President Bharrat Jagdeo told an Agri-Business Investment Seminar on Sunday last that investing in the agriculture sector particularly in aquaculture will net high returns.
According to a Government Information Agency (GINA) press release Jagdeo told the meeting that agriculture is vitally important to Guyana’s economy and several opportunities exist in the sector. He told businesspersons assembled at the Seminar and Mini Exhibition held at Naresa’s Palace in South Ozone Park that based on research done by international consultancy firm Mc Kinsey, aquaculture will net the highest returns as cultivating “one hectare of land is twice that of doing rice on the same acre of land.”
Jagdeo who is lead head for agriculture in Caricom said the challenges encountered this year when food prices spiralled engendered a “renewed focus on agriculture.” He said the ministry is incorporating “a plantation type of agriculture” side by side with small-scale agriculture and plans are in train to cultivate soya bean in the intermediate savannahs. “The Brazilians are doing this on the other side of the river. You have large ventures; the smaller ones you can piggyback on them for research and marketing support,” the President said. He also told the meeting that Guyana is unique because in the near future it will be able to produce even more food.
‘Generation Reforms’
Jagdeo said too his government has been engaged for some time on ‘generation reforms’ where “from an unstable macroeconomic situation, triple digit inflation, huge fiscal deficit, huge debt, among others, he explained that Guyana has managed to achieve stable macro economic fundamentals.” He said too reforms were also done in infrastructure though “we still have a long way to go, bridges etc. that will support … investment, education and health care and a number of other things.”
Guyana has reached a stage where it needs to move to a second generation level of reforms “that are more quality, reforms that are more direct,” Jagdeo said. “Many people talk about land availability and if you talk maybe 10 years ago, we didn’t have a clue opening some areas because for 30 years we have had land given out to people – some sold, some leased, some given out as leases without any record keeping,” the President added. He said too another number of reforms are needed; noting the closure of a bid for hydro power that is to supply the country with electricity. Also, several other developments such as the completion of the Berbice River Bridge, are expected to impact on agriculture.
Climate change
As regards climate change Jagdeo said deforestation contributes 20 per cent of green house gases and that it is critical for countries to cut their emission levels. According to Jagdeo in order to prevent catastrophic climate changes developed countries would have to agree to cut greenhouse gas emissions by 8% which would mean changing society itself he said, adding that it is estimated that the threshold is 2 tons of carbon by 2050. The president told the seminar that the issue remains at the forefront of plans for Guyana as it forms “part of our policy now as we move to low carbon economy.”
Macroeconomic climate
Alluding to the current financial crisis, Jagdeo said, “We in Guyana think we can ride it out. Our financial system is essentially sound, we had nine enterprises that were owned by the state in the financial sector, and all were privatized without costing the treasury a single cent.” He said too Guyana has some of the toughest laws, financial institutions act, and regulations because the government recognises that financial institutions can affect the real setting in a significant way. “If you ask me about the economy of the future, I would say that the traditional sectors would play a smaller role, sugar, rice, bauxite, and the forestry and fishing… some type of agriculture will grow like offshore fishing, maybe constant, but aquaculture will grow, tourism, and information technology.” He said too explorations for oil and gas are also ongoing.
Jagdeo also told potential investors that he has instructed that the Guyana Office for Investment (GO-Invest) to speed up the processing of investment applications to one week. To facilitate this he said he has instructed that a dedicated desk be set up to assist investors by ensuring that they have access to all the necessary information.
According to GINA, US Ambassador to Guyana John Jones and Agriculture Minister Robert Persaud also made presentations at the seminar.
Vat is waiting to grab every cent you invest the end results is you end up with nothing to show ,like many who tried got lick up and came back camly to start all over again The robbery continues, Due to the finicial crisis that is taking place in the rest of the world the options for aid to Guyana which the president depends on is drying up ,now he decides to turn to the people to fill that void that is comming by offering with one hand and ready to choke you with the other .
Many of the concerns expressed are substantial and legitimate.
However, anyone visiting Guyana, cannot help but notice the significant change, private investments and entrepreneurisn have brought to the country. It is essentially, the driving force of economic and political change, despite, the propanganda of the administration to attribute this to itself.
Jagdeo’s administration is led by communist ideolouges, the hurdles encountered by businessmen in doing business in Guyana, is affected, by the banckrupt and myopic world view of Mr. Jagdeo’s political handlers.
There are tremoundous undercurrents released, by entrepreneurisn and the private sector in the country; and the communist elite and political administration, wether they like this or not, will have ‘ to swim or sink ‘ .
is this the same jagdeo that tell people invest and build hotels or bread and breakfast that saw virtually zero guests during the CWC07 or after?
This “Agri-Business Investment Seminar” appears to be a desperate attempt to woo investors from the American diaspora after the failure of the Guyana government to attract investors from Caribbean countries following an Food and Agricultural Seminar that was held in Guyana sometime during the past year or so!
We had enough of PPP, and PNC,
We had enough of those,
What we need is new Blood.
Then and only then will , will you get people with real money to invest in a country so loved.
Under the same Government, or PNC, it will always be the same,
The rich get richer and the poor gets poorer.
How can you help this country, when you give one Rich man 13000 acres of land
@ 5 cts per acre, per annum leased to him , and he does,nt even pay the rent.
What makes sence to me, is to give a poor man 5 acres to plant, and help to educate his children, by sending them to school, and feeding them. Simple
things like these need immediate attention.
Who cares about his 4000 head of cattle one man has on leased land at 5 cts. and dont even pay.???Give one poor man 2 milking cow and see how far it can go.It will take care of one hoousehold.
And this is only one case.There is many like this
This country needs new blood, someone who will think about poor people,
The rich will take care of themselves
People will come back with millions of US dollars to do business.
Enough with this Race —-,
It will take the 2 major races to run this country hand in hand.
We have to forget the past and think about 2011.
We have to bury the hatchet.
We have to move on for the future of the younger generation and stop being selfish, as our time is almost over.
Lets think about Guyana,
Lets think about a place where all religions used to enjoy each other’s,
All races used to live together.
Lets us all think about when we did’nt see color,(colour)
Lets see if we can go back living like we used to 50 years ago, but with
all the modern things, that are available today.
If we dont do something ,We’ll be the same 50 years from now.
Guyana is beautiful, I’v been here 40 years, attained quite a few millions (US), surely I’d like to go back to Guyana, There are many more of us that feels the same way,:I think about it every day,
but I know that I’ll die here because The Politicians made it so,
Right now Guyana is very unsafe, and dangerous,
Dont ask me why I blame the Politicians, It’s quite Obvious.
Guyana is Hell Right now.
Only a stupid man would leave the comforts of where he is and go live in HELL.
Could you believe that Jagdeo, asking people to come home and invest,
As a president he has a right to ASK,
So let me ask What have you to offer me and my family, mister President if I want to come home with the cash?????????????????????
Guyana is worst than when I left, 40 years ago.
Now notice I did’nt say that Odo did’nt have a hand in this,
you are there now for 16 years , can I return with my – - – million US dollars?
I guess I’ll die here.
My net worth increases about millions US per annum, in this crisis.
Guyana has lost one dam good Guyanese.
Is’nt that a shame.My heart and sole is buried in the mud of Guyana while I’m alive, I want to smell the cane factories as I pass on the road, I want to fish and hunt in our waters and jungle,I want to put my hands in the bandin and catch Hassa, and huri, I want to walk in the cake shop and drink mauby and eat bun.
and that is in Guyana.
Funny though , I still do the same things in America, you know why, NOTHING IS IMPOSSIBLE. I have my own Hassa, and tilapia, and all the fruits you want, but I dont have Guyana. Guyana is one of a kind, and cannot be replaced.
I have had it with people who were trained in countries like Russia or Cuba.
Guyana needs someone trained in the USA. or England
Guyana had enough with a president educated in economic Russia,
Down with the few politically connected persons, who receive all the contract,
Guyana must be for 6 (SIX) races,
We need a change in 2011 , I have in mind a good American trained man for the job,
Businesses will create jobs and wealth,
Guianese in the Diaspora will help the developement, to a fair and honest GOVERNMENT
BETTER DAYS ARE COMING FOR ALL GUYANESE AT HOME, AND ABROAD.
Big brother IS WATCHING.
My friend you sound like someone, who can help to bring the CHANGE. Guyana so desperately need. Please keep us informed.
Tonto ( Big Brother)
You are on target……You are on fire….” en fuego, si, si, senor.”
You write as a winner with US millions, now, and more yearly..
Guyana, with Vision Guyana 2011 will need you and your millions.
Guyana should be about jobs, jobs, and more jobs.
Successful businesspersons like yourself, knows how to create jobs and wealth.
In the current financial crisis ” cash is king”.
Those of us, with cash, are buying stocks, properties, and investments, cheaply, for the long term, and yes, will be richer. Whatever goes down must come up.
We, again, bought today, 50 Warren Buffet’s, Berkshire Hataway’s A Share, cheaply at $3,280: per share, with an annual return of 26 % over the last 30 years. On December 10, 2007 each BRK, A stock was $5,059: . We meet Warren Buffet and Bill Gates the first Saturday in each May, at BH Annual Shareholders’ Meeting. Next meeting will be May 2, 2009 in Omaha, Nebraska.
Does President Jagdeo, really, think last week in NY, the large attendees will give up their jobs, security, and health coverages, to risk their lives in Guyana ? for what ?
NY Guyanese are smart, they move where there is safety for their hard earned monies.
How come you all are having all of that dough, knowing that Guyana has all of that underdeveloped land mass and cannot have people like yourselves touching down at the spanking new L. F. S. Burnham International Airport aboard the “Concorde” or the “Airbus 380″. I cannot wait until some oil-rich “Arab Dudes” beat you all to the punch. Are ya all going to take all those multi-million/billion dollars with ya all to the other side when ya all would have passed on? How about providing our favorite online newspaper “Stabroek News (SN)” with some advertising dollars! :-$ ;-)
Hello President Jadeo. Hope you are reading these blogs. Take special note of the last few blogs to get an idea of the financial potential of foreign Guyanese. Hope you come to realise where your government continue to get it wrong and hastily do what is needed to get it right.
Another thing President Jadeo. You cannot talk about possible investment opportunities in agri and aquaculture without in very bold print advertise what these opportunities are, what deals the govt is willing to give in terms of land ownership, etc., so that all can see. We want these deals to be across the board and above board. No one wants to meet under cover with GOINVEST or any entity or person with every person getting different deals.
The fact that there were no literature at your New York forum seem to indicate a continued path on being clandestine. You must spell out, for all to see, your investments deals. Then and only then you will inspire confidence.
To those potential investors sitting in the US, who are scared of the crime situation in GT I have to say this to you. You just finished celebrating Thanks giving. If the pilgrims and those who came after were thinking like you folks there would be no US. For me, if Presi Jadeo and his govt. can get it right, if he can clearly indicate what deals the Government will give to investors, and not have investors going blindly to special persons who shake you down to give you a deal, then investment will go ahead. Mass investment in Guyana will gradually eradicate high level crime.
Hi “Greg”! You have said inter alia; “[….Another thing President Jagdeo. You cannot talk about possible investment opportunities in agri and aquaculture without in very bold print advertise what these opportunities are, what deals the govt is willing to give in terms of land ownership, etc., so that all can see. We want these deals to be across the board and above board. No one wants to meet under cover with GOINVEST or any entity or person with every person getting different deals.
The fact that there were no literature at your New York forum seem to indicate a continued path on being clandestine. You must spell out, for all to see, your investments deals. Then and only then you will inspire confidence. One of the first things that the President Jagdeo Administration has to do for massive increase in foreign private investments into the agricultural and industrial sectors of Guyana is to re-establish the now defunct Guyana Agricultural and Industrial Development Bank (GAIBANK) which was closed by the Jagdeo Administration through senselessness. Picture the current case of an U. S. Football Championship winning athlete who is now out of millions of dollars and may be facing jail time for carrying an unlicensed firearm and accidentally shooting himself in the leg and this may be exactly what the President Jagdeo Administration may have done in the case of “GAIBANK”, shooting itself in one of the country’s most powerful “financial” legs. :-(
GAIBANK was a good idea that went bad. Take it from me. A lot of creditors took advantage of the bank. I believe that outside selling the bank to private investors the Govt had no other option. I don’t think the Govt. have the kind of money to pour into the bank.
Further, I don’t believe that Govt. should own more banks or any bank for that matter. All the Govt. need to do is make the environment possible for investment and that is not what the President is doing. Govt. is setting themselves up to be part owners of the business they are trying to attract. That will not work. Govt must lay the ground work for investment and concentrate on making their money from royalty and taxes.
Look at the alluminium deal. Govt gets 11%. Why share in the risk? Further there are Guyanese who can do this deal. Using Guyanese will mean that the bulk of the money stays in Guyana. With this deal the bulk of the money goes to China. The President should be taking note. The Chinese are buying up deals like this around the world to cement their development.
Hi Greg; Re: “GAIBANK was a good idea that went bad. Take it from me. A lot of creditors took advantage of the bank. I believe that outside selling the bank to private investors the Govt had no other option. I don’t think the Govt. have the kind of money to pour into the bank” GAIBANK, while not only being being a “superb idea” at its creation (re: piggy-backing on the Inter-American Development Bank (IDB http://www,iadb.org ) was one of the best things that could have happened to Guyana – especially when you consider the present world food and financial crisis situation. This is what you call forward thinking by the L. F. S. Burnham Administration. Besides, “IDEAS” do not go bad, it is the decision by people from time to time that results in disaster. So, why were the “borrowers” (if this is what you are talking about) not gone after if they did not keep their side of the agreements?
Were you by any chance associated with this institution (a reunion is being planned for 2009) as I was before its thoughtless closure by the current Guyana Government administration.