– Jagdeo says in response to Opposition labelling Energy Conference and Supply Chain Expo as ‘pageantry’
– maintains event gave investors assurance of safe investment climate

GUYANA’S Energy Conference and Supply Chain Expo was more than just “pageantry”. It was actually a platform for international investors to be well-informed about the security of their capital investments within Guyana’s territory, according to People’s Progressive Party (PPP) General Secretary, Bharrat Jagdeo.

He provided this perspective while responding to statements made by Opposition about the event.

During a press conference on Thursday, the PPP General Secretary squashed the narratives being peddled in the public domain and provided insight into the impact that the conference had on South America’s rising powerhouse.

“I actually think that he [Norton] should really review the press conferences that he occasionally would have because those conferences are perfect examples of pageantry and grand standing… No attention to details, no vision, no substance…just griping about everything that is positive in this country,” Jagdeo said in response to Opposition Leader, Aubrey Norton’s, criticisms.

Adding to this, he remarked: “Norton would not understand this because he’s never accustomed to playing in the big league… and so he only thinks about pageantry, etc.”

While remarking that investors were impressed with the array of diverse interests that lie within the confines of Guyana’s 83,000 square miles, Jagdeo said that most persons and even media have left with knowledge of the Guyana-Venezuela controversy, as this topic was frequently raised.

While noting that these individuals have seen ExxonMobil “pressing ahead” with its investments and expanding its footprint, the PPP General Secretary firmly remarked: “Every person they’ve spoken with is now positive on Guyana.”

For context, in 2018, Guyana took a decisive step by approaching the International Court of Justice (ICJ) seeking affirmation of the award’s legitimacy.

Venezuela, taking a defiant stance, initially claimed that the ICJ lacked jurisdiction, a contention flatly rejected by the World Court in a crucial ruling in December 2020. The door was thus opened for the ICJ to delve into the substantive case’s merits.

Recent developments have heightened the geopolitical situation, as Venezuela, through its National Electoral Council, unveiled plans for a “Consultative Referendum” on December 3.

Guyana contends that this move is a thinly veiled attempt by Venezuela to gather support for abandoning the ongoing ICJ proceedings, and unilaterally assert control over the Essequibo region.

Rodriguez has expressed her nation’s complete disregard for the ICJ’s authority in addressing the border controversy.

The substantive case which highlights the historical context and the 1899 Arbitral Award, remains before the World Court.

Moreover, the PPP General Secretary stated: “I was extremely pleased because when these [potential investors] read some of the international reports, they get a different impression because some of the reports start off by saying, ‘oh, Venezuela has resurrected a longstanding claim for two-thirds of Guyana.”

Although the conference was more than just speeches, the PPP General Secretary did not shy away from the fact that the presentations placed the nation on a high pedestal, because, according to him: “We have things to be proud of.”

Furthermore, he disclosed that even Guyanese, during the conference, were able to explore partnerships.
“Now this conference is privately organised and it grows from strength to strength every year and a large number of people pay a considerable sum of money to come and participate and they do so because they think that the information shared at these conferences is very valuable to them in their business planning processes and also they represent many opportunities for them to invest in this country,” he noted.

Since Guyana’s oil and gas industry emerged over the past few years, there has been a notable increase in the frequency of conferences and seminars being held in the country—a change which has been a catalyst for an increased influx of potential investors.

This year’s energy conference and expo, which was held for the third consecutive year, featured some 200 exhibitors and hundreds of participants from 21 countries, including foreign Heads of State.

While this conference is not the first of its kind in the country, the magnitude of these events has been increasing over the years.

These numbers are not just reflective of an influx in travellers to the country with economic benefits for the tourism sector; they speak to a marked increase in investor interest in the nation.