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Investment future looks good for Guyana, says president


Investment future looks good for Guyana, says president

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GEORGETOWN – President David Granger yesterday said Guyana’s future as an investment capital is a promising one and foreign investors are keen on the country’s investment potential in light of Government’s efforts to create a conducive environment for business and commerce.

The President made these comments during a meeting with Caribbean Council’s Managing Director, Chris Bennett; Marketing and Events Coordinator, Emily Soar one day ahead of Guyana’s attendance at an Investment Seminar on Guyana which will be hosted by the Council at the Army and Navy Club, London.

The seminar will be attended by several major UK based stakeholders including Tullow Oil plc, Repsol S.A, BK Atlantic as well as other agencies interested in investing in Guyana and the Caribbean in the areas of port infrastructure and other sectors.

Guyana’s attendance at this seminar is therefore critical as it augurs well for the country’s investment agenda.

The event also comes at a time when renewed interest in investment by foreign stakeholders is growing due to Guyana’s changing business environment and President Granger, during a brief interview following the meeting, said investors would have therefore taken note of this. 

“There is definitely deeper interest [in investment]. Investors are not foolish people, they want to make a profit and they are very careful with their investments and they wanted to see that we have made changes to the conditions and situations that existed before.

“I think now they are seeing greater transparency, they are seeing a respect for institutions, they are seeing the passage of legislations for anti-money laundering, they are seeing the arrest of former government servants who have been accused of committing offences.

“I think they feel that Guyana is a safer, cleaner destination for their investment and when people plan to come into a country they would want to do reconnaissance, they would want to come and do feasibility studies and I think this is what has taken place now,” the President said.

It is against this backdrop that Minister of Foreign Affairs Carl Greenidge, during the interview, said that today’s seminar will serve as a means of creating new investment opportunities while strengthening existing relationships with the United Kingdom.

He said the event would also see attendance from investors, British policy makers, members of the European Commission, Members of the European Union as well as private sector agencies.

“All of those are important in terms of creating a helpful climate for the type of investment that Guyana needs. So those people will be present and we will try to whet their appetite as it were and to work with them. Some are already undertaking investments in Guyana, some have perhaps an interest which we need to capitalise on and that is the nature and the focus. In the case of the policy makers, for example, in the UK, the President, I believe, will be continuing the types of exchanges that he would have started with them before,” the Minister said.

Meanwhile, President Granger said this visit was a reengagement with the United Kingdom which is meant to strengthen ties and was not necessarily triggered by Brexit.  (GINA)