while indicating that the EU has always been an important region for the country’s forest products export; said that Guyana’s total forest products for 2009 were valued US$4.55M.
            Already for the first half of this year, the export rate has reached US$3.35M compared to US$1.5M for 2009. Guyana’s total export value to the EU accounts for approximately 14 percent of Guyana’s total forest export market in terms of value for the first six months of this year.
             “The 14 percent accounts for dressed and undressed lumber, piles and a small amount of splitwood, however, there is notably no log export to the European market for 2010 thus far.”
             Representative of the European Union, facilitator of FLEGT, John Bruneval while noting that the workshop which was deemed positive is a starting point, however, said there is a need for more internal debates.
            While indicating that the way forward is a choice for society, Bruneval said that the initiative is a good basis to think of technical issues to assist the implementation.
            Meanwhile, the workshop was appreciated by President of the Forest Product Association, Hilbertos Cort and Chairperson of the National Toshaos Council, Yvonne Pearson who both said that there should be no difficulty in progress being made under the EU FLEGT.