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Guatemala asked to invest in sugar industry

Last Updated on Saturday, 26 December 2015, 21:00 by GxMedia

Faced with steadily declining production by the state-owned Guyana Sugar Corporation (Guysuco), Guyana is courting the Guatemalan private sector to invest in the sugar industry here, Foreign Minister Carolyn Rodrigues-Birkett said Monday.

She said officials of the company named San Diego have been already in contact with Guysuco to prepare for a visit to Guyana where they would explore setting up a private sugar factory.

“The authorities in Guysuco are already in touch with a company in Guatemala who has shown a keen interest in working in the sugar sector in Guyana. We hope that those discussions would be fruitful,” the minister told a news conference. San Diego operates a factory named Trinidad. However, a top Guysuco official on Monday told Demerara Waves Online News that he was unaware that the Guatemalans have contacted the corporation.

With that Central American country ranked 3rd globally in sugar production and efficiency, Guyana hopes to tap into the expertise from that private-sector led industry.

Guyana hopes that Guatemala will help local craftsmen and woman to learn how to improve their product quality and organisation.

Guysuco last year recorded its lowest every sugar production in 22 years-186,807 tonnes. 

The Guyana Agricultural and General Workers Union (GAWU) has cited poor field husbandry while the company has blamed bad weather as well industrial unrest.