Why don't those oligarchs buy out sugar if they think that the future is so assured. Governments have no business running ventures in the productive sectors. That's the role of the private sector. Gov'ts can offer subsidies or various incentives if it makes economic sense.
Guysuco is in this state because of the PPP. So why do they think that continued ownership by the public sector makes sense. Guymine was privatized and so should sugar be. Guyana's production costs are way above world prices and with the EU subsidy over and guaranteed access to those markets soon to be why keep sugar?
The Germans and the others see this as a UK issue and now with the UK leaving the EU there will be no advocates for Guyana. Brexit raises issues for the UK so they have scant time for Guyana and other former colonies.
The EU was quite clear 15 years ago that guarantees for ACP sugar couldn't continue indefinitely. Trinidad and St Kitts pulled the plug and used EU $$$ to transition to other economic activities and to compensate workers for the loss of jobs. I understand that HUNDREDS of Guyanese were compensated by the St K gov't as they formed the bulk of the cane cutters on that island. The locals had already seen the writing on the wall and had begun to leave the industry, if they could.
I suggest that the oligarchs make themselves useful and buy Guysuco if they think that sugar has a future in Guyana. Otherwise let iyt just be phased out gradually, producing enough for the local and regional sugar and molasses markets.