Latest update February 8th, 2025 6:23 PM
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Work underway to develop furniture industry
The Ministry of Natural Resources and the Environment (MNRE) is collaborating with the Caribbean Centre for Competitiveness (CCfC) of the University of the West Indies (UWI) to undertake phase two of a project titled: Global Value Chain and Cluster Study of the Furniture Industry in Guyana. The
CCfC is funded by the IDB, DFID and the Canadian Department of Foreign Affairs, Trade and Development. Its purpose is to work with industry and regional governments to develop competitive strategies for sustainable development of targeted industries through applied Cluster and Value Chain Initiatives.
According to the Ministry, the ultimate objective is to define profitable business segments within which local industries can improve their global competitiveness through the use of industry clusters and improved positioning in global value chains.
“Phase one of this project was initiated by Caribbean Centre for Competitiveness (CCfC) and involved a detailed analysis of the global furniture industry and a preliminary review of the local industry. This phase concluded with a stakeholder consultation at the Herdmanston Lodge on March 16.”
Guyana is working on a plan to develop the local furniture industry.
Phase two of the project will take place over the month of March to early April and will involve a deepened analysis of the local industry through which a local cluster mapping of all stakeholders will be conducted and the local value chain constructed. This activity will determine the competitive strategic segments within which the Guyana furniture industry should focus its efforts.
“Interviews will be conducted with logging companies, sawmilling companies, furniture manufacturers and institutional stakeholders in order to develop a strong understanding of the current state of the industry and to appreciate possible future industry trends. This phase will culminate in a second stakeholder meeting at which the findings will be presented.”
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