Hundreds of new jobs in technology, agriculture and more as Caribbean nations diversify away from tourism
GEORGETOWN, GUYANA — Hundreds of new jobs in new industries are emerging in the Caribbean thanks to the economic diversification brought on by the impact of the COVID-19 pandemic.
While the pandemic wreaked havoc on regional economies, a silver lining has been the development and expansion of new industries that could be far more resilient to external shocks.
Additionally, while many of the new industries involve technology, such as cybersecurity and video game development, some of the new sectors are capitalizing on agriculture.
This has the added benefit of potentially strengthening Caribbean economies while simultaneously advancing sustainable growth and the kind of development in agriculture that international bodies have recommended as the way forward for the region.
A different kind of oil in Guyana
However, it is now seeking to expand into a different kind of oil industry — palm oil.
According to the Guyanese government, “Although Guyana was once a producer of palm oil, the industry has been dormant for many years as no new plantations have been developed in decades.”
However, the government recently hinted that it is discussing the resurgence of this potentially lucrative industry with palm oil operators in Colombia.
Further, it said this plan, if successful, would primarily benefit Guyanese citizens and the local agriculture sector.
In a statement on the matter, the government said, “Over the last two years, there have been an influx of overseas companies signalling their interest in establishing new industries in Guyana.”
The government is “prepared to work with both the local and overseas-based private sector companies” in this regard, the statement added.
More oil development in Jamaica
Over in Jamaica, similar development projects are already being launched for entrepreneurs who are interested in entering the global essential oil market.
The essential oil industry has become big business in recent years as more people become sensitive to the use of natural products.
Now, and especially with the help of digitalization, entrepreneurs in Jamaica can stake out their claim in this billion-dollar industry as the Jamaica Business Development Corporation (JBDC) has launched an Essential Oil Incubator.
This facility grants Jamaicans access to the tools and resources needed to successfully operate.
Even further, it is expected to help even more young Jamaicans launch careers and start businesses in this global field.
Minister of State in the Ministry of Industry, Investment and Commerce Norman Dunn commented, “We have been tapping into the natural resource in this country, as well as the ingrained creative and entrepreneurial spirit, to develop high-quality, unique Jamaican products and services to meet global demand.”