— President Ali extends open invitation to investors at Dubai forum

AS Guyana is being prepared for its fastest and most explosive economic and social transformation, cognisant that investment is crucial for converting the nation’s rich abundant resources into prosperity for its people, President Dr. Irfaan Ali has extended an open invitation to investors to participate in the country’s developmental trajectory.

The Head of State spared no effort at marketing Guyana for its diverse economy and vast investment opportunities, by offering a glimpse of some of the country’s main features during his address at EXPO 2020 Dubai, in the United Arab Emirates (UAE) on Tuesday, Guyana National Day.

“Guyana is set to become a leading oil-and- gas producer, an energy powerhouse, a bastion of food security, a prime destination for sustainable tourism, and a regional information communications technology hub,” President Ali told the Guyana National Day gathering.

However, he highlighted that in order to convert the country’s abundant resources into wealth, and further to translate that wealth into human prosperity, investment is needed, and the government is keen on attracting investments across all sectors to drive the country’s transformative agenda.

“I invite you all to come and do business in my country. We welcome you; we have an open economy, and with investor-friendly policies in place, including attractive incentive regimes, laws which protect the right to property, and which also allows freedom to repatriate profits,” President Ali said.

WIN-WIN
The President emphasised that Guyana is a win-win destination for investors, as the country is on an irreversible growth trajectory, with a rapidly expanding economy, and a wealth of sectors with the capacity and potential for expansion, and new resources to support it all.

“If we speak about world food production, environmental services, world-class eco-tourism, freshwater potential, mining opportunities, research and development, human transformation, health and educational services, I assure you Guyana will be an important part of that conversation,” President Ali stressed.

Speaking to his South American nation’s strategic location, President Ali highlighted that the Takutu River Bridge, which links Guyana to its southern neighbour, Brazil, provides a gateway to the large markets of the continent, and the new bridge to link Guyana to its eastern neighbour, Suriname, will further increase the country’s trade and human contact.

In addition to reminding his audience that Guyana struck oil in 2015, which enabled it to become the world’s fastest-growing economy in 2020, with a 43.5 per cent Gross Domestic Product (GDP) growth that year, the President also boasted of the country’s commitment to the preservation and protection of the environment.

He disclosed that with more than 80 per cent of Guyana covered with forest, and the country being a net carbon-sink, the country’s developmental trajectory will be aligned along a low-carbon pathway, as it also aims to become active in carbon- trading markets.

“We will continue to pursue oil production offshore, but onshore, we will definitely intensify the de-carbonisation of the economy. We will do so principally on an expanded Low-Carbon Development Strategy (LCDS), which will emphasise low levels of deforestation, biodiversity protection, freshwater management, the sustainable development of the marine economy and conservation,” President Ali said.

He described Guyana, a major food producer, as blessed with vast tracts of arable land, abundant sources of freshwater supplies, and a highly-skilled and experienced agricultural workforce, with agriculture being a pillar of the country’s economy, in addition to the forestry and fisheries sectors.

He took pride in disclosing that diversity is one of the country’s greatest assets, as various peoples coexist in harmony in a multicultural society; one which he intends to make a model of unity and diversity through his ‘One Guyana’ initiative.

BLESSED ABUNDANTLY
“Nature has blessed us abundantly with serene beaches, sprawling savannahs, pristine rainforests, diverse flora and fauna, spectacular waterfalls, and a vast network of rivers and other waterways,” he said, offering a glimpse of what Guyana, the most exciting destination for tourists which was ranked as best in sustainable tourism in 2019, has to offer.

With Guyana depending, considerably, on international trade, and sharing strong ties with foreign counterparts, President Ali assured investors of agreements which facilitate trade between Guyana and all corners of the globe, such as the Caribbean Basin Recovery Act; the Caribbean-Canadian Trade Agreement; the CARIFORUM-European Union Economic Partnership Agreement; and the Guyana-Brazil Partial-Scope Agreement.

The Head of State highlighted that his government’s vision foresees a prosperous Guyana, where citizens can enjoy high standards of living, including a 21st Century education, and world-class health services in a healthy, safe, and secure environment, and can pave the way for the next generation.

President Ali expressed delight at being able to participate in EXPO 2020 Dubai, as it provides Guyana with the opportunity to showcase its products and services, and to underline its investment opportunities in infrastructure, housing, energy, Information and Communications Technology (ICT), agriculture, manufacturing, and oil and gas among other sectors.

“Guyana needs to convert its abundant resources. We need you; we welcome you, and we urge you to remember the name Guyana, and to keep the name Guyana in your plans for growth and development, both in country and by businesses and sectors,” President Ali said.