Filipino port management company wants to invest in Guyana
A Port Management company in the Philippines has expressed an interest in investing in Guyana.
Newly accredited Filipino Ambassador to Guyana, Marichu Mauro told President David Granger as she presented her Letters of Credence on Wednesday, that the International Container Terminal Services, Inc. –one of the world’s leading port and terminal operator – wants to invest here.
“This Philippine company has expressed interest in investing in Guyana, and we hope it would be successful in establishing another connection between our two countries,” she stated in her address to the President along with Minister of Foreign Affairs Dr. Karen Cummings and Director General of the Foreign Ministry Audrey Waddell at the Ministry of the Presidency.
The company already has investments in 18 countries including the United States, Brazil, Mexico, Colombia, China, Australia, Croatia and Iraq.
According to its website, the company was established in December 1987 in the Philippines and has become a leading operator, innovator and pioneer in its field. It creates high-performing container terminals at the crucial cargo transition point for both import and export.
Guyana’s main seaport is the Georgetown port accessed via the Demerara River.
The Shipping Association of Guyana on its website states that the port sees 466 containers per year, 265 tankers, 112 break bulk and 3 cruise ships. It is not clear when this information was last updated but these numbers are expected to significantly increase in the coming years as the country becomes an oil producing nation.
Guyana and the Philippines established diplomatic relations in September 2008, however, trade between the two countries has been minimal.
The Filipino Ambassador hopes to change this during her tenure.
She suggested that the Philippine sugar producers can look into possible investments in the Skeldon sugar Estate. “This is something we can further explore,” she noted.
The estate is currently closed and efforts are being made to solicit buyers.
“We are very interested in pursuing a cooperation project on Hydroelectric and Hydropower technology with Guyana” she added.
According to the Ambassador, there are already over 100 Filipinos working in Guyana as doctors, nurses, professors and engineers.
In his address, President Granger noted Guyana is grateful for the expertise and service of Filipino professionals who work here.
“Guyana has benefitted from the services of professionals from the Philippines who have come here to work in a wide range of fields including education, forestry and health.”
The Head of State did not divert from his prepared speech to respond to specific collaborations mentioned but assured that Guyana looks forward to improving cooperation with the Philippines, particularly in the fields of agriculture, commerce, environment, fisheries and marine development.