GUYEXPO 2016 launched…Event must focus on local manufacturing, value added – President

Mar 06, 2016 News

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President David Granger says that it is vital that the Guyana Trade Fair and Exposition

(GUYEXPO) place more emphasis on the local manufacturing sector to help revitalise the economy, which has too long now, been dependent on the exportation of raw material.
The Head of State made these remarks at the launching of GUYEXPO 2016 at the Sophia Exhibition Centre on Friday last.
This year’s event will be held from May 12 to May 15, under the theme “50 Years: Guyana means Business – Promoting Enterprise, Driving Productivity.”
In his address to a packed auditorium, which included First Lady, Mrs. Sandra Granger, members of the diplomatic corps and representatives of the private sector, the President noted that GUYEXPO must showcase Guyanese businesses and provide the environment for networking that will lead to expansions and the further investments needed to rev up the economy.
As he stood at the podium, he spoke of an occasion on the campaign trail when he sat on the bank of the Berbice River and saw barges upon barges of raw lumber traversing the waterways, which filled him with “great trepidation”.
He went on to say that for too long now, Guyana has been dependent on the “six raw sisters” – raw sugar, raw rice, raw bauxite, raw gold and diamonds, raw timber and raw fish – and unless this changes, the economy will not grow or expand.
“We are still a raw economy and we have not really evolved from those six sisters. I do believe that GUYEXPO has to play a part in transforming and changing our economy”

He continued that the exhibition should be used as the forum for value added; “for moving raw logs to high quality furniture, for moving bauxite into alumina, for moving gold into jewellery and for moving fish into products that can be taken to the hinterland to feed children”.
He said the Private Sector, which sees itself as the engine of growth, must not only be committed to just buying and selling, but must also be committed to adding value to Guyanese products; to revitalising the Guyanese manufacturing sector.
For this to happen, he explained, Guyanese, especially producers, must come up with innovative ideas to diversify the economy.
“We have to become innovative. Our economy is essentially and fundamentally unchanged and over the last 100 years we have not created a new economy. We have independence and no new economy. Our economy is still based on the exportation of raw materials. We need to be innovative. We need to use our intelligence; we need to use science and technology to produce products, but products of high quality,”
The President also spoke of the importance of safety and security for citizens and investors.
“We need to assure investors that this country is safe. We need to give them the assurance that their investment will be protected by an efficient magistracy and judiciary. We need to assure them that there is a Police Force, a Defence Force, who will assure that their properties are not burnt; assure them that there is a National Assembly that will pass laws that will be enforced; that when bills are assented to, they are signed,” he said.
Minister of Business, Dominic Gaskin, during his address said that GUYEXPO 2016 is well aligned with the objectives of his Ministry, as well as the economic development priorities of the government, and is designed to nurture and promote business growth and development in Guyana.
“One of the areas of focus for the Ministry of Business is on the development of micro and small enterprises, this level of enterprise accounts for almost 30 percent of our country’s GDP and employs tens of thousands of people.”
The Minister said that many businesses have the capacity to develop beyond the small business level and GUYEXPO presents the opportunities for this kind of growth.

“Even for small businesses with lower growth potential, GUYEXPO provides opportunities for income generation due to the sheer volume of persons attending the event. This year, we look forward to a particularly large GUYEXPO.”
With a significant number of exhibitors expected from the micro and small business sectors, the minister assured that efforts will be made to encourage these entities to bring to the event, high standards of products and services.
“Speaking of standards, the Guyana National Bureau of Standards, which falls within the responsibility of the Ministry of Business, has a critical role to play, supporting businesses by developing appropriate standards and promoting the use of standards to help businesses achieve the requirements of the international market place.”
It was also revealed that the hosting of this year’s event during the month of May, instead of later in the year, is deliberate, as it is expected to give many local businesses of all categories, types and sizes and other foreign exhibitors, the opportunity to showcase the products and services they offer, not only to those who reside in Guyana, but also those living abroad who will be visiting at the time.
Hence, the opportunities for business linkages, sales and promotion are nothing but far-reaching, allowing businesses to tangibly benefit from the eagerly anticipated period, as Guyana celebrates 50 years of independence.
GUYEXPO began as an activity that attracted close to 200 exhibitors, many years ago, and is today Guyana’s biggest exposition with over 400 booths, with both local and international exhibitors participating annually. The products and services that are exhibited at GUYEXPO range widely and include food and beverages, handicraft, furniture, home decor, building materials, garments, jewellery, and horticulture, tourism, banking, insurance, government services, information technology, gadgets, entertainment and culture.

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