Go-Invest anticipates creating some 5,725 jobs in 2018

DPI, Guyana, Thursday, February 1, 2018

Some 5,725 jobs are expected to be created this year through the Guyana Office for Investment (Go-Invest) as the agency anticipates investments totalling $154B.

According to Minister of Business, Dominic Gaskin the agency has already seen interest in a number of sectors. The Minister noted several foreign investors have shown interest in servicing the oil and gas sector, and many businesses have shown interest in the agriculture and construction sectors among other areas.

“We are interested in local investors too. There is a lot of liquidity in the system that is not being put to use, and we would like to see some of that money invested in value-added industries in Guyana,” Minister Gaskin said.

He added, “we are also trying to encourage local investors – where they may not have adequate financing for projects or the requisite experience, especially at an international level – to seek joint venture partnerships with companies that have the expertise”.

Additionally, in 2018 the Ministry of Business, GO-Invest, and the Caribbean Export Development Agency will collaborate to host Guyana’s first Business to Business exhibition.  This event is expected to attract participation from 75 companies and seeks to foster ties between local sellers and international buyers, with a view to boosting exports and attracting investments.

In 2017, the investment portfolio of GO-Invest was restructured to ensure greater diversification within the economy.  There was a special focus on the tourism, agriculture, and light-manufacturing sectors as the agency endeavoured to target $139.8B in investments.

In 2017, the agency hosted and participated in several business forums to foster investment in the country. Recently, GO-Invest participated in FIHAV, the largest trade fair in Havana, Cuba which saw over 1,000 companies participating. Throughout the five-day expo, Guyanese products and services exhibited garnered much interest.

 

By: Crystal Stoll

 

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