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GOVERNANCE & ADVOCACY

GMSA’s President Mr. Shyam Nokta on the Energy Panel at the PSC Business Summit

Nokta raised several concerns related to the business Mr Nokta said regardless of this, Guyanese manufacturers have
environment, tax issues and cross cutting sectorial issues which remained resilient despite these challenges as he lobbied for
he said needed to be addressed if the local business climate the National Energy Policy and Strategy to be implemented
was to be improved significantly. He alluded to the fact that immediately so as to realise an energy mix. He reasoned that
historically, there has been a high dependence on the traditional if this can be accomplished, by 2025, manufacturing can grow
sector (rice, sugar, gold, bauxite etc.) as pleaded with participants significantly and the private sector will be able to capitalize on
to understand the important roles that non-traditional sectors the potential that oil and gas will bring with regard to the need
can play in achieving the same outcomes. for goods and services within the industry’s value chain.

Boosting, stimulating growth Nokta said as an example of what is possible; one can do an
analysis of the emergence of the local entity Plympton Farms
The GMSA President said that adopting a policy of diversification which started five years ago. According to him, this business now
with emphasis on creating economic sustainability with regards exports 100% of its product (hot peppers). It has become the
to the non-traditional sectors could see Guyana maximizing largest producer of this commodity within the Caribbean. The
the benefits from its emerging Oil and Gas Sectors to support business, he related, focuses on cultivation of peppers, in addition
social infrastructure while commencing a review process of the to processing, to ensure that there is a continuous supply. The
opportunities to be seized with respect to adding value to those business is also 100% HACCP (Hazard Analysis Critical Control
sectors. Point) compliant.

He reminded the Summit that manufacturing contributes 6 The GMSA Executive quickly turned his attention to the global
– 8% of the GDP. To increase manufacturing, and therefore, demand for food security which, he opined, presents enormous
there is need for retooling and the provision of clean, renewable, opportunities for Guyana to increase agricultural production and
reliable and cheap electricity. value adding. Nokta related too that the thrust towards a green
economy provides substantial opportunities for the future and

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