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.”