President Ali declares that Guyana’s investment stage set

Guyana’s investment stage is set and ready to add more investors to its burgeoning list as the country moves swiftly towards becoming a highly favourable destination for entertainment and relaxation.   It was revealed that the country will soon witness a host of new Expressions of Interest (EoIs) in several major investment opportunities, which the government is aggressively undertaking.

“And we are asking investors from across the world to participate fully,” President, Irfaan Ali said, during an ISO certification ceremony at the Office of the President, Shiv Chanderpaul Drive, on Tuesday.    It was noted that as part of the massive development, President Ali pointed out that the government is looking to launch an EoI for the 30,000-barrel refinery.

It was revealed that the government is also looking at the auctioning of new oil blocks. Ali reiterated that the country continues to see a tremendous response in the establishment of hotels, with six of them currently under construction, while designs for others are being finalised before building works commence.

“The stage is set. At the same time, we are advancing the training of our human resource capacity to meet the needs that the new investments are going to require from a human resource perspective,” the president said. The Head of State explained that government wants to design an annual programme that will position Guyana as a premier destination for entertainment, specifically in the sports and tourism arena in the Caribbean.

“We are working on modifying our horse racing to make it a premier regional event, attracting international participation… working in the motor racing industry,” Ali added. Further, the administration is also in the process of reaching out to the World Boxing Council (WBC) to discuss how Guyana can become a recognised venue for the highly energetic sport.

Ali remains adamant that his administration’s vision can position Guyana beyond oil and gas, notwithstanding the challenges it may encounter during the journey. “As I said before what oil and gas does is give us the revenue to build the infrastructure to support the advancement and broadening of the economy and that is what we are targeting,” he said.

Meanwhile, President Ali thanked the team who orchestrated the recently concluded cricket carnival, noting that without a doubt the event will ensure Guyana gains an extra push towards greatness. It was noted that already, the carnival season has brought several overseas investors to the nation’s shores, who have signaled their interest to set up operations here.

Chief Executive Officer of the Guyana Office for Investment, Dr Peter Ramsaroop reported to the media that the lot includes about 40 Brazilians and 25 Jamaican stakeholders seeking to partner with local entrepreneurs. “So, one of our goals in our office is to ensure we match them up with local investors to ensure that they can meet what they are looking for. So yes, cricket carnival produced not only just entertainment but it has a rippling significant impact on investment opportunities in Guyana,” CEO Ramsaroop said.