October 20, 2024
Guyana’s manufacturing sector is experiencing significant expansion, driven by a growing population and an increasing demand for goods, according to Ramsay Ali, President of the Guyana Manufacturing and Services Association (GMSA).
Ali shared his insights during the recent International Business Conference, where Guyana was showcased as an ideal investment destination for manufacturers.
Ali highlighted the country’s increasing population as a critical factor in the growth of manufacturing, as it creates a larger consumer base that directly boosts demand for locally produced goods.
He emphasized that this growing market offers new opportunities for manufacturers to expand their reach within the country and beyond.
A key issue discussed by Ali was the need for stable and affordable electricity to support the manufacturing industry.
He reassured attendees that significant investments are being made to improve the energy grid, which will lower energy costs and enhance the reliability of the electricity supply.
These improvements, he noted, are essential for manufacturers to feel confident in investing in new equipment and expanding operations.
Ali also encouraged potential investors to take immediate action, stressing that opportunities in Guyana’s manufacturing sector are rapidly emerging.
He advised investors to build partnerships and seize the moment, warning that delay could result in missing out on these growing prospects.
Ramsay Ali, who serves as President of both the GMSA and the Caribbean Manufacturing Association, expressed optimism about the future of the sector, citing the favorable conditions for investment and growth in Guyana.