Minister: More private sector investment means more job opportunities
GEORGETOWN, GUYANA — A new shipping company is about to open and create dozens of new jobs in Guyana, according to Minister of Public Works Juan Edghill.
Even further, the new business brings with it the promise of more future investments in new fields in the country, helping to further diversify the economy and launch Guyana as something of a “hub” for developing industries.
CS World Cargo Inc., a supply chain and logistics company, just launched last month with the promise of creating “a number of jobs for Guyanese.”
Commenting on the launch and its immense potential as far as jobs are concerned, Minister Edghill noted, “What people need is opportunities.
“When opportunities are created, the sky is the limit.
“That is why our government, inasmuch as we are expending a significant amount of monies in our social services, it is not just about sharing out money.
“We must also look to see the opportunities that exist, and from where I stand, every day, I see opportunities in Guyana.”
Potential for more jobs in Guyana
An official government statement on the launch likewise emphasized, “Foreign and local investors are recognizing Guyana as a hub of potential.
“To this end, the country has seen tremendous growth in private sector investments, moving it further along its development trajectory.”
This comes as economic diversification has been a popular topic among regional governing bodies, especially in the aftermath of the COVID-19 pandemic.
Several nations have increased their efforts to diversify away from tourism and become global “hubs” in fields like IT, cybersecurity and even cryptocurrency.
While Guyana was one of the few Caribbean countries that fared well during the pandemic, thanks to its wildly successful oil and gas sector, it nonetheless has undertaken efforts to diversify into emerging industries.
The launch of CS World Cargo Inc. signals new potential for Guyana, and possibly other Caribbean nations as well, to join the global supply chain industry and provide new pathways to gainful employment for its citizens and residents.
Additionally, the organization itself promises quite a lucrative start in Guyana, with the government outlining its success in the USA, United Kingdom and Hong Kong.
“It has already invested over USD$1 million into Guyana’s economy, with a plan to invest an additional USD$5 to $7 million in various sectors,” the government noted.
“Within five years, the company is looking to employ between 25 to 50 people as part of its agenda for continuous expansion, as well as open regional offices in Rosignol and Parika.”