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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Heavy focus on manufacturing as International Business Conference set for October
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The inaugural International Business Conference (IBC) will be held in Guyana from October 15 to 17 and in its first year, there will be a huge focus on pushing Guyana’s manufacturing sector.
The conference will be co-hosted by the Suriname- Guyana Chamber of Commerce (SGCC) and the Guyana Manufacturing and Services Association (GMSA). It was launched on Saturday at the Marriott Hotel, Kingston; the conference will also be held here.
SGCC Chairman, Vishnu Doerga emphasised that the conference is one that will be useful to the entire business community not just those in Guyana and Suriname.
And there is a huge focus on the manufacturing sector because of the opportunities available in Guyana.
Doerga pointed out that there are abundant primary products in Guyana and with cheaper electricity coming soon, the manufacturing sector is poised for a huge takeoff. As such, an opportunity to attract more international partners was recognised and is being pursued through the IBC.
He also noted that private sector players, including those from the SGCC, are keen on exploring other opportunities in real estate, infrastructure, mining, industrial services and tourism.
Because the conference organisers are focused on being as practical and beneficial to businesses and investors as possible, the SGCC Chairman said the entire conference is tailored towards connecting foreign investors with local businesses, business service organisations and other stakeholders.
He added, “We want the content presented at the conference to be for the purpose of educating the delegates on how they can do better business in Guyana.”
Guyana’s President Dr. Irfaan Ali is among the speakers for the event.
Doerga, however, noted that there will be a heavy focus on networking and business to business (B2B) activities.
GMSA President, Ramsay Ali told those gathered at Saturday’s launch that Guyana can become the “primary destination for manufacturing” in the Caribbean.
“It is crucial that we harness the momentum to foster partnerships,” Ali posited.
The IBC has the support of the Government of Guyana and there are numerous partnerships with various foreign delegations and Chambers of Commerce in Guyana.
Head of the Guyana Office for Investment, Peter Ramsaroop charged the organisers of the conference to “figure out how to close deals” at the IBC in October. For him, there have been many conferences already showing the interest in Guyana, and investing in Guyana, so there must be a greater focus now on getting business done.
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