JAN-13-2013: GUYANA PRESIDENT SPEAKS ON ECONOMY Pretty interesting comments from the President of Guyana (Ramotar). Note the last paragraph, which states: the President also mentioned that the fortunes of oil remain very optimistic, and that some interested companies are getting ready to restart drilling offshore.
_____
https://www.guyanachronicleonline.com/site/index.php?option=com_content&view=article&id=54165:president-tells-press-conference-guyanas-resilient-economy-sprouting-new-areas-of-economic-growth&catid=4:top-story&Itemid=8
PRESIDENT Donald Ramotar has indicated that the government is studying some interests and proposals relative to developing new crops and bigger farms in an effort to further diversify the agriculture sector.
He made this statement during a press conference held on Friday, January 11, at the Office of the President (OP) on Shiv Chanderpaul Drive in Georgetown, where he noted that, in the last year, the agriculture sector has done well in some areas, notably in rice production, which saw the largest crop ever being produced in Guyana’s history.
He, however, pointed to some disappointments with the sugar industry, which was not able to meet its annual production target. “Had sugar reached all its targets, our growth rate would have been higher; because you know sugar has a very big weight in our economy. So, hopefully, we would get that fixed in the near future,” he stated.
The President nevertheless highlighted the development of new areas of economic growth, noting that the economy was previously dependent only on sugar, rice and bauxite, but that while those areas are still making major contributions to the development of the economy, other areas, such as mining and tourism, have made very important impacts.
He said this shows that the base of Guyana’s economy has been broadened, and that the economy is continually diversifying, which will serve to make it more immune from external shocks. He said the mining sector itself is becoming diversified, in that not only bauxite, but gold has also become important; and that manganese operation would be commercialised by the end of this year or early next year.
He disclosed that interest in a new bauxite mine is also quite possible in the near future. President Ramotar said that wood processing is an important industry in the country. He pointed out that, presently, the Chinese company Bai Shan Lin International Forest Development Incorporated has an advertisement running in the newspapers offering approximately 700 jobs, approximately 260 of which are for construction of a new wood processing plant in Region Ten (Upper Demerara/ Upper Berbice).
The President also mentioned that the fortunes of oil remain very optimistic, and that some interested companies are getting ready to restart drilling offshore.