Greenidge says repossession of concessions from BaiShanLin “unfortunate”; should not affect relations with China

The Guyana Forestry Commission (GFC) will be moving to repossess concessions currently being held by BaiShanLin International Forest Development Inc. following the company’s failure to pay its debts.

Weighing in on the matter today, Foreign Affairs Minister, Carl Greenidge said this should have no effect on the relationship between Guyana and China.

“The laws of Guyana are paramount in Guyana and if a company has encountered financial difficulties there are processes by which the company has to treat with those to be able to either change their status or …in order to establish their financial viability,” the Minister noted.

He made it clear that the Government of Guyana has done nothing to render BaiShanLin financially unstable.

It was reminded that, like in any other country, companies have to abide by the laws and regulations they agreed to embrace when they entered the territory.

Greenidge said, “they have not been applied in any discriminatory manner against BaiShanLin, the responsibility of the company is to live within the laws and you don’t send a Guyanese businessman to Beijing or any other country or capital in the world and expect them to operate outside of the law.”

The Minister said it is unfortunate that the company had to encounter difficulties , but it is the expectation that the Chinese officials will maintain cordial relations regardless.

The Guyana Forestry Commission in a statement on Tuesday said the decision to repossess the concessions came after the company failed to deliver on agreed actions to introduce investors to the Commission.

The GFC informed that BaiShanLin was also given time to prove that it had an acceptable plan to clear an approximately 80 Million dollar debt.

The Commission says the actions being taken against the company are in keeping with Forest Governance Practices.