Guyana: President Ali Advocates for Manufacturing Growth in Guyana

President Dr. Irfaan Ali has called on the private sector in Guyana to evolve from merely importing commercial commodities to establishing full-scale manufacturing hubs and assembly lines. This directive was issued during the opening ceremony of CAM Motors and the launch of the Foton and Jetour vehicle lines in Georgetown.

The automotive venture is a collaboration between Jamaica-based ATL Automotive, the Caribbean’s largest automotive dealer group, and the local Continental Group of Companies along with tech-provider MMKJ Inc. President Ali acknowledged the increase in domestic consumer purchasing power due to the introduction of international brands but emphasized that this should not be the endpoint for the economy.

He specifically addressed Vishok Persaud, the Director of the new venture, urging him and his management team to explore the possibility of establishing Guyana’s first localized automotive assembly center. “We want to be a destination that has the creativity and innovative capacity, so that we can be much more than a warehouse or a showroom,” President Ali stated.

To support this industrialization effort, the President challenged local business leaders to pool an initial investment of US$15 million to create an automotive plant. He promised that his administration would provide aggressive tax incentives and support if they met this goal.

President Ali highlighted the strategic position of Guyana in the region, noting the potential for manufacturing to serve not only local needs but also export markets, particularly with economic reforms in Cuba and developments in northern Brazil. The government aims to transition from a consumption-based economy to a manufacturing-driven one, ensuring that Guyana can produce world-class products and build a skilled workforce for the future.

Source: hgptv.com