Government of Guyana outreach to the Houston Texas Area
– on Investment Opportunities in Guyana
Investment opportunities in Guyana was the key focus of a forum held in Houston, Texas on Tuesday (February 26). The event was hosted by the Government of Guyana, in partnership with sponsors – the Greater Houston Partnership, Hughes Fields and Stoby, Chevron, TOTALTEC Oilfield Services and Relocating to Guyana. During the session, the business executives interacted with the Guyana delegation, led by Minister of Public Infrastructure, David Patterson, Minister of Public Telecommunications, Catherine Hughes, Minister of Business, Dominic Gaskin, and Chief Executive Officer (CEO) of GO-Invest, Owen Verwey.
Aimed at promoting investment opportunities in Guyana, the event took the form of a luncheon lasting just over one hour. The attendees at the event included major players in the Hydrocarbon Industry such as Chevron, Saipem America, Baker Hughes, Mid Atlantic Oil and Gas, Halliburton, Edison Chouest Offshore and other technical professionals working in the industry, including some currently operating in Guyana and others interested in establishing operations locally.
Minister Patterson highlighted the need for investment as an emerging economy and the fact that the oil and gas industry will require local infrastructure to support the development and continued exploration work. He also underscored the major infrastructure projects the government is presently engaged in, adding that the Government is open to discuss investment opportunities such as the next three phases of the Guyana Brazil Road, the Georgetown to Soesdyke highway connection, the new Demerara Harbour Bridge and port development opportunities. The minister also noted the pending IDB report on options for Port Development.
Minister Hughes who dealt with the Telecommunications’ opportunities in Guyana, noted that today’s economy demands a commitment to technological development and emphasised the need for Guyana to diversify and invest in software and app development. The minister highlighted the plans in place to ensure the development of an Information and Communications Technology (ICT) literate society and the availability of ICT to all Guyanese. Additionally, the minister highlighted the plans for the development of an ICT park and the provision of e-services for which her ministry’s aim is to provide more than 200 e-services before 2020. Most importantly, the minister stressed on plans to update the current legislative framework that governs the telecommunications sector.
The CEO of GO-Invest thanked the partners for providing this connecting opportunity. He presented on areas that were necessary to bring confidence on investing in Guyana, the framework for fiscal and other incentives, the incentives available, the role of the agency, the Guyana advantages, opportunities in the Guyana market, and some guidance on how to begin investing in Guyana.
The meeting ended with the team, from the government, fielding questions from the audience on matters related to local content, aviation development to service the oil and gas industry.