Georgetown : Dr Ajeenkya D Y Patil, Chairman of Ajeenkya D Y Patil Group and Honorary Consul General to Guyana in Mumbai, India, is of the view that agriculture in Guyana “is a winning proposition with positive advantages for all stakeholders involved.”
In a recent press release from the Group it was announced that this opportunity will be presented to potential investors in Dubai this coming November.
Dr. Patil has stated that investing in Guyana “is a financially viable and potentially profitable proposal for investors in the region due to the global growth in demand for agriculture produce”.
“The region is unexploited and is economically robust and politically stable. It will improve the quality of life of the average Guyanese citizen and increase the economic vitality of the country. And all of this backed by the experienced management of the Ajeenkya DY Patil Group."
The Group has noted that untapped Caribbean countries’ rich, fertile soil holds food security and investment opportunities. Well-established export trade and duty laws make it an attractive proposition.
Additionally, given the lack of annual rainfall in the Gulf region, high-scale commercial food production is not viable, hence Middle East countries continue to safeguard food security and supply issues by investing overseas.
Another key indicator is the population boom in the region, meaning local agriculture is unable to meet the consumption demand.
It was observed that Guyana already has a well-established export industry. It currently exports to Canada, USA, nearby Trinidad and Tobago and Jamaica , whilst also trading as far afield as the UK and the Netherlands. In fact 75% of Guyana's exports enter destination markets duty free, making it an attractive trading partner.
Guyana’s other advantages were also observed by the group including its highly fertile soils particularly in coastal areas which offer large development initiatives, whilst an abundance of grass land can be used for producing beef, milk, mutton, fruits and other non-traditional crops. The country has also been certified as foot and mouth disease free – an added advantage in exporting meat products.
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