Corn, soya bean production – a prime example of strategic public-private partnership locally

With a strong focus on unlocking more investment opportunities for sustained economic growth, the production of corn and soya bean in the Tacama area has been highlighted as a prime example of a strategic public-private partnership in Guyana.

This was underscored by Managing Director of Farfan & Mendes Ltd, Andrew Mendes, during the Chief Executive Officer (CEO) leadership panel discussion, at the Caribbean Investment Forum, held at the Arthur Chung Conference Centre, Liliendaal, on Thursday.

During the discourse that was themed, “Caribbean Titans Unite: Fueling resilience through bold investments” Mendes highlighted the success of the initiative, where four major private producers cultivated approximately 10,000 acres of corn and soya beans in 2023.

This project, supported by the government, aims to reduce Guyana’s dependency on imports by achieving self-sufficiency in livestock feed production by the end of 2025.

The initiative has already seen over $1.4 billion invested in infrastructure and technology, advancing climate-smart agricultural practices.

“Our import of corn and soya beans in Guyana is 130,000 tonnes per year. So, that is the market, that is the facilitator for this investment. It was actually President Dr Mohamed Irfaan Ali who engaged with some of the poultry producers to get involved in this project and they rose to the challenge in a partnership, to deliver on the project,” Mendes explained.

The country is on track to achieve self-sufficiency in producing all its livestock feed by the end of 2025, significantly reducing dependency on imports. This effort is expected to notably lower meat costs, especially for poultry and other meats.

Mendes also mentioned investments in technology, such as field maps, GPS locators, drones, and multi-spectral cameras, aimed at advancing climate-smart agricultural practices to enhance productivity in the Tacama area.

The other panelists included Vice-President of Citi Environmental and Social Risk Management, Ryshelle McCadney; Chief Operating Officer of the Caribbean Office (ag) African Export-Import Bank, Okechukwu Ihejirika, and Director of Global Business Development Global Integrated FinTech Solutions, Dave Sahadath.

They underscored the need for robust partnerships to help support specific, resilience-building projects that are targeted to improve resilience like energy projects and more funding in the agriculture sector, to advance sustainable development in the sector locally and regionally.

Other areas of discussion include other investment opportunities that are available in information and communications technology (ICT) business outsourcing and e-commerce.

The forum was held under the theme ‘Transforming our future, Empowering Growth.’