Brazilians interested in investing in Guyana

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– large team meets GO-INVEST Head

Investors from Brazil have engaged Chief Executive Officer of the Guyana Office for Investment (GO-INVEST), Owen Verwey, to explore the options of having greater investment opportunities into Guyana’s economy.

Yesterday, at the Brazilian Cultural Centre on Church Street in Georgetown, investors and other officials of the neighbouring country gathered to have their questions answered, and to learn more of the local investment climate.

Chief Executive Officer of the Guyana Office for Investment (at podium), Owen Verwey, explains to potential investors the investment opportunities available in Guyana
Chief Executive Officer of the Guyana Office for Investment (at podium), Owen Verwey, explains to potential investors the investment opportunities available in Guyana

According to a GINA report, Verwey said at the end of the meeting with the potential investors that the main concern for the Brazilians is acquiring land to start businesses, specifically in the manufacturing sector. Verwey said lands acquired will not be transported, but instead leased.

“We’ve got a total of 45 visitors from Brazil, most of them are investors and potential investors looking for opportunities in Guyana. (They are) mainly government officials or politicians. The primary interest here is they are looking for lands, lands on a large scale for rice and for soya bean mainly because on scalability it has to be at that level for them to be efficient and for them to be able to compete on the world market,” the GO-INVEST official explained.

Verwey noted that the potential investors are interested in lands in specific areas; most likely those that may be available close to Brazil, and to partner with industries to have greater chances of competing in the local market.

The GO-INVEST, CEO added, “It does seem very likely that there will be more negotiations. This is just an advanced pre-feasibility mission. Looking at the opportunities here, they are looking to talk to existing players in the agricultural industry for partnership opportunities available, but it looks as though they are looking for lands that means, for the Government of Guyana, opening up of new lands in the various locations.”

During the intense discussions, “most of the questions were about how to acquire lands, the amount of lands that are available, the types of land and the suitability of land, the process to establish a business in Guyana, the process by which lands can be repossessed or the security of lands for investors in Guyana,” Verwey  further explained.

Based on feedback received from yesterday’s meeting, Verwey said that investments can be expected from Brazil in suggested areas, as well other proposed areas such as oil and gas, tourism, mining, agro-processing and forestry.

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