Chinese-owned business leaving recession-hit Suriname for Guyana

Chinese owned business are migrating from recession stricken Suriname to Guyana. Over 50 supermarkets have opened in Guyana in the past six months, with 40 more expected to open by August 2017.

The recession in Suriname (due to several factors, chief among these the closure of the alumina plant and contractionary fiscal policy) has reduced purchasing power and reduced spending by as much as 50%.

These unfavorable conditions in Suriname, coupled with Guyana’s close proximity and new found oil wealth (which may position it as a major economic powerhouse in the Region), seem to be the main driving factor.

Link: http://www.caribbeannewsnow.com/headline-Dozens-of-Chinese-owned-supermarkets-leaving-recession-hit-Suriname-for-Guyana-33759.html

User Avatar

The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

Write a comment


The reCAPTCHA verification period has expired. Please reload the page.