Tourism Authority Tour Guide training seeking to spark interest in neglected sector

Against the backdrop of what it says is its focus on meeting international tourism standards, the Guyana Tourism Authority (GTA) this week disclosed that it had executed a training exercise between August 13th and 17th, in the North Rupununi, designed to move the country’s tourism sector towards meeting the international Adventure Travel Guide Standard.  

Market prices

(Prepared by the Guyana Marketing Corporation and published by Stabroek Business as a public service)

Kitco Market Data

Kitco Market Data Gold Prices for the three day period ending Thursday August 23, 2018  

First regional medical cannabis brand spreading its wings

As medical marijuana becomes an increasing preoccupation in the drug-distribution industry, the region’s first medical cannabis brand is set to open its second medical ganja café, according to the weekend Gleaner.  

Guyanese company aiming to work with GRA on production of vehicle licence plates

With the Guyana Revenue Authority (GRA) moving to bring a greater measure of regulation to the issuance of motor vehicle licence plates, a small,  ‘tech savvy’ Guyanese company situated inconspicuously  in modest premises at the corners of D’Urban and Smyth streets is seeking to present itself as a partner in the initiative.

GTA Director sees oil and gas boost to tourism industry

Recently appointed Director of the Guyana Tourism Authority (GTA) Brian Mullis sees the development of linkages between the evolution of the country’s oil and gas sector and the strengthening of the value of its tourism product.

Local crime-fighting turning to geospatial technology for solutions

Geographic Information Systems (GIS) Specialist and Business Consultant Valrie Grant, who was recently awarded a crime-mapping contract under the Ministry of Public Security has told the Stabroek Business that the initiative by the Government now better positions it to have reliable digital information of “real world events in a computer environment. 

A Perspective on Local Content in the Oil and Gas Industry

Local Content has become very topical, particularly in poor countries where the discovery of rich deposits of natural resources and the inevitable association of First World entities with the exploitation of those resources gives rise to discourse regarding how smaller businesses and potential local investors in the resource-yielding countries can benefit, directly, through the provision of goods and services necessary for the effective execution of the recovery and exploitation processes.  

Crop simulation modelling augurs well for Caribbean agriculture

(Jamaica Gleaner) The climate-change threat to food security has left Jamaica and the Caribbean in search of an effective response to safeguard their ability to feed their people over the long term, and it appears they have found one.

Manufacturing sector needs Caribbean market for growth

(Trinidad Guardian) As T&T gears up for the Caricom Heads of Government meeting in Port-of-Spain this November, Prime Minister Dr Keith Rowley says the growth of the local manufacturing sector relies heavily on the success of the Caricom Single Market and Economy (CSME).

ANSA McAL earns TT$454m second quarter profit

(Trinidad Guardian) Noting the recent improvement in the T&T economy, ANSA McAL Group Chairman Norman Sabga said this has bolstered the conglomerate’s strategy of innovation with its new products.

Venezuela stands to lose US-based oil refineries

…following court decision in favour of Canadian mining company

There appears to be no end in sight to the political and economic woes of the government of Venezuela’s President Nicholas Maduro.

Market Prices

(Prepared by the Guyana Marketing Corporation andpublished by Stabroek Business as a public service)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.

Stock market updates

GASCI ( Nº 223-6175/6) reports that session 786’s trading results showed consideration of $1,325,725 from 8,455 shares traded in 3 transactions as compared to session 785’s trading results which showed consideration of $3,205,580 from 32,255 shares traded in 8 transactions.

Kitco Market Data

Gold Prices for three day period Thursday August 16, 2018Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Manufacturers body upbeat about round table on agro processing

-fourteen issues including technology, power and taxation on the table

What has now metamorphosed into a protracted public/private engagement involving key government ministers and senior officials of the Guyana Manufacturing & Services Association (GMSA) may be moving at a leisurely pace but the private sector officials facing key government officials across the table say that the importance of keeping doors open to ensuring the growth of the manufacturing sector dictates that the two sides remain engaged.

GUYTIE aiming at multi-faceted connections with local, foreign companies

-how many businesses will show up to sell goods?

With just over a month left before the inaugural Guyana Trade and Investment Exhibition (GUYTIE) is launched at the Guyana Marriott Hotel, the organizers have told the Stabroek Business that they are accelerating its marketing initiative to ensure that it secures optimum participation from both the local manufacturing sector as well as overseas buyers.

Guyana and the cooperative movement

A cursory examination of global statistics pertaining to the international cooperative movement reveals an interesting picture regarding the popularity of cooperatives, the involvement of people therein and the impact of cooperatives on the global economy.

Market prices

(Prepared by the Guyana Marketing Corporation and published by Stabroek Business as a public service)

Medical, recreational marijuana creating a multi-billion-dollar industry

There was a time, particularly in the decade of the 1970 when the popularization of marijuana was driven largely by the lyrics of the Jamaican musical icon Bob Marley, particularly in his refrain to the conservative political administrations to ‘legalize it.’ In those days, if you were in Guyana, for example, you could indulge the habit only through resort to the most clandestine of arrangements.

Talk shops

In the Friday July 20th issue of the Stabroek Business our lead story was based primarily on a brief telephone interview with the President of the Georgetown Chamber of Commerce and Industry (GCCI) during which he told us that  a July 20-21 private sector forum at the Pegasus Hotel would have been seeking to move in a positive direction as far as the growth of the businesses participating in the forum were concerned.

Gold prices

Kitco Market Data Gold Prices for the three day period ending Thursday August 9, 2018

Global tropical fruit market a compelling reason to keep faith with agriculture

As Guyana contemplates the broader developmental gains to be derived from the country’s anticipated significant returns from its emerging oil and gas sector, how much sense does it make to heed the warning that an anticipated fossil fuel bonanza should not tempt us to turn our backs on an agricultural sector that has helped to sustain the country’s economy over many decades.  

Guyana needs geospatial technology to evaluate hidden natural wealth

With external investor interest poised to intensify as the country moves inexorably closer to the exploitation of its now confirmed significant oil resources, Guyana can much better position itself to engage potential investors from a position of strength if it moves in a timely manner to apply geospatial technology to the creation of a reliable audit of its natural resources.

Small businesses seeking positive outcomes from GUYTIE

-wary of being shut out

Whether or not the September 19-22 Guyana Trade and Investment Exhibition (GUYTIE) will be responsive to the particular needs of local Small and Medium Enterprises (SMEs) depends on whether the event is structured in a manner that is responsive to the concerns of the smaller operations in the manufacturing sector, according to a group of eight owners of small business owners with whom the Stabroek Business has spoken over the past two weeks.

Michael Nunes wants gov’t to ‘step up’ for small agro processors

-says meaningful investment can bring many more job opportunities

When you tell Michael Nunes that agro processing has become one of the fastest growing sub-sectors in Guyana’s agricultural sector and that modest quantities of locally manufactured products are beginning to find their way onto external markets, the nonplussed expression on his small, chiseled face does not change one iota.

Local Content in Oil, Gas, and Mining

A World Bank View

Considerations of space have necessitated the editing of this paper. Care has been taken to retain all of the elements believed to be relevant to reader interest.  

Small enterprises could profit from new CDB pact

We are yet to know how last week’s partnership agreement signed between the Caribbean Development Bank (CDB) and the Geneva-based International Trade Centre (ITC) will affect the business community in the Caribbean and whether, specifically, there is room in the arrangement for boosting the growth of the emerging but patently needy small business sector in Guyana.  

Market Prices

(Prepared by the Guyana Marketing Corporation andpublished by Stabroek Business as a public service)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.

Stock market updates

GASCI ( Nº 223-6175/6) reports that session 784’s trading results showed consideration of $71,962,251 from 198,743 shares traded in 13 transactions as compared to session 783’s trading results which showed consideration of $30,770,258 from 193,629 shares traded in 10 transactions.

Use them or lose them – former Republic Bank boss

Oil and gas local content openings:

With the country’s more than 100 years of experience in the oil and gas industry the prospects for Trinidad and Tobago making a meaningful contribution to the building of a strong oil and gas base in Guyana are “considerable,” according to retired Chairman of the Republic Bank group David Dulal-Whiteway.  

Small businesses will access 20% share of gov’t contracts from 2019

-solutions still being sought to implementation challenges

Local small businesses and business aspirants eagerly awaiting opportunities to secure more generous shares of government contracts to provide goods and services across the sectors will likely not be able to do so for at least some months yet, according to the Ministry of Business.

The women of WADN

While many men would probably be loathe to admit it, the available evidence points to the fact that women have long been at the forefront of the growth and development of the manufacturing sector in Guyana.

Commercial banks not averse to small business lending –former Republic Bank Chairman

-risk-mitigation a key factor

Against the backdrop of frequent expressions of frustration by local small business owners and entrepreneurial aspirants regarding what they say is a less than welcoming posture by commercial banks towards making borrowing available for the creation of new enterprises and the consolidation of emerging and frequently struggling ones, a leading regional banking figure has told the Stabroek Business that relationships between commercial banks and their borrowers cannot be separated from the compulsory requirement of borrowers to meet the critical conditions that are vital to the protection of the interests of the banks’ depositors.

Market prices

(Prepared by the Guyana Marketing Corporation and published by Stabroek Business as a public service)*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.

An ‘oil economy’ and a strategic plan for agriculture

One good sign in the ongoing discourse on the commencement of oil exploitation in 2020 and the implications of the returns from it for the country’s future and direction of the economy is that it is not being allowed to entirely drown out the urging that other vital sectors not be ignored.

Illegal gold mining in hemisphere more profitable than drugs – report

-Guyana’s smuggling problems could be linked to broader criminal ties

Guyana is one of a number of countries in the hemisphere that continue to be affected by illegal gold mining and the unregulated movement of gold out of the country which, in the instances of some of the affected countries, are linked to organized crime the returns from which could  exceed even those extracted from the cocaine trade.