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Back You are here: Home Tourism & Travel Tourism & Travel News Business Travel Bright outlook on Guyana’s economy – says Invest Guyana magazine

Bright outlook on Guyana’s economy – says Invest Guyana magazine

Invest Guyana magazine

Georgetown, GINA, May 9, 2013 - With growth projections this year at 5.5 percent by the International Monetary Fund (IMF) and six percent for 2014, major infrastructure projects to boost tourism, and growing investor confidence, Guyana’s outlook was described as promising when the first ever ‘Invest Guyana’ magazine was launched this evening.

 

Unveiled by President Donald Ramotar in the presence of its Publisher and Managing Director of Advertising and Marketing Services (AMS) Lokesh Singh and Business Consultant and editor Sandra Ann Baptiste, the magazine will be another tool to market the country’s investor environment.

The publication which President Ramotar said he will ensure is in the possession of all Guyana’s overseas missions sheds the spotlight on a range of infrastructure projects and, business ventures.

The 96 – page magazine, articulates success stories of local and regional investments, such as the Marriott Hotel and the establishment of the US$5M Barbadian invested mega farm in Region Nine.

Four local Guyanese businesses Giftland Office Max, JR Burgers, Avinash Complex and Choice Hotels have been featured while Sattaur Gafoor featured as its “Icon of Enterprise,

The cover of the magazine integrates the national map and flag of Guyana and a bag of gold coins each depicting images of some of the major sectors driving the economy; mining construction and agriculture. It carries the theme “Discover Golden Opportunities.”

A QR code on the bottom left of the cover, can be scanned using a smart phone for an online publication of the document.

Invest Guyana is an annual business publication highlighting business developments and performance of various sectors of the economy, targeting local and foreign investors with a focus on investment opportunities. Such opportunities, the overwhelming majority of speakers at the launch have been assured are undoubtedly in abundance in Guyana.

“Guyana is economically on the rise and of great interest to investors both domestically and internationally. There is therefore, an obvious need for a magazine that covers the investment scene in Guyana – opportunities, protocol, success stories,” Canadian High Commissioner to Guyana David Devine said in his remarks.

The publisher spoke of the evident growth in the economy over the last five years, development in the private sector, and increase in visitor arrivals in his attempt to show how important it is to maximise on the opportunity to create awareness about investment opportunities to foreigners.

Acting Tourism Minister Irfaan Ali, who holds the portfolio as Minister of Housing and Water detailed the success stories in the building and construction sector, projections about visitor arrivals compared to last year, upcoming video documentaries on Guyana and trade shows in Miami and Toronto where the country will be represented.

The accomplishments in Guyana’s economy, even in a period of turmoil in the global economic environment, were credited to the “sound state” of the country’s macro-economic fundamentals.

According to President Ramotar, Guyana has enjoyed sustained exchange rate stability, constantly low inflation rates, interest rates that have influenced an exponential increase in commercial lending, a manageable debt to Gross Domestic Product (GDP) ratio and healthy international reserves.

The government’s support to investment in nontraditional sectors such as tourism and agri-business has potential to open new poles of growth “well into the distant future,” President Ramotar said.

“We have already begun the process of fashioning a new economy, one that modernises the traditional sector and diversifies into nontraditional ventures, such as agro processing, tourism, Information Communication Technology (ICT) and increased trade,” President Ramotar said.

AMS with offices in St. Lucia, Antigua and Barbuda and Guyana is a full service advertising, marketing and publishing group specialising in the design and print production of advertising based business, tourist and specialty publications and creative marketing concepts. It has published “Explore Guyana”, “Guyana Gold”, “Horizons”, “Fast Lane” and the Guyana tourist map.

Singh’s 30 years as a publicist publishing and an advertiser also includes 20 years with the Caribbean Publishing Company which produced Telephone Directories for Cable & Wireless in the Caribbean.

He also served as Guyana’s Honorary Consul in St. Lucia for the past 15 years.