Guyana’s future lies beyond oil and gas, according to Chief Executive Officer of the Guyana Office for Investment (GO-Invest) Peter Ramsaroop, who says there are other significant opportunities for development.
“As you listen to some of the announcements this week that were made in terms of what our modernization projects are, again, it’s not just about the oil and gas. Our outlook in Guyana is using oil and gas is an enabling factor. But our future is a lot more than that,” Ramsaroop told attendees at the international oil and gas conference last week.
He said that the government is building global partnerships in the advancement of its development while increasing competitiveness. He noted that the country is looking for competitiveness and openness in the business environment while adding that there are significant opportunities to invest.
Outlining the investment process, Ramsaroop said that the government is continuously improving the way business is conducted and explained that a single processing window is being explored to accommodate all the needs of businesses desirous of investing in the country.
Ramsaroop told potential investors that Guyana is moving toward the reduction of energy costs with the construction of more renewable energy projects, while also bridging the gaps between counties in an effort to create more opportunities. He told them that the time is now to invest in Guyana because when the benefits of all the developmental projects are being realised then it might be too late.
“You have to start now looking at what you will do with cheaper energy. How would you compete? How do we expand…imagine a deepwater harbour connected to Brazil. You imagine 30,000 18 wheelers passing through [because in]Brazil it takes 72 hours almost from northern Brazil [for persons]to take their goods to water [for export]. Turn that container around through Guyana and is less than 24 hours.
“This is the time you’re going to see it happen. Guyana is on the move. We are accelerating development and we are excited about it. We treat every investor fairly, honestly accountable. There’s no underhand work. Everything we do is transparent, is on the books, you get a chance to be part of it,” Ramsaroop told the conference.
Speaking about the plethora of opportunities that exist in Guyana’s agriculture sector, Ramsaroop highlighted President Irfaan Ali’s target of supplying at least 25% of CARICOM food bill and called on investors to take heed.
“Guyana survived over the decades on agriculture, rice, sugar, other industries and bauxite and cash crops and outlying areas. What are we going to do with the oil money, we are going to enable these industries we’re going to modernise our known industries to make it better and efficient…it is not just about growing more food but it’s the logistics, the supply chain, the air cargo, the ship cargo…,” he said.
He also said that there is a young Guyanese workforce looking for opportunities in the ICT sector while inviting persons to invest in providing those opportunities. He alluded to the establishment of call centres across the country.
Ramsaroop also told the conference that Guyana’s tourism sector is open for business and investment. He pledged the government’s support for lucrative investment regimes as well as the development of infrastructure in tourism.
