Natural Resources Minister Vickram Bharrat has emphasized the significant value-added opportunities in Guyana’s forestry sector.
He encouraged European companies to invest in the sector, highlighting that it has not been fully explored despite having 1000 different species of wood.
While Guyana boasts the second-highest forest coverage globally and employs a superior management system, the logging industry primarily exports raw materials.
Minister Bharrat stressed the importance of investing in value-added processes to enhance business opportunities in the forestry sector while maintaining its viability.
Guyana’s forests, covering about 85% of the land area, include valuable trees like greenheart, wamara, and purpleheart, harvested for commercial purposes.
Despite being exported to various destinations, the country’s logging operations are highly regulated, with the majority of forests classified as state forests under the administration of the Guyana Forestry Commission (GFC).
In addition to the forestry sector, Minister Bharrat encouraged European companies to invest in the mining sector, assuring them of profitable benefits.
The government is committed to providing incentives for the mining industry while emphasizing responsible practices to safeguard the country’s forests.