Dear Editor,
I was very privileged to have had the opportunity to attend the launching of the Guyana government’s Guyana Diaspora Project at the Marriot in Manhattan, New York. The Minister of Foreign Affairs, the Director General of the International Organization for Migration, and the President all gave excellent presentations. I want to commend the President for taking this excellent initiative.
I am disappointed, however, that the chair of the proceedings, Ambassador Bayney Karran, did not give the large audience the opportunity to ask questions. I presume that the Ambassador had to forego this part of the programme due to time constraints. If that was the case, he should have at least mentioned this fact to the gathering.
The President in his remarks acknowledged that we do not have the human capital in Guyana to complete all the projects that the government has undertaken. It was because of the shortage of skilled labour, I presume, that the Guyana Diaspora Project initiative was born. I would like to suggest to the President that this initiative, despite its loftiness, will not be sufficient to make it a grand success. Will the masses of Guyanese in the diaspora want to give up their successful living here and return to their homeland with the promise of a better future? If we are looking for the retirees to come home, then I would say that the objectives may be met. However, if we are looking to attract the ‘working’ class, the strategy would have to be different.
Guyana needs an inflow of capital of between US$3-5 billion annually over the next five years. If the Lands and Survey Commission in collaboration with the Ministry of Agriculture could come up with lands suitable for agriculture and other investments, and the Ministry of Finance could prepare professional project proposals, the President could then gather a presidential team of honest and successful Guyanese at home and abroad to engage the Guyana diaspora to invest in their country. This investment should be restricted to fund-based projects only, and would not be used by the government for any other purpose. The funds generated from the diaspora could be in the form of equity, long-term bonds, grants, or any other combination of financial instruments. With a potential diaspora contribution of US$500 annually from each of an estimated 500,000 contributors (Guyanese and non-Guyanese), it is likely to generate US$2.5 billion annually.
If the contributors are confident about the plans of the government and the presidential team, the above sum is doable. The funds generated will be used for very diverse projects, hence the exposure of the contributors will be minimized. As these funds are being generated and projects identified, those skills that will be needed for this great take-off will be secured from the Guyana Diaspora Project. Now we will have an influx of professional Guyanese who can earn a relatively decent salary in their home country.
I believe that there are many great suggestions that reach the President’s desk daily. However, I urge him to consider this proposal as well. I am of the view that Guyana can really be transformed into a developing nation within the next five years if the Guyana Diaspora Project and the above proposal are connected.
Yours faithfully,
Charles Sugrim
