Over the last 11 years, bilateral trade between Guyana and China has zoomed from US$180m to US$1.23b and Chinese enterprises here employ about 2,000 Guyanese, Beijing’s top diplomat here said.
Speaking on Saturday, at the Chinese Lunar New Year Reception of the Association of Chinese Enterprises in Guyana (ACEG), Ambassador Guo Haiyan lauded the role it has played in co-operation between the two countries.
Founded in 2013 she said that ACEG was one of the earliest foreign chambers of commerce here and now has 21 members some of which are state-owned and listed in the Fortune Global 500.
Held at the New Thriving Restaurant at Providence, the Ambassador told the gathering that the members of ACEG are engaged in energy, infrastructure, mining, agriculture, forestry, trade, information technology among other areas.
Citing key projects that Chinese firms are engaged in such as the new bridge over the Demerara River, Haiyan said that the investment of these companies has jumped from hundreds of millions of US$ to more than US$8b.
She asserted that member companies comply with and “actively respond to” the local content law and currently employ 2000 workers. The companies also nurtures local talent through staff training, internships and scholarships for study in China.
“From my two years of working experiences in Guyana, I have the deep feeling that Guyana is an open, inclusive, friendly, vibrant and dynamic country. With the development of (the) oil and gas industry, Guyana has become the fastest growing economy in the world, the Guyanese Government is formulating a modernization blueprint focusing on the main themes of energy, food, and climate security, and committed to create a fair, open, and inclusive business environment, which has attracted people from various countries, including China, to look for business opportunities. All efforts will help transform Guyana into a prosperous and diverse modern country”, she said.
She added that China has always been optimistic about Guyana’s development and bright future.
“With the rapid recovery of the Chinese economy, I hope the Guyanese Government and all sectors of the society could enhance confidence in and pay more attention to Chinese companies and our bilateral cooperation, she stated.
In his remarks, Prime Minister, Mark Phillips emphasised the significance of economic and trade relations and the role of the China-Guyana Investment and Economic Cooperation Working Group.
“An Investment and Economic Cooperation Working Group serves as a platform for the countries to discuss and collaborate on the various aspects of economic and investment cooperation. The primary purpose of such a working group is to facilitate dialogue and cooperation between the participating countries to promote and enhance economic ties, trade relations, and investment opportunities”, he said, according to a release from the Office of the Prime Minister.
