Guyana being eyed as headquarters by foreign companies

President Irfaan Ali, President of the Cooperative Republic of Guyana

Guyana’s economy has been seeing massive growth, increasing investors’ confidence in exploring opportunities, and establishing bases in the oil-producing nation, with this government in office.

President Irfan Ali noted that the government is creating the framework to accommodate such investments.

“As I speak to you now, there are many global multinational companies who are looking and examining our system, our legal system, our institutional system to make Guyana their corporate headquarters for this region,” Ali said on Monday, during a sod-turning ceremony.

It was revealed that already, Schlumberger, one of the world’s leading oil service providers has chosen Guyana as the location for its regional base, with the construction of a modern facility at Houston.

The President said that on the financial side, the administration is also working to create the legislative and policy framework to make Guyana a destination of choice for financial services.

“You will see us going to parliament now, and some people may say, ‘oh why are you changing the laws?’ But the first thing we have to do is to create the foundation,” Ali explained.

He continued, “We have to have the legal framework, the institutional framework to support this transformation.”

President Ali stressed that while these developments are not physical, major work will be put into establishing the necessary structures to facilitate new investments.

“…because this type of transformation is not physical, you can’t see a building out of it. Sometimes we don’t appreciate the value and work that go behind this type of transformation…but you will feel the effect of it in a more efficient system,” the President said.

The Head of State in highlighting the country’s developmental trajectory, noted that while roads, bridges, schools, and health facilities are being built and expanded, the government is working assiduously to create the environment that will project Guyana along a path that brings prosperity for the citizens.