Beyond existing challenges, manufacturing sector set for major take-off 

For years, Guyana’s manufacturing sector has largely been beset by key challenges such as the high cost of energy.

The forthcoming Wales Gas-to-Energy project, which will harness natural gas produced offshore, promises to slash the cost of energy, thereby supporting the growth of the manufacturing sector.

President of the Guyana Manufacturing and Services Association (GMSA), Ramsay Ali believes this project will help the manufacturing sector benefit from a major take-off.

Population growth, resulting in increased consumption, and the infusion of more technology in productive sectors are other factors Ramsay believes contribute to the

“World-class products already being produced (here)… once we can get our cost of production down, we will be more competitive,” Ali said.

And for him, local and foreign businesses should seriously consider working together to capitalise on the opportunities that are becoming increasingly available.

In an interview with the News Room this week, Ali also backed the upcoming International Business Conference (IBC) as a space to help locals and foreigners figure out how best they can work together.

“… when I looked at the IBC, in terms of the people coming here, I believe it is really important for all local manufacturing companies to be part of the IBC,” the GMSA Head said.

He expects foreign companies to come to Guyana with experience, capital, and an interest in partnering with locals. Together, Ali said, foreign and local business players can capitalise on the opportunities in Guyana.