President Irfaan Ali yesterday said that the inaugural CARICOM and Saudi Arabia Summit was a success and that Riyadh and several other Middle East countries are onboard in relation to supporting Guyana in areas such as infrastructure, food security and agriculture.
The President also announced that the government is hoping to construct another cricket stadium, this time, in Region Three.
During a press conference at the Arthur Chung Conference Centre, the Head of State updated the media on the CARICOM and Saudi Arabia Summit in Riyadh on Thursday where stakeholders agreed to work together on food and energy security.
The President said that Saudi Arabia underscored its commitment to support Guyana in the infrastructural development. However there was no announcement of any new initiative from the summit and Riyadh appeared to have gained more by picking up endorsements and support for some of its programmes.
The President reminded that the Saudi Fund for Development (SFD) had previously signed two development loan agreements worth US$150 million with the Government of Guyana to fund the “Infrastructural Development Works for the Housing Sector Project”, and the “Construction of Wismar Bridge Project”.
The first loan agreement, worth US$100 million, for the Infrastructural Development Works for the Housing Sector Project, aims to respond to the growing population demands by developing the infrastructure to provide about 2,500 housing units across three different regions in Guyana.
Additionally, the project includes paving the main and secondary roads, establishing water, sewerage and electricity networks, digging wells for each of the project areas, and the construction of social facilities serving multiple benefits. It will not only address the current housing shortage and improve living conditions, but also stimulate the local economy through direct and indirect job opportunities in the housing sectors.
The second loan agreement, worth US$50 million, for the Construction of Wismar Bridge Project, aims to build a four-lane bridge parallel to the existing Mackenzie-Wismar Bridge, to improve road network connectivity and the flow of transportation, relieving traffic jams, and enhancing road safety.
The bridge will also link to the existing road network on both sides of the Demerara River, ensuring easier access to nearby public facilities such as Mackenzie Hospital, and other government facilities. While positively impacting transportation, the bridge is also expected to contribute towards social and economic development and creating employment opportunities in Guyana.
Political scientists
Ali told the media that there were many dissuasions from political scientists in relation to government’s engagement with Middle East states like Saudi Arabia to assist in Guyana’s transformative agenda.
However, the President said that he ignored these criticisms and dissuasions and is optimistic of great results following these engagements.
‘I don’t entertain negativity; my focus is on results and this is the time for Guyana and Caricom to find non-traditional partners in pursuit of its development goals” the President said.
‘I am also very pleased that the Kingdom of Saudi Arabia has committed to creating a special window and giving preferences to those in the region, who want to perform the Hajj (an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims)”, Ali announced.
The President said Guyana and Saudi Arabia agreed to bolster relations at the multilateral and bilateral levels, and in global fora by pursuing opportunities for “sustainable development, peace, security, stability, tourism infrastructure development as well as creating business opportunities in the ICT/Global Digital Services sector.
There were also engagements on boosting trade and investment flows by creating mutually beneficial opportunities for joint investments, with special emphasis on sustainable infrastructure, renewables, trade, tourism, logistics, and connectivity”.
Saudi Arabia and other Middle East counterparts are also in support of Guyana’s energy sector, the Head of State disclosed.
Ali also informed of the government’s plan of investing in another hydroponics facility with support from Saudi Arabia which will aid in boosting the country’s food production strategy.
“As you all know that we are in the promotion of food production and we are looking at investing in a (US)$25 million Hydroponics facility with assistance of Saudi Arabia and yes we summited all the studies and I am confident that before the end of this year we can see this project being implemented”, the President said.
Ali also welcomed Saudi Arabia’s Middle East Green Initiative (MGI), and its announcement to establish and host a dedicated MGI Secretariat and allocate US$2.5 billion to support MGI projects and governance.
He also supported the announcement by Saudi Arabia about the establishment of an international water organization based in Riyadh, calling for further decisive global action.
According to the statement issued after the summit, the two sides agreed to join efforts to promote peace, security, stability and prosperity, “through mutual respect and cooperation between countries and regions, to achieve sustainable development and progress and maintain the rules-based international order based on adherence to international law and the UN Charter”.
Adherence to international and the UN Charter could be taken as a plus for Guyana in its standoff with Venezuela over the border controversy between the two countries.
The meeting also agreed to support Saudi Arabia’s bid to host Expo 2030 in Riyadh. It also welcomed Saudi Arabia’s Middle East Green Initiative, and its announcement to establish and host a dedicated MGI Secretariat and allocate US$2.5 billion to support MGI projects and governance. It also supported the announcement by Saudi Arabia about the establishment of an international water organization based in Riyadh, calling for further decisive global action.
Stressing the important role that CARICOM and the Saudi Arabia can play in hosting major sporting events, the Summit endorsed the candidacy of Saudi Arabia to host the 2034 FIFA World Cup.
Cooperation in the development of sustainable and circular agriculture and in the promotion of sustainable food production, sustainable use and management of water resources and promote trade and investment opportunities in food and agri-based industries was also agreed.
“Build on the two regions’ cultural diversity, openness, and rich history to stress that tolerance and peaceful coexistence are among the most important values and principles for friendly relations between nations and cultures”, was also agreed.
Promoting the cultural and creative industries of CARICOM and Saudi Arabia through cultural festivals, art exhibitions, film festivals, workshops, book fairs and other events was also agreed along with the encouragement of the exchange of best practices and capacity building in the areas of museology, protection, conservation, and restoration of cultural and historical heritage.
Promotion of cooperation in the area of tourism, including heritage, cruise, sustainable and ecotourism, medical and wellness, tourism was also greenlighted.
The meeting stressed the importance and urgency of promoting joint action towards mitigating climate change and adapting to its impacts, protecting the environment and developing low carbon and clean energy technologies.
The two sides agreed to hold the Second Saudi Arabia-CARICOM Summit in 2026.
