The third edition of the Caribbean Investment Forum (CIF) will take place in Guyana in July. It is expected to focus on the green economy transition, agri-tech, and innovation, digitalization and technology.
At the launch of the Investment Forum at the Guyana Marriott Hotel on Wednesday, the Executive Director of the Caribbean Export Development Agency (CEDA), Deodat Maharaj said the CEDA is pleased to bring the Caribbean Investment Forum to Guyana, as its drives economic development throughout the region.
Maharaj said the Forum, which attracted approximately 600 businesses and investors from 47 countries in 2022, and another 500 delegates in 2023, will see extensive discussions on the importance of a green economy, the use of technology in agriculture, and innovation, digitalization and technology in driving economy growth and development.
“We believe that it is pointless to exist as Caribbean export unless we drive an agenda that is transformational in nature. So, we are keen to focus on sectors that can really drive the transformation of our region. What are the three sectors: a green economy transition – getting investments in this area is vital for our region,” he said.
The CEDA Executive Director also noted that a study conducted by the Inter-American Development Bank (IDB) and the International Labour Organisation (ILO), indicated that the transition to a green economy could result in an additional 400,000 high paying jobs for the region.
Turning his attention to the Agriculture Sector, he said the region’s ambitious plan of cutting its food import bill by 25% by 2025 can be achieved with the effective use of technology, and the Investment Forum will dive into that area come July.
“The second area, and this is a natural fit for Guyana is agri-tech and agriculture. We know of the mission of our region to reduce our food import bill by 25% by the year 2025. Personally, I believe it is possible but with the understanding that we leverage technology in agriculture. So, we are not focusing at Caribbean Export on getting investment across the board. We can’t do that as an agency, but we are focusing on getting investments in the area of technology to boost agriculture because the rest of the region isn’t blessed like Guyana, Belize, Suriname, Trinidad and Tobago and maybe Jamaica, and therefore, think about lettuce being planted vertically in a skyscraper instead of planted on a ground using hydroponics technology and vertical farming,” he explained.
Further, he said traditional export models are now out of sync with the realities of today, and must therefore be remodeled using innovation, digitalization and technology to bring about better results.
Minister of Tourism, Industry and Commerce, Oneidge Walrond said the Caribbean Investment Forum augurs well for Guyana, and the Caribbean and Latin American Region.
“By sustainable investment, we mean investment that focuses on generating long-term value rather than short-term gains, while integrating economic, social, and governance objectives into investment strategies,” Minister Walrond said.
The Caribbean Investment Forum will be held in Guyana at the Arthur Chung Conference Centre from July 10-12, under the theme “Transforming futures, empowering growth.”
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