Having recently met representatives of the local private sector and policy makers here, Jamaican economist Dr Christopher Tufton says he is mulling proposals for foreign investors in sugar, rice and finance among other areas.
Tufton, a former Minister of Agriculture in Jamaica, led a delegation here in January, which included a representative of the Sugar Company of Jamaica Limited. The Sugar Company of Jamaica Limited is a subsidiary of the China-owned Complant International Sugar Industry Co Ltd. The delegation met members of government and the Private Sector Commission.
“Specific areas of interests include agriculture; rice and sugar etcetera mining, infrastructure, and finance,” Tufton told Stabroek News.
While he would not say which investor he is representing, Tufton said the investor was examining joint ventures or sole investment. The former Jamaican government minister said the group’s interest included investment in the sugar industry, but it was told that the prospects of the Guyana Sugar Corporation (GuySuCo) being sold were slim despite its dismal fortunes.
A PSC member, who spoke on condition of anonymity, said that while the sugar industry was discussed, there were no talks on the local sugar corporation being sold as the private sector had no authority to speak for GuySuCo. “We did meet with Chris Tufton but that was to discuss investment options here… a representative of a Chinese-owned, Fortune 500 company was with him,” the member said.
The PSC member said it was explained to both Tufton and the Complant representative that the chances of GuySuCo being sold were slim to none although it was a failing industry, given its historical political linkages in Guyana. “We… had to explain the genesis of the link with the ruling party and let them know that no one should hold their breath on hearing of a sale anytime soon,” the PSC member said.
