–        a testament to Guyana’s local-content policy and strategic partnerships
–        Minister Singh says

HAILED as a testament to the benefits of Guyana’s local-content policy, a business consortium, Qualco Guyana was on Tuesday officially launched.
The company, which is a partnership between U.S.-based Quality Companies and Guyanese companies Latitude Guyana and Nexus Machinery, was established in 2019 and specialises in advanced electrical and mechanical contracting services that support both onshore and offshore operations in the oil and gas industry.

Delivering feature remarks at the launch, Senior Minister within the Office of the President with responsibility for Finance and the Public Service, Dr Ashni Singh, stated that the establishment of such a joint venture is a testament to the enacted Local Content Act here.
Dr Singh stated that the launching of partnerships such as this should not be taken for granted, as they don’t happen magically or automatically.

The minister stated that it took lots of work and conscious and deliberate effort to get Guyana to a point where credible large and medium-scale businesses see Guyana as a place to do business through the vehicle of strategic partnerships with local companies.
“I was really pleased to hear the emphasis that you gave to the role of the Local Content Act in realising outcomes such as this,” he said, pointing to the United States Ambassador to Guyana, Nicole Theriot who was present.
It was against this backdrop that Dr Singh remarked that the establishment of that local-content framework has created more than one and a half billion U.S. dollars’ worth of business opportunities for Guyanese companies.
To this end, the finance minister remarked that he wished to see more American companies doing business in Guyana in this way, through strategic partnerships with local companies.

Further to this, he added that the launch also serves as a moment for Guyanese companies to consider carefully the direction in which Guyana is going and how they can position themselves to take advantage of these opportunities.
Dr Singh went on to add that the partnership also serves as a demonstration of the friendship between the United States of America and Guyana.
Meanwhile, United States Ambassador to Guyana Nicole Theriot, during her address, stated, “I am so very proud to see the expanding partnerships between our countries, particularly in the bioenergy sector.”
Since its founding, she noted that Qualco Guyana has made significant strides in Guyana, establishing two state-of-the-art facilities.

To this end, she also added that 95 per cent of Qualco Guyana’s employees are Guyanese, ranging from management all the way to trainees, a testament to the company’s commitment to developing and empowering Guyanese talent.
While she applauded the fact that the company also invests in the training and development of its team, ensuring staff are sent for specialised training in the U.S., the ambassador added, “This is an example of how U.S. companies can play a pivotal role in transferring skills and knowledge to their Guyanese partners and staff, further strengthening the workforce and economy.”

According to the Director of Qualco Guyana, Dr Haimwant Persaud, since its inception in 2019, the company has invested over US$8 million into facilities, equipment, training and community development, among other things.
Though established in 2019, the company’s operational journey began in 2021, which then led to the further expansion of its operation in 2023 to the Friendship site.

The investments made thus far, he said, serve as a clear signal of their long-term commitment to the country, as Qualco is proud to be a company where Guyanese talent drives Guyanese growth.
To this end, Persaud thanked the visionary leadership of President, Dr Irfaan Ali, whom he added is shaping the environment where investment, innovation and enterprises can thrive.

Persaud added, “Though Qualco brings global experience through its U.S. and Guyanese leadership, our soul is firmly rooted in Guyana. We are committed to growing in the country, not just in it. From local hiring and training to using local suppliers and forming local partnerships, we are playing our part in building a resilient, empowered and competitive Guyanese workforce.”