Gov’t lauded for creating investor-friendly environment

─ as oil and gas machining, repairs company opens

The People’s Progressive Party/Civic (PPP/C) Government has received high commendation for fashioning an attractive environment for both local and international investors.

Chief Executive Officer (CEO) of NTS Group, Paul McMillen thanked His Excellency, Dr. Mohamed Irfaan Ali and his government for creating such an enabling environment.

The NTS Group is known globally for providing complex manufacturing, repair and rental solutions for the oil and gas sector. The company opened the Guyana branch of the mega NTS Amega Atlantic company, at Houston Estate, Georgetown, on Wednesday evening.

“By facilitating concessions and extending support to new initiatives, you have created an environment which supports both local and foreign business,” the CEO said, during brief remarks at the commissioning ceremony.

President Ali said Guyana stands ready to welcome investments from all parts of the world, noting that the new complex will aid growth and development in other territories of economic expansion.

“We understand the nature of these investments. Machining and fabrication are an integral part of the oil and gas sector. More importantly, these are the types of investments that would change the skill sets of our human resource base,” Dr. Ali pointed out.

He said while the company is set to provide 25 direct job opportunities, sectors such as transportation and logistics, among others, also stand to benefit.  

“That is why it is important that every aspect of the puzzle, not only the large-scale investment, but the small and medium – size investment be put together to make the integrated whole as to what the oil and gas sector brings to our country,” he underscored.

Further, the Head of State emphasised that the oil and gas sector provides the opportunity to modernise machining and fabrication services.

“We live in a region that is tourism based, where we have many cruise ships, yachting industry, these are industries that require a lot of machining services.

Once we have investment in the technology for the oil and gas sector, the natural spin off is these other sectors, including manufacturing and industrial development,” the President added.

Government continues to extend an olive branch to companies looking to invest in its oil and gas producing sector. However, the entities are reminded that Guyanese must be able to benefit from those investments.

Dr. Ali said his government does not show interests in big investors only. The intention, he stated, is to build an economy that is sustainable and beneficial to all Guyanese.

“There is scope and room for different scales of investment. Once we’re willing to forge the type of partnership that is required, there is room,” the President asserted.

Additionally, he reminded of the incomparable partnership between Exxon Mobil and the government to transform the GuySuCo Training Centre at Port Mourant, Corentyne, into a hub that could provide specialised training across all sectors.

Meanwhile, Chief Executive Officer of Go-Invest, Dr. Peter Ramsaroop said Guyana’s business future is looking bright, noting that the journey to massive transformation, is part of President Ali’ s commitment to the Guyanese people.