Business

The new Guyana Marketing Corporation has agreed to provide us with the above information which we will publish on a weekly basis subject to receipt.

This week’s disclosure that a delegation comprising representatives of sixteen Jamaican companies will be visiting Guyana later this month to pursue what has been described as “mutually beneficial business opportunities,” is a development of note that ought not to be allowed to pass without public comment.

Even as he hailed last year’s near record-breaking performance of the rice industry including the stellar sectorial performance of Region Six in 2019, the Chairman of the largest rice-milling operation in Guyana has told the Stabroek Business that he believes that performance of the sector can significantly exceed that of last year if what he described as “politics” were kept out of the sector.

The APNU+AFC coalition administration’s strategy for the rolling out of a Decade of Development, beginning this year, envisages significant inputs from the private sector, not least the manufacturing, ICT and telecommunications sectors, President David Granger says.

With public expectations now firmly fixed on oil and gas to rescue the Guyana economy from its protracted condition of poverty and underdevelopment, President David Granger cautioned attendees at the country’s First Youth Empowerment Summit recently  to equip themselves with the skills and knowledge to help advance Guyana’s development beyond the lifespan of the country’s petroleum sector.

With an eye, she says, to the opportunities that are beginning to open up in Guyana, Rosalyn Neblett has established Clean 4 You, advertised on her calling card as a Professional Cleaning Service and says that she is prepared to work her hardest to put her days as an employee behind her.

By Brooke Glasford According to the Oxford dictionary the phrase avant garde refers to new and experimental ideas and methods in art, music, or literature.

Guyana’s annual gold production could “far more than double” if some of the burning issues relating to the efficient management of the sector can be tackled and corrected, a well-placed source in the sector has told the Stabroek Business.

Examining some of the growing pains of the small business sector the past decade or so has witnessed the impressive growth of the small business sector, particularly in the context of its role as a provider of both substantive employment and as an income supplement for individuals and families already formally employed but in need of alternative additional money-earning options to subsidise existing incomes.

With the latest oil find by the United Kingdom-based Tullow Oil having reportedly fallen significantly below the company’s pre-drill expectations, expert assessment of its immediate-term prospects is unlikely to bring smiles to the faces of the company’s Board of Directors.

                                              Kitco Market Data Gold Prices for the three day period ending Thursday Januuary 9, 2020

*Prices only represent the average Wholesale Farmgate and Retail Prices at the above mentioned markets and are NOT prices set by the Guyana MArketing Corporation or Ministry of Agriculture.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 859’s trading results showed consideration of $79,199,340 from 886,256 shares traded in 36 transactions as compared to session 858’s trading results which showed consideration of $50,020,929 from 249,961 shares traded in 17 transactions.

It is now just over a year since the Small Business Procurement Programme, provided for under Section 11:1 of the Small Business Act of 2004 was scheduled to come into effect.

In a year when the growth of the small business sector was inhibited by several constraints, not least the scarcity of material resources for the growth of emerging enterprises, limited access to technology and training necessary for the qualitative enhancement of the manufacturing sector, limited access to opportunities to expose products to overseas markets and limitations associated with the ability of some businesses to produce the volumes necessary to generate meaningful returns, the Stabroek Business wishes to pay tribute to those state-run and private sector entities which, in its opinion demonstrated genuine and sustained interest on the small business sector.

While there is little doubt there are now clear signs of an emerging potentially lucrative oil and gas industry in Guyana, there exists, equally, a clear danger that the sector could pose what might well be the stiffest challenge yet to workers’ rights at a time when the focus among those entities, both local and foreign, involved in the sector will be maximizing their returns from the industry.

Even as Guyana readies itself to make the requisite adjustments to its economy to better streamline its engagements with investment-keen external businesses, the country still ranks a disappointing 134th out of 190 surveyed in terms of ease of doing business, the World Bank’s Doing Business 2020 says.

The commencement by ExxonMobil less than a fortnight ago of oil recovery from what is now firmly categorized as a “world class” oil find inside its Stabroek Block, while promising to yield lucrative medium to long term returns, it set to bring even quicker returns to the global standing of the company as a world super major.