President Dr Mohamed Irfaan Ali has called for a shift in the local private sector model from simply selling products to building complete industrial ecosystems.
He said that Guyana’s ambition must extend beyond retail and distribution towards assembly, manufacturing and value creation.
The Guyanese leader was at the time delivering the keynote address at the launch of CAM Motors and the official introduction of FOTON and JETOUR vehicles to the Guyanese market at Railway Courtyard, Lamaha Street in Georgetown, on Saturday.
President Ali said the launch represented more than the introduction of new vehicle brands and should be viewed as an opportunity to create supporting industries that encourage innovation, strengthen services and expand local capabilities.
“Our ambition must never be the buying and selling of things. Our ambition must be to develop an ecosystem around every single business initiative that we pursue,” the president stated, explaining that, “It’s not about launching the sale of a new brand tonight. It’s about the building of an ecosystem…that will support creativity, innovation and service delivery.”
President Ali has already challenged the company’s leadership to explore positioning Guyana as an assembly hub for emerging automotive brands.
According to Dr Ali, Guyana’s expanding market, deeper integration with northern Brazil, and future opportunities in the wider Caribbean create conditions for higher levels of manufacturing and assembly.
He said the government’s policy framework, including incentives in taxation, energy and technology, is designed to support industrial growth and reduce dependence on traditional sectors.
“That is what is going to take our country beyond the shores of oil and gas. That is what is going to take our country beyond the shores of sustainability, and that is what we have to build.”
President Ali reaffirmed his government’s support for stronger regional and international business partnerships, adding that local knowledge, regional expertise and international brands can collectively create greater economic opportunities.
Speaking on the introduction of FOTON and JETOUR vehicles, the president described it as another sign of the growing maturity of Guyana’s automotive market and increasing consumer purchasing power.
He said more Guyanese are now owning vehicles as incomes rise and opportunities expand, describing the growing demand for new vehicles as an indicator of improving living standards.