–El Dorado Reimagined brand forms part of strategy to modernise industry & expand country’s presence on international market
Guyana is aiming to establish itself as a global gold and jewellery hub by 2030, with the Government pursuing a comprehensive strategy to modernise the industry, increase production and position locally made jewellery on international markets.
Technical Consultant to the Ministry of Natural Resources, Dominic Gaskin, outlined the vision during an appearance on the Starting Point podcast, where he discussed the recently launched El Dorado Reimagined national gold and jewellery brand.
Gaskin said the ambition to transform Guyana into a gold and jewellery hub came directly from President Dr. Irfaan Ali, who has expressed an interest in the sector and wants the country’s gold and jewellery businesses promoted under a single national brand.
He explained that the vision subsequently developed into a broader strategy for the sector, with El Dorado Reimagined serving as the umbrella brand through which Guyana’s gold and jewellery products can be promoted locally and internationally.
The Guyana Gold Board owns the brand and has established a programme management unit responsible for implementing the development strategy and administering the licensing programme.
Gaskin clarified that El Dorado Reimagined is not a stamp or physical mark placed on jewellery.
Instead, it is a licence issued to qualifying jewellers who satisfy established criteria, allowing them to promote their businesses and products under the national brand.
The Government will also assist with promoting the brand internationally, meaning licensed businesses can benefit from the wider marketing campaign.
According to him, the strategy represents a significant departure from the way Guyana’s jewellery industry has traditionally operated.
He said the objective is to achieve a structural transformation of the sector by introducing greater use of technology, improving productivity and significantly increasing the scope and scale of activities.
The strategy contains 15 strategic initiatives aimed at addressing gaps and deficiencies that have hindered the industry’s development over the years.
Gaskin said the success of the national brand will also depend on the standards attached to it.
Jewellers seeking to operate under El Dorado Reimagined must comply with the relevant standards for the products they sell.
While Guyana has had a mandatory gold standard for approximately three decades, new standards have now been developed for silver, platinum and palladium, along with standards relating to diamonds and testing of high-purity metals.
The licensing criteria also extend to business practices.
He said licensed businesses must provide detailed receipts that accurately describe the jewellery being sold, including information such as the karat of gold and relevant diamond specifications.
Businesses must also indicate the payment methods they accept and offer non-cash payment options. Their names must be prominently displayed on their premises and correspond with the name of the licence holder.
Another important element of the brand is the sourcing of gold.
Gaskin said jewellers operating under El Dorado Reimagined will be required to use gold that is ethically and legally sourced, which in Guyana largely means gold purchased through the Guyana Gold Board.
He said this requirement is intended to strengthen the authenticity of the brand while giving consumers greater confidence in the products they purchase.
Beyond creating a national identity for Guyanese jewellery, Gaskin said El Dorado Reimagined is intended to provide local jewellers with access to international promotional opportunities.
Once licensed, businesses will be able to benefit from marketing campaigns, trade shows, digital promotions and efforts to bring international buyers to Guyana.
He said the businesses licensed under the brand would be among the principal beneficiaries of these initiatives.
