Gov’t working to make Guyana Caribbean’s industrial capital
The industrial and manufacturing sectors will see a breakthrough when the Gas to Energy (GtE) project begins operation.
While high energy costs are a challenge, the People’s Progressive Party/Civic government aims for an industrial and manufacturing sector focused on technology, strategic research and development investments, and skilled workers to succeed in a global market.
Once the GtE project is operationalised, it will reduce electricity rates by 50 per cent. This will make manufacturing enterprises more viable and globally competitive.
The administration hopes to realise this vision through collaboration with the public and private sectors, making Guyana the industrial capital of the Caribbean.
As part of the government’s future agenda, it plans to complete the industrial estate at Wales which will host a vast complex of industrial and manufacturing enterprises, including the manufacture of enough cooking gas to meet and exceed domestic requirements as mentioned earlier, along with ammonia and urea for use as fertiliser, and establishment of a hub to use the electricity for other manufacturing.
A similar industrial estate will also be constructed in Region Six, where private capital could be mobilised for activities like oil refining, alumina refining, fertiliser manufacturing, and a new petrochemical industry.
The government also plans to work with the private sector to achieve full occupancy at existing and soon-to-be-completed industrial estates at Belvedere, Lethem, Onderneeming, and York, which were established over the last five years.
There are also plans to establish a Small Business Development Complex in Georgetown. The vision is to provide small and medium enterprises with organised spaces and proper infrastructure so that they can grow their businesses and operate more efficiently.
The mini-industrial and commercial zones will be set up to move specific types of businesses, improving the quality of life in residential communities.