Barama Company Limited (BCL) commissioned a veneer plant and craft centre at its Buck Hall, Region Two location at a ceremony it held to mark 20 years of operations in Guyana.
Minister of Agriculture Robert Persaud, who also holds responsibility for the forestry sector, on Thursday extended congratulations to Barama for its “prudent management” recalling that when the current government took office in 1992, it had a number of reservations about the investment. According to a Government Information Agency (GINA) Persaud told the gathering of Barama staff and other invitees that, “We got over that reservation by ensuring that the necessary safeguard polices were put in place to ensure that workers and, the people of Guyana got a fair deal.”
Today, he said, Barama’s success is proof of government’s sensible and responsible foreign investment policies. Persaud said over the years government has created the necessary climate to attract multi-billion-dollar foreign investment and “promises to continue so that the people of Guyana can have jobs and opportunities for a brighter and prosperous future.” He expounded the Barama has brought about much transformation within the forestry sector, particularly with the introduction of new and modern technologies.
“We are also happy to see over the years the willingness of the company to invest in terms of re-tooling and expanding its operation, particularly looking at other value added activities….while the company has not yet achieved all its objectives and goals we are satisfied with their serious efforts in pioneering value added products,” he said. Persaud also informed the meeting that government is committed to working with stakeholders to increase growth and he spoke of the new monitoring technologies used by the Guyana Forestry Commission to ensure greater compliance within the sector.
In his address, Barama CEO Clement Ooi said that over the past 20 years, the plywood company has invested more than $25 billion in Guyana. He said Barama is proud to be a key player in bringing international recognition to the country as one that employs good sustainable forest management practices.
