AS Guyana repositions itself as a major development hub in the region, the need to build capacity to take on the complex task of accelerated growth and sustainable development becomes all the more necessary. Now regarded as the fastest-growing economy in the region, the pressure is mounting for an enabling development framework which will allow for the full optimisation of our physical, infrastructural and human resources to facilitate the growth momentum.
This observation was made by President, Dr Mohamed Irfaan Ali during the recent commissioning of a project on the West Bank of Demerara, site for the oil and gas company at Wales. From a highly depressed community following the closure of the Wales Sugar Factory by the then APNU+AFC Coalition Government, the community is now poised to become a major development hub with the establishment of several new projects which will impact positively in terms of job creation and injecting new life into the communities.
This particular investment, in the view of the President, should not be seen as a singular piece of investment but has linkages with other sectors, especially in the area of transportation logistics.
It adds new capacity to our economy by diversifying the breadth of service that we can produce right here in Guyana. Besides, it will also create several jobs from an operational and servicing perspective.
Many of the new pipeline projects will impact in a big way on the economic and social life of residents of the region. The construction of a new four-lane bridge over the Demerara River will create scores of new jobs during the construction phase. In addition, it will tremendously ease traffic congestion when completed, especially during peak hours, saving on time and productivity hours.
Other major construction works in the pipeline include a new four-lane road from Vreed-en-hoop to Parika and a new four-lane road from Crane to the Harbour Bridge entrance road. These are significant developments in the region, which will have a big impact on the lives and well-being of citizens.
The investment climate in Guyana is getting better by the day. But while the government has an open-door policy towards investment, it does not follow that investors are free to do business in a way that is not in conformity with the laws of Guyana or in violation of ethical and technical standards.
This point was emphasised by President Ali during the commissioning of the ‘Malavi’ GAICO’s new addition to their dredge fleet at Nismes, West Bank Demerara. According to President Ali, the focus should not only be placed on building international capacity, but also on satisfying local demand. This, he said, requires certification, standards, an understanding of the rules and doing things within the framework of international convention and rules. These, he said, are core principles which should serve as a guide to those looking to build international companies.
The President could not have been more direct when he said that “The days of doing an operation and trying to avoid taxes and avoiding declarations are far, far, far over. If you really want to build an international company, these are the things you should shy away from. These are not conversations we have to shy away from.”
Investments, both local and foreign, are not ends by themselves. Rather, it is the means to a much greater end, namely, to create a better Guyana, one in which Guyanese can all benefit by way of job creation and ultimately through higher levels of economic prosperity. It is precisely for this reason that the local content legislation was put in place by the PPP/C administration to ensure that Guyanese benefit in full measure from the exploitation of our natural and other resources.
Guyanese must not only be the beneficiaries of our natural resources, but they must also be treated with respect and dignity. This is why our labour laws have been strengthened with labour offices in all the 10 regions of Guyana.
President Ali must be commended for stressing the importance of standards in Guyana. The fact is that we are living in an increasingly competitive world environment where there is no place for mediocrity. As the President correctly puts it, “Whatever we build now must be to international standard because our ultimate goal must be to play on the international stage and an international market.”
