Showing investment confidence
Editorial
Guyana Chronicle
August 24, 2003
THE OPTIMISM being shown in Guyana's economic development by Caribbean business magnate, Lawrence Duprey, must be encouraging for both the Government and private sector of this country.
As one of the best known entrepreneurs of the Caribbean Community, whose business interests goes well beyond the region, Duprey seems bent on matching words of encouragement with practical and meaningful business investment in Guyana.
The latest example came last week with the Memorandum of Understanding signed between the Guyana Sugar Corporation and Angostura of Trinidad and Tobago, a member of the family of businesses, including insurance and a range of investment projects headed by Mr Duprey.
The US$10 million project signed between Angostura and GUYSUCO has come at a time when perhaps regional investors are themselves are being inspired by the faith demonstrated by some of Guyana's best known entrepreneurs and business corporations in the future growth of the country after a dismal period of destabilisation politics and criminal rampage.
Data just released on Guyana's foreign trade performances, as reported in our yesterday's edition, also point to signs of economic growth with rise in exports of vital foreign exchange earners as sugar, gold and timber.
"Branding" Guyana
As Duprey observed at the signing ceremony for the US$10 million investment for the manufacturing of alcoholic beverages, with good management, Guyana could emerge as a leading economy with CARICOM's Single Market and Economy in a relatively short period.
He said his corporate interest stood willing to help in introducing a "Guyana Brand" on the global marketplace for products such as pineapples that could successfully compete with exports from other countries.
However, while regional investors of the stature of Duprey are prepared, along with those here at home, to show confidence in Guyana, there still lingers that anti-Guyana spirit in some political quarters that seem to major more in criticisms than in offering words of encouragement for national development---in the interest of Guyana and all its peoples.
It is also relevant here to remind the Government of Trinidad and Tobago, home of Duprey's central operational base, that while Angostura is moving to become a partner in this country's development process, there has been the surprising development of licence being granted in Port-of-Spain to allow for importation of refined sugar in that country, contrary to an earlier understanding with Guyana that also has the approval of CARICOM.
The Patrick Manning Government may wish to review this matter to determine how to correct an error of judgement in the interest of the very good relations Trinidad and Tobago wishes to pursue with all of its CARICOM partners.