RECOGNISING the potential of Guyana’s reputation as a “major player” in global markets, local businesses must harness the country’s brand for economic advancement and help shape the national trajectory in the years to come.

President Dr. Irfaan Ali made this call while speaking at this year’s Local Content Summit, which was held on Wednesday at the Pegasus Suites and Corporate Centre in Kingston, Georgetown.
Addressing the stakeholders, President Ali underscored the importance of seizing the opportunity to position Guyana favourably in international markets.

With an impressive average economic growth rate of 10 per cent over the past three years, Guyana stands out as one of the fastest-growing economies globally. The heart of Guyana’s economic success lies in its strategic management of its burgeoning oil industry.

As such, President Ali stressed the need to capitalise on investments to develop competencies and scale, thereby creating a ripple effect that benefits local businesses.
“We are now having this opportunity to position ourselves in that market, utilising this investment we are making to build the competency and the scale, how do we now create that knock-on effect, where we work on building companies that can now position itself into these opportunities? You have a country that gives you an advantage now because the country is known. We are known to be a major player.

“The country automatically is helping you to create a network. The country automatically gives your company a brand position. You have to love Guyana more and more every day because it’s giving all of you a new brand position,” President Ali stated.
Highlighting Guyana’s growing prominence on the global stage, President Ali emphasised the inherent advantages that come with the country’s reputation.
However, he cautioned against undermining the brand’s value and called for concerted efforts to strengthen and promote it.

“Erase all the noise that we have here locally. This country, this brand ‘Guyana’ is helping to position all of you differently. All of us differently even as leaders. We have to help the brand also. The brand can’t do all the work for us.
“We have to help the brand, just as the brand is opening up the opportunity for us. Guyana is our brand. So, if you think knocking on the brand every day is in your interests, then God help all of us. Because this is the brand that would have to secure us. This is a brand that would have to position us,” he warned.

Touching upon specific sectors, President Ali outlined his vision for healthcare and education, citing examples of world-class services and collaborations with prestigious institutions like MIT and the University of the West Indies (UWI).
“You want to create world-class healthcare? President Ali questioned before urging stakeholders to seize the opportunity to develop sustainable healthcare ventures.
“Start selling the brand that’s world-class healthcare. Start celebrating all the accomplishments we are having at Georgetown Public Hospital – second to none at a rapid pace. Some of the finest surgeries, and finest doctors we have. Start celebrating with each other. Celebrate the brand. Celebrate the accomplishment of the brand.

“And you will create a world-class health service that will bring value, that will create value, that will expand value for us here. That is what we are doing from the level of esteem. We are going for the best,” he said.

The establishment of a medical training facility in Guyana has been on the cards for the government since an agreement was signed for the construction of a new, modern level-five hospital at New Amsterdam.

In January, the sod was turned for the US$161 million facility in New Amsterdam which is set to be equipped with all modern facilities to conduct transplants and other major surgeries.
Once completed, the new facility will be linked to the Georgetown Public Hospital Corporation which will be connected to Mount Sinai Hospital in New York and other major hospitals around the world in telemedicine.

The Head of State explained that this establishment demonstrates his government’s commitment to excellence in building Guyana’s healthcare brand and even utilising it to become a “home for nursing.”

HUGE POTENTIONAL
Furthermore, President Ali highlighted Guyana’s potential as a leading destination for ecotourism, highlighting the country’s natural beauty and strategic location.
“Why can’t we work together to build a world-class ecotourism facility here?” President Ali questioned, urging stakeholders to seize the opportunity to develop sustainable tourism ventures.
Since the country is known for its rich biodiversity and natural attractions, making it an ideal destination for ecotourism, the President said the time is ripe since all eyes are on Guyana.

The South American nation has been recognised for its efforts in promoting sustainable ecotourism, which balances economic development and environmental preservation.
“Somebody is going to come and open world-class ecotourism facility right in the rainforest with VIP tents at US$5000 per night. And then you’ll say if I did know. The knock-on effect is important.

“Our brand has given us the best natural environment to sell not the number two, the number one eco-tourism facility in the world. We can sell six minutes from the capital. A world-class eco-tourism facility,” he said.
As Guyana continues its journey towards becoming a global player, President Ali called on all local businesses to harness the power of the Guyana brand to unlock economic growth and prosperity.