Guyana commended for management of resource wealth

Guyana has received commendation for its stellar management of its resource wealth, specifically in the oil and gas sector from Global Educator and Policy Innovator in energy security and extractive industry transparency, David Goldwyn.

Goldwyn met with members of the local media, Tuesday morning at the Centre for Local Business Development (CLBD), as part of its “Join the Conversation” series.

Throughout the week he will be meeting with government officials, university students and members of the business community.

According to Goldwyn, “In Guyana, I think there are tremendous reasons for hope…that’s because of the lessons learnt on how to get resource management right. The top-of-line strategies of the government are really all first-rate…create a natural resource fund, save for future generations, sequester some of those revenues; second diversify the economy, and look at other areas that can create jobs.”

The educator also commended the government for its strong leadership in resource management.

“So, it’s a lot to think about. It’s important and the government understands this perfectly well to get the business right and to get things done fast and maximise those revenues for sustainable development,”he added.

Meanwhile, Director of CLBD, Dr. Natasha Gaskin-Peters noted that the “Join the Conversation Series” is important since Guyana now has a lot of oil resources.

She said is important to ensure that Guyana manages the resources in an efficient way so that the lives of Guyanese are improved.

The CLBD’s “Join the Conversation” series aims to create an understanding of how countries and companies have managed resource wealth and how a growing economy can affect business in the near and distant future.