Massive investment opportunities between Guyana, Suriname – Dr Ramsaroop
-countries inked agreement to boost trade
Head of the Guyana Office for Investment, Dr Peter Ramsaroop, has underscored the expansive investment opportunities available in Guyana and the significant potential for partnerships with Suriname.
Speaking at the Suriname Energy Oil and Gas Summit (SEOGS) 2024 on Thursday, Dr Ramsaroop highlighted the close ties between President, Dr Mohamed Irfaan Ali and President Chandrikapersad Santohki, noting that the two nations are positioned to become key players in regional energy and food security.
Dr Ramsaroop also noted that the imminent completion of the Corentyne bridge, which will connect Guyana and Suriname, will facilitate easier business transactions and bolster trade between the two countries.
He emphasised the importance of integrating investment opportunities, indicating that a new wave of investments in Guyana is underway, driven by efforts to reduce energy costs and improve connectivity.
The chief investment officer pointed to the ‘Brand Guyana’ initiative, which promotes local products. He also advocated for linking the products between the two countries in sectors like agro-processing and manufacturing to tap into larger regional markets.
He also spoke of Guyana’s significant advancements in agriculture, particularly, in corn and soybean production, along with its burgeoning aquaculture sector, which has advanced the country’s food security and economic diversification goals.
On the other hand, Suriname’s rice and banana production ventures are progressing, and complemented by investments in its aquaculture industry.
Dr Ramsaroop said the two countries can combine their expertise and form joint ventures to create integrated supply chains.
According to him, the recently announced ferry service between Guyana, Barbados, and Trinidad and Tobago will boost market reach, trade efficiency, and agricultural collaboration between the two countries.
Meanwhile, the Guyana Office for Investment and the Suriname Investment and Trade Agency also signed a Memorandum of Understanding (MoU) to enhance trade and Foreign Direct Investment.
The MoU covers diverse areas of collaboration, ranging from information sharing and research to export and investment promotion.
The agreement was signed by Dr Ramsaroop, and the Director of the Suriname Investment and Trade Agency Amar Alakhramsing.
The Suriname Energy Oil and Gas Summit (SEOGS) 2024 ─ the country’s premier energy and offshore event, commenced on June 4 and is set to conclude on June 7.