GMSA bemoans lack of lands for farming, industrial use
opportunities by reducing administrative burden, creating the avenues for greater sources of financing and providing the infrastructure necessary for them to grow if they put the energy into it,” Jagdeo boasted.
Among the other issues plaguing the sector, according to Khan, are skills shortages and transportation to export products regionally.
He added that the need for human resource has grown this year as the oil and gas sector increases its demand for human capital.
In the matter of requiring containers for regional export, he said that while regional exports are expected to drastically increase, the need for less-than-containerload (LCL) freight services need to be available. Likewise, the need for increased air-cargo services is required.
Notwithstanding the challenges in the sector, Khan pointed out that natural resources from activities such as gold, quarrying, and sand mining are expected to see positive growth this year.
Quarrying activities, he said, are expected to increase with the issuing of 10 new quarry licences.
In the area of forestry, production has been up by 25% and exports up by 30% compared to the previous year. This, he said, is a good outlook for the sector.
With the construction of six new regional hospitals, he said, the local pharmaceutical industry stands to benefit from significant increase in demands for drugs.
Additionally, Khan also posited that food security and housing will be a major driver of the country’s economy for the next decade and beyond. He stated that the growing demand for food supply in Guyana and the Caribbean will give businesses the assurance to invest further and build more capacity for agro-processing.
According to him, the demand for housing will see a ripple effect for business opportunities for many other sectors, including services.
With the government’s gas-to-shore project slated to come on stream by 2025, he said, competitiveness is expected to increase from both old and new companies.
“Guyana has been for too long a primary producing economy but gradually shifting
to secondary and tertiary. This is where you see real growth in the economy
by focusing on value-added,” Khan highlighted.