PRESS RELEASE: GMSA Elects New Board of Directors for 2025/2026
Georgetown, Guyana, May 8, 2025: The Guyana Manufacturing and Services Association (GMSA) is delighted to announce the successful election of its new Board of Directors for the term 2025/2026. The association’s Annual General Meeting (AGM), conducted in two parts, saw the election of the President and the appointment of key leadership positions within the organization. On April 4, 2025, thirteen board directors were elected through an electronic voting process by members who attended in-person. On May 7, 2025, the President, three Vice-Presidents and Treasurer were elected. The remaining members were elected to form the Board of Directors inclusive of Chairpersons of the various Sub-Sectors.
Rafeek Khan, Managing Director of Durable Wood Products, was elected as President of the Association. He will be supported by Ramsay Ali, CEO of Sterling Products Inc.; Vasudeo Singh, Group Finance Director & Deputy Chief Executive Officer of Demerara Distillers Ltd. as Second Vice President and Treasurer; and Roseann Bulkan, Manager of Bulkan Timber Works Inc. as Third Vice President. This diverse team and the expertise of the newly elected directors promises a vibrant and inclusive governance framework for the upcoming year.
Rafeek Khan is the founder and managing director of Durable Wood Products Inc. and DuraVilla Homes. He is a business developer with over 20 years’ experience in the timber industry involving sawmilling and manufacturing of building products used primarily for industrial residential construction.
Being an advocate for industry development in Guyana, Rafeek has been collaborating with government and key stakeholders, to support further growth and advancement for manufacturing in various sectors of the economy. Rafeek served as the President of the GMSA in 2022/2023, Vice-President of the GMSA from 2023/2024 and is Vice-Chairman of Private Sector Commission (PSC).
The 2025/2026 Board Members are as follows: –
- Durable Wood Products – Rafeek Khan, President of GMSA
- Sterling Products Ltd. – Ramsay Ali, First Vice-President, Chairperson of the Agro-Processing Sub-Sector
- Demerara Distillers Limited – Vasudeo Singh, Second Vice-President & Treasurer
- Bulkan Timber Works Inc. – Roseann Bulkan – Third Vice President & Chairperson of the Extractive Industries Sub-Sector
- Corriea & Corriea Ltd. – Dr. Marie Correia, Chairperson of the Construction & Engineering Sub-Sector
- Keen360 Inc. – Mr. Zahid Khan, Chairman of the Information, Communication and Technology (ICT) Sub-Sector
- EICCIO Advisers – Theon Alleyne, Chairperson of Services Sub-Sector
- Comfort Sleep Inc. – Dennis Charran, Chairperson of the Chemicals & Pharmaceuticals Sub-Sector
- DENMOR Garment Manufacturers Inc. – Upasna Mudlier, Chairman of Textiles & Sewn Goods Sub-Sector
- Rid-O-Pes – Timoty Tucker, Chairman of the Trade, Investment& Legal Committee, Board Member
- Banks DIH Limited – David Carto, Board Member
- Brass Aluminum & Cast Iron Foundry (B.A.C.I.F) – Peter Pompey, Board Member
- Environmental Management Consultants – Malisa Nokta, Board Member
- Edward B. Beharry & Company Limited – Raymond Ramsaroop, Board Member
- UMAMI Inc. – Chris Persaud, Board Member
- Barama Company Limited – Mohindra Chand, Board Member
- Vista Holdings Inc. – Orson Ferguson, Board Member
- Amaya Milk Company Guyana Inc. – Omkaar Sharma, Board Member
- New GPC Inc. – Keshwar Singh, Board Member
- Kanoo (Guyana) Inc. – Chet Bowling, Board Member
- National Milling Company of Guyana (NAMILCO) – Vishal Lalbachan, Board Member
The new Board of Directors is poised to build upon past achievements and set a strategic direction for continued excellence in serving the interests of Guyana’s manufacturing and services sectors.
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View the Board of Directors 2025/2026
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Press Release: GMSA Condemns Venezuelan Naval Threats in Guyanese Waters
Georgetown, Guyana, March 1, 2025: The Guyana Manufacturing and Services Association (GMSA) strongly condemns the unlawful incursion by Venezuelan naval vessels into Guyanese maritime territory, threatening the ExxonMobil’s Floating Production, Storage, and Offloading (FPSO) unit operating within the internationally recognized Exclusive Economic Zone (EEZ) of Guyana.
This action by Venezuela represents a direct violation of international law, which all states are required to uphold, and threatens not only Guyana’s territorial sovereignty but also the stability and economic security of our region. The GMSA stands in full solidarity with the Government of Guyana and supports all diplomatic and legal measures to ensure that our country’s rights are upheld under the 1899 Arbitral Award and the ongoing proceedings before the International Court of Justice (ICJ).
Guyana has experienced significant growth driven by the stability and security that our nation has upheld. This unwarranted act of aggression threatens the economic progress of our business community, jeopardizes multinational interests and the broader investor confidence.
We remain steadfast in our advocacy for peace, stability, and regional cooperation and urge all stakeholders to unequivocally condemn Venezuela’s reckless provocations. A diplomatic resolution must be pursued, but the onus remains on Venezuela to respect international law and uphold mutual respect.
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Press Release: GMSA Welcomes Provisions in 2025 National Budget
Georgetown, Guyana, January 23, 2025: The Guyana Manufacturing & Services Association (GMSA) is pleased to acknowledge the new measures introduced in the 2025 National Budget, which promise to bring substantial benefits to employees and businesses alike. These initiatives reflect the government’s commitment to addressing key concerns within the manufacturing and services sectors. The manufacturing sector saw an expansion of 13.5% in 2024, driven primarily by ‘other manufacturing’. This growth signifies a strategic shift from reliance on traditional manufacturing sectors such as rice and sugar towards a broader manufacturing base such as non-metallic and fabricated metal products, beverages and processed food.
The services sector, which remains a critical pillar of Guyana’s GDP, also experienced notable growth, expanding by 7.4% in 2024. The GMSA recognises that the services sector plays a vital role in providing essential support to the manufacturing industry and driving overall economic growth.
Key Highlights from Budget 2025:
Several key initiatives announced in Budget 2025 are poised to significantly benefit the private sector.
A. Labour, People, and Quality of Life:
- Income Tax Adjustments: The increase in the income tax threshold to $130,000 per month and the reduction in personal income tax rates from 28% to 25% and 40% to 35% are expected to provide much-needed financial relief to the working population, making more disposable income available.
- Tax Relief on Overtime Income: The introduction of a non-taxable allowance for the first $50,000 earned from overtime work and second jobs, will incentivize the earnings of workers who work additional hours and jobs. This will be beneficial to local manufacturers, alleviating labour shortages and meeting the growing demand in both the manufacturing and services industries.
The GMSA advocated for these measures for some time, and we are pleased to see our recommendations implemented.
- Free University and Technical & Vocational Education: With Guyana’s expanding labour market, the government’s commitment to offering free university education and technical training aligns with the GMSA’s vision of ensuring a skilled and educated workforce. The GMSA also advocates for greater emphasis on STEM (Science, Technology, Engineering, and Mathematics) and TVET (Technical and Vocational Education and Training) fields, which include disciplines crucial for the country’s long-term development.
B. Energy Interventions:
- Gas-to-Energy (GtE) Project: The development of an additional power plant under the Gas-to-Energy (GtE) project aims to provide additional and affordable power supply for businesses and consumers. This will catalyse the full potential of the manufacturing sector by providing more affordable and reliable energy for production.
- Removal of VAT on Backup Generators: The removal of VAT on backup generators will offer immediate relief to small businesses struggling with the challenges of the current electricity distribution.
C. Agro-Processing:
The GMSA advocated for several measures aimed at supporting agro-processing, which were included in Budget 2025:
- Removal of VAT on Agricultural Machinery: This will reduce costs for the agro-processing sector, encouraging investment in modern machinery that will improve efficiency and productivity.
- Removal of VAT on Automated Poultry Pens and Veterinary Supplies: This measure will enhance the capacity of the poultry industry by improving efficiency and addressing ongoing challenges in livestock health, thereby boosting local production and reducing dependency on imports.
GMSA’s Vision for Continued Growth
The GMSA is committed to collaborating with the government on policies that will positively impact the manufacturing sector. The association is hopeful that further initiatives will be considered to drive continued growth:
- Expansion of the Zero-Rated List: The GMSA proposes expanding the zero-rated supplies to include more competitive locally made products, such as chowmein and vermicelli, which will stimulate local consumption and support domestic manufacturers.
- Corporate Tax Adjustment: The GMSA urges the government to consider adjustments to corporate tax rates to further enhance the competitiveness of Guyanese businesses.
- SME Support for Market Development: The establishment of a dedicated budget for SMEs in market development and exhibition will help local businesses access international markets and grow their reach.
As the country’s population continues to grow, driven by an influx of foreign nationals, local consumption has increased significantly due to the rising demand from a diverse population. This trend is encouraging for businesses, as it signals demand and new opportunities for growth, fostering a favourable environment for business expansion and profitability.
The GMSA remains committed to collaborating with the government to ensure that policies continue to support the manufacturing and services sectors and that Guyana’s private sector remains competitive, resilient, and poised for success in the years to come.
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More Guyanese need cybersecurity, AI training – PM
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Prime Minister Brigadier (Ret’d) Mark Phillips believes that more Guyanese should be trained in cybersecurity and Artificial Intelligence (AI) to help protect themselves and the country from emerging threats.
The Prime Minister, who is performing the duties of President, spoke at a technology conference sponsored by DynamIQ on Thursday.
“We must prioritise education and skill training in the fields of cybersecurity and AI so that our people are not only consumers of technology but also creators and innovators in this space,” the Prime Minister posited.
The conference was organised by the Guyana Manufacturing and Services Association (GMSA) in collaboration with the Georgetown Chamber of Commerce & Industry (GCCI). It was held at the Pegasus Hotel, Corporate Suites in Kingston, Georgetown.
The Prime Minister said such conferences are crucial because they facilitate much-needed discussions on new developments. In this case, he said the focus on technological advancements and the need for cybersecurity solutions are of national importance.
And he told the gathering that the government is focused on technological developments locally but it is not unaware of the need to beef up cybersecurity to protect against threats to privacy, economic stability, and national security.
Other stakeholders agreed that there should be a much greater focus on cybersecurity in Guyana.
DynamIQ Chief Executive Officer (CEO), Akiel Ghany contended that cybersecurity solutions should not be an afterthought. Rather, he said, these solutions should be an integral part of any organisation’s work.
And he believes that DynamIQ, a new joint venture between ENet, Guyana’s only locally-owned telecommunications provider, and Memory Bank Computers, is a company capable of providing the solutions needed.
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Guyana to Exhibit at America’s Food and Beverage Show & Conference 2024
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A range of products from Guyana will be on display at the 27th America’s Food and Beverage Show and Conference 2024, to be held at the Miami Beach Convention Center, September 16-18, 2024. This is the first time Guyana will participate as an exhibitor in this show, which is slated to attract some 900 exhibitors and 20 country pavilions.
This event is put on by the World Trade Center Miami which earlier this year signed a Memorandum of Understanding (MOU) with World Trade Center Georgetown, Guyana for collaboration in trade expansion through provisions for enhanced product visibility, easier market access and the exchange of trade missions.
Guyana’s participation in this event is made possible through the newly established World Trade Center, Georgetown, which is facilitating the exhibits of products from five (5) local export ready companies. Exhibits of DDL’s range of internationally acclaimed El Dorado rums and its Tropical Orchard Products Co. (TOPCO) fruit juices, along with packaged seasonings from Roy’s Extra Quality Products, different types of sauces from Umami, and a variety of BBQ sauces from SS Natural Fruit Flavored Inc., will be on display.
This business-to-business show and conference is expected to have 7,300 attendees from 93 countries and will provide a unique opportunity for manufacturers and buyers to get together in fulfillment of their shared objectives.
Guyana On A Mission
Ivan Barrios, president and chief executive officer of WTC Miami says he is pleased Guyana will be featured among some 900 exhibitors from 20 countries from five continents.
President of the Guyana Manufacturers and Services Association (GMSA) Ramsay Ali says Guyana’s exhibiting in the show and conference, demonstrates that the participating companies are fully export ready and well prepared to enter international markets.
On behalf of the Guyana Manufacturing & Services Association (GMSA), I would like to express our deepest appreciation to Demerara Distillers Limited (DDL) World Trade Centre Georgetown for the opportunity to have products from three of our members —Umami Inc., S. S. Natural Fruit Flavor Inc., and Roy’s Extra Quality Products— showcased at the 2024 Americas Food & Beverage Show & Conference in Miami this month.
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Upcoming IBC promises to bring together business owners, investors
-business start-up, supply sourcing ideas to be shared
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CATAPULTING businesses to a new level, the upcoming International Business Conference (IBC) promises to be the ideal platform to pair up local businesses and investors.
This is according to the Guyana Manufacturing & Services Association (GMSA), Executive Director Nizam Hassan, who, in a recent interview with the Guyana Chronicle shared that the GMSA is collaborating with the Suriname-Guyana Chamber of Commerce (SGCC) to host an International Business Conference focused on investment opportunities and manufacturing in Guyana.
“The conference aims to address challenges and promote collaboration, particularly in energy-efficient manufacturing to position Guyana as a Caribbean manufacturing hub. It will also provide information on setting up businesses, networking opportunities, and supply sourcing within the Caribbean Community (CARICOM),” Hassan said.
He pointed out that the conference’s agenda has been strategically crafted to ensure that businesses, especially those within the manufacturing sector in the region can access investment opportunities both locally and internationally.
Business owners and investors alike will have access to key information all in one space.
“It’s sort of like to shorten the learning curve in a new marketplace,” Hassan said.
He further urged local manufacturers to participate in the upcoming conference, pointing out the opportunity to share with international partners the expansive prospects that exist for investments.
“We’re pushing to position Guyana as the manufacturing destination for the Caribbean, especially with energy costs projected to be lower than what they currently are. And energy being one of the major contributors in any manufacturing process, in terms of the cost structure, the cost of energy plays an important part in any business taking the decision to go into manufacturing in Guyana,” he said, adding: “Guyana is just moving. There are always business opportunities daily that are mushrooming, and those that have gone past mushroom and growing into plants and are growing bigger into trees.”
The conference, he reiterated, will provide information on all that is required, from initially setting up a business in Guyana, whether it is an enterprise or limited liability company, who are the agencies, or what are the agencies that need to be contacted.
He stressed that there will be stakeholders and speakers at the conference who will guide, listen and respond to queries.
“Sometimes there’s going to be challenges that as a business progress they will experience, but those challenges will be discussed and solutions will be preferred…for policy makers, for businesses, for business support organisations to support government agencies to implement, to reduce those challenges, if not eliminate them. So, it is the conference in which delegates will have that information all at once, well over three days.”
IBC is slated to be held at the Marriott Hotel from October 15 to 17. It has been said that the IBC will focus on streamlining the ease of doing business and facilitating investments between international businesses and Guyana and Suriname in key sectors including, energy, infrastructure, finance, logistics, agriculture, and business support services.
The IBC is expecting over 100 speakers, and more than 500 delegates, with in excess of 15 conference sessions.
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