Private sector encouraged to invest more in sugar and energy

The government is calling for increased private sector participation in energy and traditional industries such as sugar, as it seeks to expand investment and diversify the economy.
Responding to a question from a media representative at a press briefing held at Freedom House on Thursday, Vice President Dr Bharrat Jagdeo said the government is pursuing joint ventures with international partners for the construction of a refinery.
He explained that projects of this scale are capital-intensive and strategic, requiring structured partnerships.
Dr Jagdeo said the administration is open to multiple consortia and investment arrangements, highlighting both local and international participation, including past partnerships.
“We’re hoping to get the private sector to invest more in sugar. We believe there is a lot of potential still in sugar to make money. We would want more private sector involvement, and not just here but in other consortia we’re planning,” he related.
The Vice President stressed that the government’s approach is not focused on single issues or short-term gains.
“Our approach is guided by long-term planning, sustainability and economic diversification,” he said.
The government’s call for greater private sector involvement comes as it continues to pursue ambitious projects in the energy sector and other industries.