Guyana untapped market for Barbados entrepreneurs
--- Ameritech CEO
By Linda Branch
Guyana Chronicle
February 27, 2004
BRIDGETOWN, Barbados (Advocate) -- BARBADIAN entrepreneurs should jump at investment opportunities in Guyana and the lesser developed islands in the region to stay competitive in an aggressive, global market.
That's according to the chief executive of Ameritech Global Services Limited.
"Careful research should be done but you will find especially with the Guyana Government who is looking for strategic participation in that country's businesses, there is a ton of opportunities," Ricardo Jarvis said in an interview with the Barbados Advocate Monday.
Mr. Jarvis has already put action in to words and taken advantage of opportunities in Trinidad and Tobago, Saint Lucia and St. Kitts/Nevis. The next stop for his information technology and communications company is a multi-million dollar venture in Guyana.
Added Mr. Jarvis: "Sometimes we get caught up in our day to day whatever. But we should also at the same time build and strengthen our base by looking outside of where we are at. You can't really compete in globalization by just being in one local market; you must expose your company to other things."
Rockville-based Ameritech will be taking part in a three-day show of Guyanese products and of the country's potential at Grand Barbados Beach Resort. Guyana Office for Investment (GO INVEST), Guyana's investment and export promotion agency, is the event's organizer. Both the Barbadian Chamber of Commerce and Industry and the Barbados Manufacturers' Association are supporting the Guyana Trade Expo.
According to Mr. Jarvis, Ameritech began exploring business opportunities in Guyana in 2002 and anticipates getting a call center, information technology and communications business operations by April. This venture will be located in Linden and Georgetown.
The Guyanese government, which is a partner in the venture along with investors from India and the United States, has spent approximately US$1.8 million to refurbish and prepare a 30,000 square foot building in Linden, noted Mr. Jarvis. The Barbadian architect firm Selby, Rose and Mapp was hired for the project and Guyanese contractors are expected to have it completed by the end of this month.
"By April we'll have about 200 people working there," stated the CEO, whose seven-year-old company also operates in England. Ameritech's business partners include Darcan in India and Haynes & Associates in Washington, DC
Mr. Jarvis, who in 2000 received the Ernest & Young Caribbean Entrepreneur of the Year award in the services sector category, said the Guyana venture has already secured contracts to the offshore sector with some American and UK firms. South America will be targeted in the future.
Since his foray into Guyana, Mr. Jarvis has developed a close working relationship with President Bharrat Jagdeo's office and those of other senior government officials and has been working to strengthen trade and development relations between Barbados and its fellow CARICOM member, as well as eastern Caribbean islands. President Jagdeo is scheduled to formally open the trade show in Barbados this afternoon.