Singh plugs investment in Guyana at Oxford summit
Stabroek News
March 24, 2007
The Guyana High Commissioner to the United Kingdom Laleshwar Singh has called on the British and European businesses at an Oxford business summit to invest in Guyana now, ahead of a major investment forum scheduled for May.
According to a press release from the Guyana High Com-mission in London, Singh made this call while addressing the Europe Business Assembly Oxford Summit of Leaders on March 19, at Oxford, United Kingdom.
The high commissioner told representatives from more than 20 European countries that now is the time to invest in Guyana since the business climate is positive, investor friendly and open to innovations.
Singh told the business representative that Guyana is committed to regional integration and that the country's role in this regard is significant since world economic affairs are increasingly being influenced by collective interests on issues such as market access and size, removal of barriers to trade, provision of common services and harmonized financial regulations.
The Caricom Single Market and Economy, the High Commissioner said, provides scope for market expansion and other advantages that go well beyond the country's borders and create a single economic space like the European Union. This single economic space allows for more efficient utilization of regional resources and encourage international standards of production.
"Guyana is an emerging economy with enormous potential," Singh said, adding that the country's geographic position at the gateway to the Caribbean and South America along with its natural resources, access to key markets, English speaking population and affordable labour are attractive opportunities.
Guyana's proximity to South America gives the country potential access to the continent's 277 million consumers. Agriculture and agro-processing, seafood and aquaculture, forest products, information technology, manufacturing, mining and tourism were identified as some areas which have opportunities for investors.
Following President Bharrat Jagdeo's participation in the Caribbean Investment Conference in London, the Guyana High Commission has been engaged in a series of follow-up investment driven initiatives, the release said.
In addition, the High Commission is expected to host a major investment forum in May 2007.