Guyana/ EU trade skyrockets but gov’t wants more investments here

President Dr. Irfaan Ali, EU Ambassador to Guyana René Van Nes, government officials and representatives of the visiting companies (Photo: News Room/ November 20, 2023)

Even as trade between Guyana and the EU is already increasing substantially, the Guyanese Head of State said there is room for many investments here.

Dr. Ali addressed the visiting delegation and other stakeholders on Monday at their first formal engagement held at the Marriott Hotel in Kingston, Georgetown. He told them that there are substantial investment opportunities here, particularly in healthcare, agriculture, tourism and new technologies.

Trade could increase even more with these EU companies figuring out what prospects exist here. And as he has done with other visiting delegations, President Ali made it clear that Guyana is open for business.

Evidencing this, he said, is the menu of incentives rolled out by the government. These include tax relief meant to encourage investments here.

“What we’re seeking to do is create competitive advantages to Guyana so that you can relocate your services here or expand your services here to get better access to the markets,” Dr. Ali said.

He added:“Policy framework must allow those companies to get the best possible competitive advantage.”

European Union (EU) Ambassador René van Nes, in brief remarks, said the companies represented in this first trade mission are quite diverse and eager to capitalise on the opportunities here.

Collectively, he noted that those 23 companies raked in about 400 billion Euros last year and employ about 500,000 people.