TWO businessmen told Newsday on Tuesday that TT businesses operating in Guyana were closely monitoring the situation with Venezuela's claim to the Essequibo, with one man saying businesses were already making small adjustments to their daily operations.

Newsday spoke to TT Manufacturers Association (TTMA) head Roger Roach and Caribbean Chemicals head Joe Pires.

On Monday, Venezuelan President Nicolas Maduro claimed a massive victory in a referendum on Venezuela's stance on Guyana's Essequibo region, amid a reported 10 million turnout of 20 million electorate who variously supported five questions on Venezuela's claim to the Essequibo and a rejection of the remit of the International Court of Justice by margins of 95.4-98.11 per cent.

However, several international news media disputed the reported turnout as did several Venezuelans throughout that country whom Newsday interviewed.

Roach reckoned it was still early in proceedings, with a lot of room left for diplomacy.

"Certainly we are monitoring the developments in Guyana, just like the rest of the world."

He said TT had a number of companies operating in Guyana.

"We have local companies who have invested in Guyana – Republic Bank, Massy, Ansa McAl, Coosal's, Junior Sammy. There are a number of TT companies who are not only registered in Guyana but are operating in Guyana – Ramp Logistics and so on.

"So we are monitoring the situation closely. Our products are distributed throughout Guyana, inclusive of the Essequibo area.

"We are monitoring it closely and as the developments unfold, we'll probably be in a better position to make a more comprehensive statement."

Newsday asked if it was yet time for TT companies to consider emergency/evacuation measures for their staff from Guyana.

Roach replied, "Businesses usually have business continuity plans, but it is too soon.

"There has been no declaration of any adversarial threat. Right now we think it's still a diplomatic issue, between Guyana and Venezuela."

Roach said Caricom had made a statement calling for peace.

"But it hasn't reached a stage where we should be concerned. If it did, then the trigger for that would be Guyana themselves attempting to move their citizens who live in that area. That has not happened."

It was still at a stage for peaceful diplomacy, he said.

"We are seeing in the news that Brazil has put some troops on the border but we think there is still a lot of room for diplomacy."

Pires said his company, founded by his father, had been doing business in Guyana for the past 35 years.

"So we are very much aware of the ongoing issues in Guyana and we are very much monitoring it on a regular basis. We are also monitoring it for our employees.

"We do have a location out in the west, a retail store with staff in it, as we service the whole Guyana agriculture sector. We are in the Essequibo area for all the time."

Newsday asked if referendum tensions had affected the business climate for TT firms operating in Guyana.

Pires replied yes. "If you are sending a truck