There is a high success rate of businesses from the United Kingdom taking advantage of the abundance of opportunities available in Guyana, and British High Commissioner Jane Miller believes there is more scope for such investments here, especially in the agriculture sector.
During a recent interview with this publication, the British Diplomat in Georgetown disclosed that she has been encouraging UK-based companies to contemplate investing in the local agriculture industry.
“I’d love to see the UK doing more in agriculture. We have some companies that have been coming out here doing very clear ways of, for example, better fertilizers, more efficient fertilizers, and fertilizers that are better for the environment. We have some companies that do drone assessments of farmlands, so you could be much more efficient in the way that you apply pesticides or herbicides or different things. So, I’d love to see more on that, and that is something I’ve been promoting. And I know President [Dr Irfaan] Ali is very keen to get more investments in agriculture, and that’s one area I’ve been trying to promote more,” Miller posited.
According to the High Commissioner, some interest has been forthcoming from some British companies, particularly those that trade in seed varieties and fertilizers. However, uptake in this area is slow at the moment, and she has therefore been pushing this.
Last year, the British diplomat had engaged members of the local private sector on potential areas of collaboration in the agriculture sector. Officials of the Georgetown Chamber of Commerce and Industry (GCCI) and its Agriculture Sub-Committee have highlighted gaps in the local agriculture sector, including the need for training and for increased incorporation of technology to better attain phytosanitary standards which are necessary for the export of Guyanese produce.
High Commissioner Miller had noted at the time that it would be beneficial for small-scale local farmers to form joint ventures to capitalise on economies of scale. She acknowledged the need for local produce to achieve the necessary phytosanitary standards, especially since there are UK businesses that are interested in importing fruits from Guyana.
In recent years, there has been a tremendous appetite by the UK Government and businesses for partnership with their Guyanese counterparts. Back in November 2022, the British Government lifted the visa requirement for Guyanese travelling to the UK, and a few months later, British Airways commenced flights to Guyana in March 2023.
Currently, Guyana and the UK share a vibrant trade relationship. In fact, trade between the two countries has increased to £1.8 billion – tripling over the last three years. Moreover, Guyana is the UK’s largest trading partner in the Caribbean, accounting for some 33.4 per cent of all its trade in this region.
So far, British companies have been attracted to business opportunities in Guyana in areas in the infrastructure sector, food and beverage industry, and in the healthcare sector; and in the services industry, including in legal, financial, cyber security and even engineering.
High Commissioner Miller believes that UK companies make for excellent business partners in Guyana’s burgeoning economy.
“I think Guyana is growing very fast at the moment and every sector – whether it’s agriculture, whether it’s tourism…so much is changing. And the UK, I think we have a very good offer: we provide very reliable, high-quality services. And something about UK businesses is that we come to a country and we want a long-term relationship. We’re not fly by night [partners]. We intend to come to a country, invest there, and then we want that long-term relationship. And this provides really high-quality services because we’re there for follow-up and servicing etc.,” she added.
In fact, British companies doing well in Guyana is evident in the many trade missions from the UK that have been visiting Georgetown to scope out investment opportunities.
According to Miller, these missions have been very successful in Guyana.
“We’ve been looking at the businesses that have been coming on the last few trade missions, and half of them – some 50 per cent of them – have either set up business here, or have got a local partner and (are) trading in Guyana. That’s a huge achievement. I’ve worked on trade missions in many countries, and that statistic is something you should be very proud of,” she has advised.
The last trade mission from the UK was in August, when His Majesty’s Trade Commissioner (HMTC) to Latin America & the Caribbean, Jonathan Knott, led a delegation to explore business opportunities here.
During a networking reception held by the British High Commission in Georgetown, Knott had told reporters that they are looking at opportunities for collaboration in the areas where Guyana is keen on developing, such as transport links, infrastructure, health and education, and especially energy.
Another trade mission is slated to visit Guyana from the UK in November, the British envoy revealed.
“On November 11, we’ve got a number of businesses coming through again, and I’m hoping that we’d have the same success. I think when people come here and they see the opportunities, they’ve really embraced them,” she noted.
Despite this success, however, the British High Commissioner believes there is scope for plenty more UK businesses to come here.
“We are encouraging businesses to come here. What we say to everybody is, ‘Come here’, and what we tend to find is that when businesses come here and they see the welcome of people here, they see the opportunities, then they want to invest. So, the first thing we say to businesses is to come here. And so we will continue having trade missions; we will continue to encourage people to come here. And secondly, we encourage people to have a local partner. Navigating the business environment can be complicated, but having a local business partner really helps businesses to navigate the local business environment. So, yeah, I’d love to see many more [British] businesses here,” the UK diplomat has asserted.
