BVI to expand reach with trade mission to Guyana
The BVI is seeking to expand the reach of its financial services industry and strengthen its ties with Guyana through a planned trade mission to the country next month.
This is according to Deputy Premier and Minister for Financial Services, Labour and Trade, Lorna Smith, OBE.
Smith told the House of Assembly yesterday that Guyana has garnered global attention and is now recognised as the most promising investment destination in the western hemisphere.
She noted that the government of Guyana provides incentives to encourage investment in various sectors, including agriculture, business support services, health, information technology, manufacturing, and energy.
That country’s exceptional growth can be primarily attributed to the expansion of its oil and gas sector in recent years. Projections from the IMF show that Guyana’s GDP is expected to grow by 37% in 2023, driven by the discovery of more than 11 billion barrels of recoverable oil since 2015.
According to the Trade Minister, there is also a significant cultural connection between Guyana and the BVI, particularly with Guyanese forming the third largest immigrant group in the territory.
But Smith explained that, even as Guyana’s economy is booming, its infrastructure and technological advancements lag behind those of more developed nations in the region by nearly 30 years.
She said that gap provides an opportunity for businesses to contribute to, and benefit from Guyana’s rapid transformation, driven by its augmented budget and its flourishing economy.
“The BVI’s proposed trade mission to Guyana aims to seize this unique opportunity and establish stronger ties with Guyana, identify mutual growth opportunities and foster collaborative and prosperous relationships,” the Deputy Premier stated.
Smith shared that the potential benefits of this trade mission could significantly impact BVI businesses, even as it looks to cement a partnership that promises mutual prosperity and advancement for both territories.
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The bishop has already beaten her to it.
Stop requiring visas for Guyanese workers here!
Foolishness, Hon Lorna smith is about Country John is about self … Check your facts fool
We like to treat people like dogs but everything doesn’t stay the same always. I pray for the Guyanese. I hope this will benefit not just the rich and powerful in that country. We should be one Caribbean people pushing for all our success.
Don’t be fool by 37% GDP it’s white monopoly capital looking at it’s extraction of resources creating the real GDP earnings 100 times it’s extraction in its primary form, let’s say Johnnie cake and fish was to take off in the BVI, when put against Kentucky or subway it would not even count or be recognized unless it’s in foreign hands. Guyana nationals will be driven into poverty like Jamaica with all it’s bauxite or like African countries with all it’s resources. The financial service the BVI is trying to offer is to hide monies derived ostensibly legally for a few and not for the benefit of the poor. Since the dying of all the socialist party in Guyana, the white world is having it’s hay day of extracting wealth from the poor, the USA embassy is even giving visa to Guyanese to create a benign atmosphere while they plunder.
It is time for all Caribbean countries to ditch their colonial masters and unite as one people.
Nonsense not even the Guyanese themselves are partaking in the benefits of the oil. I thought you all said this woman was ready.
So let me get this straight, guyana is lagging behind other caribbean countries in technology and infrastructure and she plans to go there to offer BVI expertise on these issues?
What opportunities exist for the BVI in Guyana? There are no centres of excellence in the BVI from where knowledge, expertise or skills can be sent to other countries. There are no businesses in the BVI that can benefit from any “development” in Guyana.
The world is running away from oil. That is another scam and this country does not need to game apart of that.
Watch the bitter haters come out!!! Some of you small minded folks really need to travel and see the world.
@ reality check,
Visa, not needed or do need. It doesn’t matter for that group of people. Most of the counstruction worker will return by 2025.
I have checked that country’s GDP and nothing like Tola will ever catches up with it. In their cities, the internet service is a blast from your hotel room, or home in the countryside intent service from a home net is more that 600 years , in Tola you can hardly go to your kitchen before it start buffering. Their roads are four lanes in most parts towards the cities.
Banking is a hustler, paperwork is for ever and ever , when I think setting up an offshore account was just making an appointment, think again. I believe eventually it will happen, as once your appointment is missed, another does not automatically given, it’s perhaps another year before they see you.
I believe it’s best for BVI to get on board. The best agricultural school, for those who needed to be trained, medical partnerships for clerkship, construction skills are only FOUND with the experience people. So, Go 4 it. And expand BVI portfolios.
@ Eldred,
You are only looking at one side of the picture. There is more to garner on the other side of this country. Here are a few things I found out while doing a research. All Guyanese will benefit from the oil and gas industry after 2025, it was discussed that more grants, housing and education will be given to the less fortunate, the royalty will be shared among the citizens. Who is defined as a citizen left to be wondered about. As more than 10k Haitian and 100k Venezuelan are now in process of becoming. No one speak of the drug trade anymore.Have you notice there is no mention of the drug trade in the newspapers or even the media. Twenty years. ago it was a bit of killing going on which the police was involved.
There are more native millionaire among the young in that country, whose wealth is more than real estate than money in the bank, not much of them keep there money in the bank and most seek foreign country to be safe haven for their wealth, gold, diamond and precious stone. and billionaires I cannot mention then, as I got no research on them, . Foreigners,are always seen as the users of employment, so they are often watched.
I believe the media portray that country as poor by what definition I can hardly wait to see, and they keep it so for some purpose. But the BVI have a service to sell,and they should be allowed to set up office in Guiana , so that this country can also provide better life for its citizens, others are doing it , why not get a piece of the pie.
The Guyanese Government is as corrupt as they come. Same as Jamaica. Crimes can’t done. The Guyanese people cannot thrive on the gains from their Gas & Oil Industry. Too much Thievery, Bribery and the likes going on.
Strip Me Now!!!
“But Smith explained that, even as Guyana’s economy is booming, its infrastructure and technological advancements lag behind those of more developed nations in the region by nearly 30 years.” Guyana have way better roads than BVI their health system is better, they even offer services not offered in BVI, if their technology is lagging how come so many are in high position in BVI. lots of teachers, health workers???
The opportunity to open an infinite office in Guyana was presented to John and his brother and they have the means to make it happen. When you go to a country that don’t have paper to do simple copies why wouldn’t you take advantage. Some of you all to envious. Just take several seats
You all are quick to jump on John. The Guyana opportunity was handed to him. If you had the means to take advantage of the opportunity wouldn’t you do it. So back up him and his brother was was presented with the opportunity. So they took advantage. So check your facts before you talk
Presumably she will fly via Miami on American so she can travel first class, and fit in some shopping with the Govt Visa card on the way home.
I cannot wait to see this happens… these people expects us Guyanese to do business with them when they cannot even protect our daughters working on their soil in their country.They don’t even let justice take it’s course once the accused is a BVI national or belonger. They treat Guyanese victims as if they are nobodies and nothing but expect to do business with us… As a politician and a Guyanese national and a Sexual and Physical Assault Victim of a BVI National and a Victim of injustice of the legal system in the British Virgin Islands I will definitely stand against partnership once, and as long as my people (Guyanese Nationals) are being treated unfairly and unjustly in your country and on your soil
Not the first place I would have gone.
Do we even know what we are trying to achieve?
Do we have agreed national objectives.?
Or do we just run ad hoc concerts that no one cares about while the schools, roads and water fall apart.?
How the mighty have fallen! These are the same island people amd all the derogatory names you called them. They do not need anything from you but there is a lot you can benefit from them.
You campaigned on the Gun Crimes plaguing our territory and your resolve to tackle it. I know you can’t do it alone. But where does your priority lie? A Nation cannot be prosperous when riddled with Crimes. A Nation with increase Crimes is a Nation that is doomed. This is not good for our Lil BVI.
Something is wrong!!In two days again this will be stale news until it happens again. TALK TALK TALK but NO action.
Excellent, as a Virgin Islander, I want nothing to do with Guyana. I really rather our ministers focus on developing relations with wealthy nations rather than a set of broke countries, who gets a significant portion of their budget from begging for aid.
Yall continues to treat guyanese ppl like sh..
Don’t come we don’t need yall nasty ppl ato