Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Travel


Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin



News from the Caribbean:


Back To Today's News

Surinamese investors eye Guyana, but face corruption and bureaucracy
Published on July 7, 2014 Email To Friend    Print Version

rossignol_opening.jpg
Rossignol’s opening in Georgetown, Guyana. Photo: Guyana Times

By Ray Chickrie
Caribbean News Now contributor

PARAMARIBO, Suriname -- According to Paramaribo’s Waterkant News, Surinamese investors have their eyes set on neighbouring Guyana, where they are discovering more and more investment opportunities; however, they are very disappointed in the corruption and the bureaucracy they face there.

"Guyana is our main goal," said Anil Padarath, board member of the Chamber of Commerce and Industry of Suriname.

While there are some setbacks in establishing a business quickly in Guyana, investors are complaining that corruption is rampant and the bureaucracy is cumbersome. But this isn’t discouraging them from expanding their businesses in Guyana.

According to the Chamber of Commerce of Suriname, in the first quarter of this year alone, more than $30 million of products were exported to Guyana. The chamber wants nothing more than to encourage this trend.

“Guyana is very lucrative for Suriname. There is a good market for quality products from Suriname and there are many opportunities," said Padarath.

Investing and setting up businesses in neighbouring Guyana is becoming more widespread, he said.

"Rossignol Butcheries has been successful in Guyana," said Padarath.

The Surinamese company opened last year in Guyana a state-of-the-art meat market and bakery, the first of its kind in Guyana. They also sell Dutch cheese, which is a favourite there.

Big names like Rudisa Beverages and Fernandes from Suriname are also in Guyana. The insurance company Assuria made it first overseas expansion into Guyana. Surinamese entrepreneurs are already investing in oxygen production, mining and tourism in Guyana, the Waterkant News reported.

Padarath is impressed by the agricultural sector of Guyana and said it looks promising for Surinamese investors.

Besides Guyana’s culture of corruption and stifling bureaucracy that investors allege, they are also complaining about Guyana’s outdated and unfair investment laws. Rudisa recently won a case at the Caribbean Court of Justice against Guyana for unfair business practices.
 
Reads: 28588





Click here to receive daily news headlines from Caribbean News Now!



Back...

Comments:

No comments on this topic yet. Be the first one to submit a comment.

Back...

Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Comments:
Enter Code



Please note that, if you are using an AT&T domain email address, e.g. att.net, bellsouth.net, sbcglobal.net, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T





Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.



Other Headlines:



Regional Sports: