The EU/Guyana Chamber of Commerce was launched last evening with businessman, Gregory Dean as its head.
Launching of the chamber of commerce at the residence of the EU Ambas-sador to Guyana, René van Nes coincided with the arrival here of a team of European businessmen under the EU Global Gateway Programme.
Present at the event was the Minister of Public Infrastructure, Juan Edghill who said that there is now a need for the private sector to work along with the Government to ensure that the policies of the country are followed.
“We are not closed to any group; we are not pro or anti to any group. Guyana is open for business and whoever wants to come to Guyana on fair terms and conditions, to satisfy what we are seeking to do and to help us in this grand project that President (Irfaan) Ali is so ably leading in terms of modernizing and transforming Guyana, you are welcome on board. We have clear policy directions about the areas we are focusing on and which we are prepared to provide leadership and we want to have great participation….food security, climate security and energy security are the pillars in which we are moving forward. We are directed by our Low Carbon Development Strategy (LCDS) and our LCDS is not just a development strategy but also an economic strategy”, he said.
Edghill added that he hopes the development conversation is fruitful but not lengthy since Guyana’s economy is one that is desired by many who compete daily.
The European Union mission comprises some 23 companies. (See other story on page 3.)
Dean, who was formerly the Head of Digicel here, was announced as the first President of the EU/ Guyana Chamber of Commerce. Similar bodies have been set up in recent years by the US, Canada and the UK and others are planned.
At the event last night, van Nes explained that the EU trade mission stands as part of the EU Global Gateway Programme, which promotes sustainable investment in areas like renewable energy, agriculture, digitalization, transport, manufacturing, health and pharmaceuticals among others.
“Guyana has incredible growth potential and yes it is based on oil and gas, but what makes Guyana special and I hope that it’s also clear is that they (investing companies) realize that oil and gas revenues are only there for a short period of time. So, the resource in oil and gas has to be invested in order for sectors to sustain economic growth and ensure that you have employment for people when oil and gas resources dry up and hopefully, the world will switch to renewable energy”, he said.
Also speaking at the event was Myriam Ferran, the Deputy Director-General in the Directorate-General for International Partnerships of the EU Commission.
“We organized this mission to show what Global Gateway actually means in reality and this is the European Strategy for sustainable investment and what we see as a need for both is a quality offer. An offer for sustainability investment quality in all the things we do to fight to combat the global challenges, the one with climate change. One we must encourage investment; in energy, energy transport, digital transition and all the connectivity needs in human capital development support and transition. So, we are also focusing on education, health and research activities”, she said.
These strategies, according to the Director are based on European and international strategies which focus on the respect for democratic rights, freedom of expression, etc.
“First and foremost, the strategy is devised to work with the Government by supporting the development policy. So, we are working hand in hand in partnership with the Governments and we do this not only with the public funding …but this funding that we are managing is the public funding of the European budget …but when you look at the figure however big it might look and you compare this with the investment gap, which is identified that is needed to meet the sustainable development goals, we are very small”, she said.
As such, Ferran said that the EU has been working first to get all the players, which are the countries and financial institutes, together then push to involve the private sector.
Ferran said that while the EU will bring companies to Guyana, the EU will also facilitate companies to add value to the EU market also.
