Guyana’s economy is looking more lucrative to foreign investors as their numbers are increasing, this time with another Surinamese businessman taking the plunge in the local mining sector by investing millions of dollars in expanding his mining supplies company.
Located at Forshaw and Oronoque streets in Georgetown, HFD Mining Supplies is a subsidiary of a Suriname-based company specialising in supplying mining equipment throughout South America.
Mining sector
Owner of HFD Mining Supplies, Karel Dawson said he has been exporting high-tech gold detectors to Guyana for years and has observed the growth of the mining sector each year despite the fluctuation of the gold price; hence, his decision to enter the Guyanese market.
He added that his company is also the supplier of high-quality mining equipment imported from Brazil.
Dawson noted that his venture was made possible with the partnership of three other Surinamese investors.
He pointed out that the products offered by his company are compatibly priced with the local market, while noting that he is not looking for huge turnovers but to serve the needs of the mining sector fairly, while providing employment for Guyanese in the process.
Dawson, whose Suriname business is 20 years old, noted that he had his eyes on the Guyana market for some time now, but had to go through all the procedures before he could have set up shop. He noted that finding a suitable location and acquiring property were the two major factors he had to deal with.
Great job
“For businesses like this, we needed a property with a lot of volume, you have to look at the right building for you to set up your business and once you have that, it gets easy because the government is doing a great job for foreign investors,” Dawson stated.
He disclosed that now his business is in full swing, he will be looking to open sites in mining areas so that products can be readily available to miners when they are in need, rather than having to source them from Georgetown. The businessman noted that while security will remain a concern, businesses always go with risks.
Dawson told the small gathering at the opening ceremony of his company on Sunday that he feels at home when he is in Guyana because of the close relationship and similarities between the two countries.
He noted that his move into the Guyanese market is because of the local economic explosion over the decade.
“What’s happening here is not only an investment for me but a realisation of the dream of being a part of the continued economic explosion taking place in Guyana,” he stated.
He commended the government for the procedures in place, which he said are convenient and efficient.
Attending the opening ceremony was Natural Resources and Environment Minister Robert Persaud, who expressed his delight in seeing more Surinamese investors entering Guyana’s market.
He advised that Guyana’s private sector reciprocate and also look for opportunities in the neighbouring country.
Persaud said that investments such as this will strengthen the countries’ relationship. “The relationship between Guyana and Suriname is healthy, and it is our intention as the government to ensure that we maintain that good relationship and that at the end of the day, we make it possible for the business communities or even our political leaders to build on the successes we had so far,” the minister noted.
Expanding sector
He pointed out that Guyana has a dynamic mining sector, which is expanding and growing technologically, thus, the need for better environmental practices.
The minister disclosed that currently, there are 16,000 dredges in Guyana and close to 10,000 licensed operations, which is testimony to the success of the sector.
Minister Persaud urged the businessman to treat Guyanese miners fairly and not exploit them since the success of his business is linked to the miners.
