{"id":26179,"date":"2025-02-08T21:09:16","date_gmt":"2025-02-08T21:09:16","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=26179"},"modified":"2025-02-08T21:09:17","modified_gmt":"2025-02-08T21:09:17","slug":"governments-strategic-investments-revitalize-forestry-and-bauxite-sectors","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/governments-strategic-investments-revitalize-forestry-and-bauxite-sectors\/","title":{"rendered":"Government&#8217;s Strategic Investments Revitalize Forestry and Bauxite Sectors"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Samuel Sukhnandan | January 6, 2025<\/em><\/p>\n\n\n\n<p>President Dr. Irfaan Ali outlined the government&#8217;s strategic investments in revitalizing the forestry and bauxite sectors, crucial components of Guyana&#8217;s economy. <\/p>\n\n\n\n<p>Speaking during a live broadcast of <em>Growth Agenda: Progress Under Review<\/em>, he highlighted several key initiatives aimed at stimulating growth and job creation in these industries.<\/p>\n\n\n\n<p>In the forestry sector, over 150 small concessions and five large concessions have been issued, accompanied by the removal of VAT on machinery and equipment. <\/p>\n\n\n\n<p>These efforts have resulted in a production increase of $15.6 billion, with 550 small miners occupying 2.5 million hectares of land and 22 medium-scale foresters using 2.7 million hectares. <\/p>\n\n\n\n<p>Additionally, a revolving fund has been introduced to assist small and medium-scale foresters in growing their operations.<\/p>\n\n\n\n<p>Dr. Ali stressed that the government is focused on reducing costs, diversifying products, and increasing production to rebuild the sector, with an emphasis on retaining jobs that were previously lost.<\/p>\n\n\n\n<p>Turning to the bauxite sector, Dr. Ali revealed that the government is supporting a $470 million aluminum plant project. <\/p>\n\n\n\n<p>In 2024, the bauxite industry is expected to generate 500 new jobs, with another 500 jobs anticipated in 2025 as part of the sector&#8217;s planned expansion.<\/p>\n\n\n\n<p>Both sectors are poised for continued growth, with the government&#8217;s policies and investments expected to contribute significantly to economic development and employment opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Samuel Sukhnandan | January 6, 2025 President Dr. Irfaan Ali outlined the government&#8217;s strategic investments in revitalizing the forestry and bauxite sectors, crucial components of Guyana&#8217;s economy. Speaking during&hellip;<\/p>\n","protected":false},"author":4,"featured_media":25085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[],"class_list":["post-26179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=26179"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26179\/revisions"}],"predecessor-version":[{"id":26180,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26179\/revisions\/26180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/25085"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=26179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=26179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=26179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}