Agriculture is the main economic activity, accounting for half of export earnings.

Already a major producer of sugar and rice, Guyana has ample land suitable for agriculture and with sufficient investment could feed the region

WHILE sugar and rice will continue to be the mainstay of Guyana’s agricultural sector for the foreseeable future, there is plenty of scope for investors to develop non-traditional areas of food production. Guyana’s coastal areas offer fertile, irrigated land highly suitable for fruit, vegetable, dairy, beef and organic farming. The authorities are eager to encourage diversification and to develop processing and semi-processing activities.

There is ample pasture for cattle, and Guyana boasts one of the largest herds in the region. Furthermore, it is only the second country throughout South America to have been certified free of foot-and-mouth disease.

Meanwhile, the sugar industry is responding by making itself more competitive and seeking to develop new products. The Guyana Sugar Corporation (Guysuco) is undertaking a US$165 million modernization program, including the construction of a new US$135 million sugar-processing factory, distillery and refinery at Skeldon in Eastern Guyana. Overall production is expected to grow by more than 25 percent over the next four years.

Marine fisheries are being developed, with shrimp, prawn and finfish exports already accounting for approximately 12 percent of total exports, mostly to the United States. Inland fish farming has become one of the fastest growing industries in the country, and demand for its produce is rising.

The New Line Aqua Farm, in West Coast Demerara, is a prime example of the kind of development the government wants to see. With the help of bank loans almost totaling US$1 million, the operation has already expanded from seven ponds in 2003 to 150 ponds. Each can hold 100,000 fish—enough to produce 100,000 pounds of fish per pond every six months.