In an investment pitch to its Trinidad and Tobago counterpart, the Guyana Manufac-turing and Services Association (GMSA) hopes that glass production here could be to the benefit of both sides.
Speaking to a Trade Mission comprising representatives from 23 Trinidad and Tobago companies that visited Guyana last week, GMSA President Rafeek Khan says that he pushed skills-sharing through investments as he laid a case for transfer of knowledge from a country whose manufacturing sector utilizes high-end technology and possesses a wealth of experience. “Everyone is looking at low hanging fruits in terms of investment; the hotel and service industry and things like that. They are looking at direct returns from services in oil and gas, but I asked them to explore something non-oil that is sustainable with guaranteed profits over a long term,” he told Stabroek News on Sunday.
With this country’s silica being of high quality, Khan says that it would be more profitable to the region if glass products were made in Guyana with investments from companies in the CARICOM region. “Guyana is open for investment and I asked them to bring technological ideas and capital to industries, such as manufacturing of glass. We want to get that off the ground where there is the utilization of our high silica sand and convert that into finished glass; there is the manufacturing of bottles and other glass products that can be done right here,” he said.
He pointed out that this country had tried with glass manufacturing with the establishment of a factory, on the Linden-Soesdyke Highway in the 1980s but noted that it had to be shut down for a number of reasons. Khan believes that with proper planning, glass manufacturing [here] can take off but these are areas that investors in the region do not know exist. “A lot of people don’t know of this. We have been exporting some of the highest grade silica sand in the world. Why not look at the industry for glass right here,” he said.
When he zoomed in on investments, not tied directly the oil and gas sector, Khan said that in addition to glass manufacturing, he also shared that the canned-product market was one with huge potential as this country has a variety of produce to choose from for preservation. Another pitch was the manufacturing of high end furniture, a venture that already exists in the twin island republic, and whose clients include many of the countries in the region, including Guyana, where some of the furniture makes its way back here. “High end furniture is another investment. These are industries that have been talked about for years that have great potential but have just been left languishing. I am encouraging businesses to come to Guyana and start considering,” he said.
“The low hanging fruit you can realize profits, but why not invest in sectors that have long been talked about but not developed and could earn you more in the long term? We have identified natural resources that need to be converted into value added for greater return,” he added. Khan said that he has had interest from a T&T apparel company seeking a partner here.
“Trinidad has been long known for its garment industry. They have been well known also for exporting carnival attire…our garment industry in Guyana has shrunk in the last two decades. I know one company, Denmor, went from in excess of 1000 employees to just a few dozen. So I have encouraged the apparel manufacturer to meet with our businesses and look at their capacity to help. Perhaps they can consider linkages and joint ventures. They can bring their strengths and we have skills and infrastructure,” he said.
In Guyana, the GMSA will also be seeking to persuade more locals to enter into joint ventures. “Local businesses are generally reluctant to partnering. They are reluctant also to borrowing. So I have asked TTMA (Trinidad and Tobago Manufacturers Association) to help locals understand how the negotiation could be equitable, and mutually beneficial, for both partners for success and development. So let us work together so that we can bridge the gap and identify businesses to businesses to make it work,” he posited. The GMSA President said that he told the 23 company representatives this much and asked that they spread the word with their business friends and associates.
Underscoring that the GMSA has expressed its willingness to collaborate with the TTMA to explore investment opportunities that would be “mutually beneficial to its members”, Khan hopes that especially small and medium size businesses, both in Guyana and Trinidad and Tobago, take up the organization’s offer. However, he said that he cautioned that they shouldn’t have unmatched expectations to what this country wants, as those investments would not fare well. “They had asked that our small medium size businesses meet with their businesses to learn more about the opportunities of possible collaboration. They wanted to enter into a working relationship with our Association and we welcome that. The meeting was more focused about how they can gain business opportunities here. I encouraged them to not be afraid to invest but to ensure we don’t have unmatched expectations. Unmatched expectation can lead to disappointments,” he said.
“I shared that investing in Guyana holds many opportunities for the manufacturing sector, and listed a few examples that could easily be looked into. That is where tetra packaging, for example, could come in because they have the experience and we have the coconuts. Coconut water is a demand commodity and will always be because of its numerous health benefits. That business is profitable and sustainable because we have vast amounts of coconuts. But like coconuts, Guyana has a number of fruits…,” he added. Tetra pack is the most common name for aseptic cartons used for liquid food items which have to be stored for up to one year without refrigeration. Khan emphasized that “The GMSA stands ready to collaborate and to work closely with TTMA in identifying areas that have long been a hindrance to equitable trade.”
