The Guyana Office for Investment (Go-Invest) has declared Guyana open for business after President Bharrat Jagdeo briefed a group of Russian businessmen on the country's business prospects.
A press release from the Government Information Agency (GINA) yesterday said Jagdeo, during a visit to the Russian Federation's Chambers of Commerce, told more than 50 representatives and the Chamber's president E M Primakov about the prospects for trade and investment co-operation between the two countries. The president lauded the ties between the countries' business organisations and used the opportunity to invite members of Russia's private sector to Guyana to strengthen those ties. GINA said Russian Aluminum giant RUSAL has invested US$20M in the bauxite industry.
GINA said both countries were pleased at the move to establish formal co-operation links through an agreement signed in 2005. According to information received from the Russian embassy in Georgetown, Primakov pointed out that under that agreement Russia will be prepared to receive a delegation of Guyanese entrepreneurs this year. GINA said representatives from Molocont, a conglomerate of mini milk processing factories held a presentation for Jagdeo explaining its operation. Jagdeo was also briefed on the system of education for foreign students at the Kursk Polytechnical Institute.
Head of the Privatisation Unit Winston Brassington accompanied Jagdeo on the trip.