–President Ali says; encourages investors to expand horizons

GUYANA’S evolving economy, driven by diversification and strategic planning, creates opportunities for investments in new areas, President Dr Irfaan Ali has said.

While emphasising that the Government of Guyana remains committed to the diversification of the nation’s economic and investors’ portfolio, the President, during his address to leaders at the VIII Summit of Community of Latin American and Caribbean States (CELAC), said focus is being placed on the traditional sectors but they are also developing new and emerging areas.

“We also would like to encourage more companies to explore investment opportunities in areas such as agri-tech, eco and destination tourism, the construction industry, pharmaceuticals and renewable energy. We are creating an enabling environment, conducive to the generation of trade and investment opportunities,” Dr Ali said.

He also said that the framework for advancing cooperation within CELAC is “highly valued” by Guyana as it provides avenues for “enhanced development and convergence on issues in areas of our collective interest.”

Notably, with all attention focused on Guyana, the emerging powerhouse in South America, former President of Colombia, Iván Duque, said that this is the opportune moment to invest in the country.

As Guyana’s Energy Conference and Supply Chain Expo made its third debut, last month, at the Marriott Hotel, under the theme ‘Fueling Transformation and Modernisation’, Duque’s presentation brought the nation’s lush biodiversity into focus.

He said: “This is time to invest in Guyana, not only in the boom of oil and gas, which is very important, but the environmental boom of zero deforestation, biodiversity credits, energy transition, to sustainable housing, working with indigenous communities, etc.”

With Guyana having over 87 per cent of forest coverage, the former President of Colombia had no trouble grabbing the attention of international and local stakeholders.

“So, what I expect to share with you today is why there is a case for Guyana when it comes to…a nature positive driven growth or development agenda,” Duque said as he analysed why Guyana’s forest conversation plan is an important element to pitch to investors.

Based on his perspective, it is an essential aspect to take into consideration for the purpose of achieving an investment that is both environmentally sound and effective.

“And that takes me to the opportunities that we have in Guyana. The first one is that that concept of zero deforestation is going to be able to open the door to connect long-term investments with the development of a voluntary carbon-credit market,” Duque said while highlighting that Guyana is one of the most biodiverse countries on the planet.

He said that a country like Guyana, which has already stated and achieved almost zero deforestation along with a voluntary carbon-credit market, is also going to be a “promised land for the next chapter of green financing globally”.

While further delving into Guyana’s environmental growth, he shifted his focus towards the Low-Carbon Development Strategy (LCDS) and its pivotal role in the energy transition.

“The promise of having the oil-and-gas boom in Guyana is connected to a development need,” Duque said, adding that the LCDS will usher in cleaner energy that will be at a cheaper cost.

He then went on to say: “…So, the energy transition is a strategic part of the Guyanese development agenda, and the condition for these energies are working very well in the regulation that has been adopted.”

The former Colombian President, while urging investors to not let the opportunity fly by, remarked: “Just to put this in investment terms, $1 invested in Guyana is a greener dollar than $1 invested in other parts of the hemisphere when you look at all these complimentary opportunities and ideas that are part of the Low-Carbon Development Strategy.”