A TRADE delegation of some Korean and United States Officials on Wednesday met with the Government and Private sector representatives, where they expressed their interest in the development of the new Silica City.

The engagement was held at the Arthur Chung Conference Centre (ACCC), Greater Georgetown, where President Dr. Irfaan Ali and several government ministers listened to presentations made by various businesses on their intention to invest in Guyana.

As these presentations were being made, President Ali urged those local private sector representatives present to take advantage of the opportunity, and partner or work along with the visiting representatives of companies.

He noted that several of the companies have come prepared with their proposals, and already have financing ready for the projects that they are interested in carrying out in Guyana.

Delivering remarks at the event was Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh, who said that the government is pleased to have a number of the largest Korean companies showing an interest in Guyana.

He said that he is aware that some of these companies have come to Guyana with specific proposals for investments.

“You’ve come to Guyana at an incredibly exciting time for our country, economically. As you know, Guyana is now one of the fastest growing economies in the world,” he told the visitors, while noting Guyana’s immense economic growth potential.

Highlighting that growth can be seen in both the oil and non-oil sectors, due to the direct policy measures adopted by the government, Dr. Singh said that an investment in Guyana represents an investment in the market that potentially leads to not just the entire Caribbean, but all of northern Brazil as well.

Meanwhile, it was revealed that there are two aspects to the delegation’s visit here, these being investments on the public side as well as possible private investments.

On the public side, the Korean delegation showed significant interest in developing Silica City, President Ali’s vision of a new city along the Soesdyke-Linden Highway.

One company, Yeachon Architects and Urban Planners, said it could develop Silica City in six phases, with a January 2030 completion date.

The new city, which will be located some 35km from the capital, Georgetown, is set to be a compact ‘smart’ city with transport and infrastructure, alternative energy, and ‘smart’ system facilities.

While some sections of the delegation made presentations on how they can play a part in the realisation of Silica City by developing renewable energy, housing and more, others presented their intended investments in other sectors of the economy.

Some of the notable presentations included bringing stem-cell treatment to Guyana through a partnership, along with the increased use of technology in the agriculture sector, and improvements in hydroponics.

This agriculture project will see the transfer of knowledge and use of technology from the Korean Government and the United States. As such, President Ali committed to having the Guyana School of Agriculture (GSA) sign an agreement in this regard.

As presentations continued, the Head of State continuously urged those from the private sector that were present to take advantage of the opportunities present, noting that the government will continue opening doors for private sector investments in various areas.