• notes investors need confidence in the country’s ability to resolve commercial disputes

ATTORNEY General and Minister of Legal Affairs, Anil Nandlall, has highlighted the judiciary’s growing importance to Guyana’s investment and economic expansion, noting that investors require confidence in the country’s ability to resolve commercial disputes through an independent and competent justice system.

Nandlall, during his “Issues in the News” programme, stated that the rapid expansion of Guyana’s economy and commercial sector has placed greater importance on the judiciary, particularly as billions of dollars in investments enter the country.

“With the rapid expansion of our economy, with the astronomical growth of our commercial sector, our judiciary assumes even greater importance,” Nandlall said.

He explained that the judiciary provides the mechanism through which disputes involving businesses, individuals and the state are resolved, making its effectiveness an important consideration for investors.

“With the billions and billions of dollars of investments that are pouring into Guyana, with the new vista of economic and commercial activities that we are embarking upon, the judiciary is the institution to settle disputes between and among businesses, between and among individuals, and between and among businesses and individuals and the state,” he said.

Nandlall said there is a direct connection between the effectiveness of the judiciary and investor confidence, arguing that businesses would be reluctant to commit significant capital to a jurisdiction where disputes cannot be resolved independently and competently.

“The statistics clearly show that if the judiciary is not independent and not competent, investors will be reluctant to invest in that country,” he said.

He noted that many major commercial contracts now include arbitration clauses, allowing disputes to be resolved outside the traditional litigation process. However, he stressed that arbitration does not eliminate the need for an effective court system.

“Although companies that come to Guyana may put arbitration clauses in their contracts, they depend, and they know that they depend upon an effective, impartial judiciary to get the rewards of any judgement,” Nandlall said.

He explained that courts may be required to intervene during arbitration proceedings, including where parties require injunctions or other remedies that an arbitral tribunal may not be able to provide.

Additionally, once an arbitration concludes, the resulting award must be registered as a judgement before it can be enforced, further underscoring the judiciary’s role in the commercial dispute-resolution process.

Nandlall pointed to several major arbitrations that are expected to take place in Guyana, including a dispute involving MARAD and the dredging of the Demerara River, which he said is valued at millions of US dollars.

He also referred to the Vamed Hospital matter, which he said involves an ICC arbitration valued at hundreds of millions of euros and is expected to take place in Guyana under the terms of the relevant contracts.

Against this backdrop, Nandlall said ensuring that the judiciary remains both independent and competent is essential to Guyana’s continued development.

“It is so crucial that we ensure that the judiciary remains independent and remains competent, because it is an indispensable factor in the development equation of this country,” he said.