-GTT CEO urges foreign investors at GIPEX

FOREIGN Investors from various parts of the world were encouraged to “get onboard with development,” by Chief Executive Officer (CEO) of the Guyana Telephone and Telegraph Company (GTT), Justin Nedd.

Nedd, who was tasked with encouraging foreigners to invest in Guyana, said it was time for more persons to get onboard with the development that is going on in Guyana and make the country better.

“Try to leave Guyana in a better place,” said Nedd during his presentation to a packed room of investors, both foreign and local, during the second day of the Guyana International Petroleum Business Summit and Exhibition (GIPEX), at the Marriott Hotel, on Thursday.
He encouraged investors to assess the local business environment and analyse the levels of development over the years.

Nedd used GTT as an example of how Guyana has grown over the years. He said in 1991, GTT had just 10,000 copper lines with no mobile or internet service.
Not only has there been a 500 per cent increase in internet traffic, but, according to Nedd, GTT now has 150,000 copper cables, more than 250,000 mobile subscribers and 70,000 broadband connections.

Nedd said in order to achieve those results, investors would have to hire for attitude, train and help foster talent, show heart and embrace communities.
The telecommunications company has pumped USD$60,000 into GIPEX, making it a lead sponsor. In 2018, the company supported the GIPEX conference with a USD$20,500 sponsorship investment.

“GTT has invested in Guyana for almost three decades; despite challenges we have made an impact as one of the largest foreign direct investment organizations in the country and have adapted with every change,” Nedd reminded the attendees. The CEO explained that the company hopes to strengthen its connections with companies in the oil and gas sector and forge new relations, providing the assurance that Guyana’s telecoms sector can meet international demand.

GIPEX is aimed at facilitating networking and providing investment opportunities for companies across all sectors associated with the petroleum industry in Guyana. In 2018 the summit was deemed a success as it attracted global participation from over 600 delegates and 200 international and national oil and gas companies.