Berbice businesses urged to invest in non-traditional business
– “reorient and diversify Guyana’s economy”
DPI, Guyana, Saturday, October 6, 2018
Residents of Berbice were encouraged by Minister of Business, Dominic Gaskin to “reorient and diversify Guyana’s economy” by reducing reliance on the traditional sectors at the fourteenth annual Berbice Expo and Trade Fair held at the Albion Sports Complex under the theme “Advancing Economic Progress through Professional Standards and Entrepreneurship”
The minister said that “as Guyana develops, new economic activities will emerge,” noting that “businesses must adapt to a new economic reality”.
Minister Gaskin remarked that “over the next fifteen years, Guyana’s economic transformation will be guided by the Green State Development Strategy (GSDS) which will be the blueprint for inclusive economic and social growth,” adding that “the petroleum sector will drive rapid growth while the Green State Development Strategy will channel this growth across all sectors of the economy.”
Businesses and investors were encouraged to “position themselves to maximize opportunities that will arise, not only from direct participation in the petroleum sector, but from spinoff demand in many other sectors that will follow.”
Minister Gaskin emphasized “right now, it is very important that we focus on implementing standards and improving the quality of and consistency of what we do.” He explained that Guyana is now “at a junction where we can either go right or wrong” adding that “if we go right, we can enjoy a bigger share of the benefits of the oil that we own.”
Residents were told that two of the most important resources of the future are arable land and fresh water and were reminded that the county of Berbice is rich in both. They were encouraged to “become resilient” and to “think outside the box” when looking at new avenues for development. They were also told to invest in non-traditional businesses in the region and utilise “the abundance of resources”.
By. Anara Khan
Images: Keno George