Guyanese-born Terence Yhip, an international economist who provides policy analysis and advice on economic matters, has urged Guyana to develop a comprehensive immigration strategy to alleviate its labor shortfall, highlighting the need to recruit global investors and talented diaspora groups.
The economist believes that the government must adopt a long-term growth and development strategy to manage mismatches between the demand and supply of vocational skills.
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He suggested that “A revamped immigration policy should be an integral part of the development plan. Guyana needs to subsume the diaspora initiative under a Ministry of Manpower and Immigration. The diaspora can contribute to the narrowing of Guyana’s skills deficit, but the emphasis ought to be on the ‘seine’ of immigration that will ‘catch’ talent in large numbers with a range of skills and know-how.”
The economist advised that authorities begin with a 10-year strategy. He also advised that they identify current imbalances and create a long-range demand-supply prediction to use as a planning tool. He emphasized: “With this structured approach, rather than an ad hoc, reactive diaspora policy, policymakers would have a better line of sight — like the greater visibility afforded by an elevated driving position in an SUV — of labor market developments to adopt corrective measures.”
Yhip added that the Labor Ministry will comprise of highly qualified individuals undertaking labor market analysis and forecasting to define manpower and immigration policies, including training, immigration numbers, and skill demands, “Through this structured approach, Guyana would be better equipped to provide social services, housing, health care, and so on. The Ministry would have the advantages of solid expertise, accountability and transparency for the recruitment and hiring process.”
“This Ministry would need to work in concert with critical Ministries like Health, Education, Transportation, and Home Affairs to provide high-quality services and conditions to attract and retain foreign talent,” he further noted.
Yhip emphasized that with the correct bureaucratic and administrative frameworks in place, Guyana should be able to use the Guyanese diaspora for knowledge transfer and investment opportunities.
Yhip also recommended, “There must be coordinated efforts by all critical Ministries to ensure high levels of services for Guyana to be seen as an attractive place to live and work. The diaspora can promote direct investment and create businesses, but the continuing racial division amongst Guyanese of African and Indian descent breeds political patronage, corruption, and encourages capital flight. These are not the conditions for economic transformation.”
Despite a 25% increase in business in Guyana’s Manufacturing and Services Industry, a severe skill and manpower shortage last year hampered industrial expansion and economic potential. In his annual report, GMSA President Ramsay Ali emphasized attempts to solve this issue, including conversations with the University of the West Indies’ Cave Hill School of Business and Management about manufacturing sector training requirements.
The GMSA President explained, “We agreed that research is first needed to identify the specific skills and knowledge gaps within industries. By conducting this research, targeted training programs will be developed to equip individuals with the necessary skills to fill the labor shortage.”
Furthermore, the businessman believes that collaborating with the University of the West Indies would ensure that the training programs are of high quality and meet worldwide standards. Following the discussion, the University of the West Indies Cave Hill School and GMSA signed a Memorandum of Understanding, which solidified our commitment to bridging these gaps.
