Posted on

Investments critical, says Guyana’s President


Investments critical, says Guyana’s President
Guyana President, Irfaan Ali. (FP)

Social Share

Georgetown – President Irfaan Ali says the overall development of the country will be dependent on critical investments that help to provide the necessary pathway to secure a positive future for all Guyanese.

The Head of State was speaking on Saturday as he delivered remarks at the opening ceremony of the Saipem Guyana Offshore Construction Facility in Georgetown.

“It’s not about investments tomorrow. We have to make some critical investments now and we have to, and we will make those investments. . . . The resources that will come our way will have to help us together to make those investments, to secure the livelihood of the people of this country.”

Ali congratulated the Italian oilfield services company on its achievement during very trying times for Guyana and its people.

“I am thankful, and we are thankful for investors and investments. We will continue to embrace investors and investment; we will continue to acknowledge the fact that we don’t have the necessary technology at this point, the skill set at this point, and the level of investment at this point. But we must be clear on one thing; this point will not always be the point. It will have to change.”

The President also urged the private sector to come together and build synergies and go after the opportunities that will arise.

He said that it is a perfect environment for the concept of lead and leveraging, as the oil and gas sector will allow the opportunity for Guyana to leverage ourselves in many different areas.

Ali then pointed to the gas to shore project which he added will not only cut the cost of electricity by 50 percent but will attract manufacturing and industrial development to Guyana.

“That by itself brings a whole fabrication industry with it. It brings with it marketing, servicing, packaging, distribution, logistics and that is the macro plan we are looking at,” he said while urging Guyanese to embrace all of the opportunities that exist beyond the oil and gas sector.

He also pointed to the widespread flooding in parts of the country, which has led to the devastation of crops, livestock and the loss of livelihoods and pointed to the importance of having a multiplicity of income generators to aid the country and its people.

He said that with climate change, there is a need to put systems in place to facilitate unhindered growth.

The President said that his objective is to get all Guyanese out of poverty and to create adaptable plans to ensure that the country will not continuously be a victim of climate change. (CMC)