According to Guyana’s President Irfaan Ali, the country is expected to save over USD 60 million annually by 2027 on the importation of three key commodities, including shrimp. This significant reduction in import costs is expected to have a positive impact on the country’s economy.

Boosting Local Production through Agro-Processing

To achieve this feat, the government is focusing on creating an enabling environment for local produce and products to meet international standards. The president highlighted the importance of agro-processing, acknowledging its challenges such as capacity of scale and proper packaging and processing of products. He emphasized that agro-processors and exporters must utilize the food processing facilities established by the Guyana Marketing Corporation (GMC) across the country.

The government is committed to investing in the necessary infrastructure and programs to unleash the potential of agriculture entrepreneurs. In the next two to three years, significant resources will be allocated to agribusiness incubators, providing agro-processors with technology, knowledge, and support services. The president emphasized that successful agro-processors must be able to mobilize under a common roof, leveraging these resources to drive growth.

Regional Hubs for Improved Logistics

To further enhance the industry, the government plans to establish regional and sub-regional hubs by procuring more agro-processing facilities in various regions. This will improve shelf life, ease transportation and logistics, and increase efficiency.

Since 2020, the number of agro-processors has increased significantly from 116 to 283.