Guyana to be positioned as strategic storage hub – President Ali
President Mohamed Irfaan Ali outlined a bold plan to position Guyana as a strategic storage hub for countries in the Gulf, highlighting supply vulnerabilities posed by the war in the Middle East.
Speaking at the commissioning of Demerara Bank Limited’s new branch on Monday, he said that the closure of the Strait of Hormuz offers a critical lesson in global logistics and preparedness.
“You have a situation now where marine transportation, global insurance, movement of food, movement of fertilizer, movement of petrochemicals, all of these things can come to an almost instant halt,” President Ali said.
He noted that many countries are currently relying on reserves accumulated over recent months to cushion supply shocks.
“If the Strait of Hormuz continues to be closed for the next three, four weeks, we are in a global crisis,” he stated.
Against this backdrop, the President said Guyana is positioning itself as a viable alternative for long-term storage and distribution, particularly for countries in the Gulf seeking to diversify risk.
“I want to present to the Middle East… you guys have great infrastructure, but now is the time for you to evaluate whether it is necessary to build that strategic infrastructure in other parts of the world.”
The head of state argued that Guyana’s geographic location and economic profile make it well-suited for such a role.
He pointed to its Atlantic access, proximity to major Brazilian markets, existing regional trade arrangements and natural resources as assets that support this strategic positioning.
“I have asked my staff to begin engagement with the technical level, because this is where we have to be,” the President stated.
Alongside the drive for global positioning, President Ali highlighted several domestic initiatives geared towards expanding the country’s production and economic growth.
He said that within a couple of weeks, Guyana is expected to export soya for the first time.
The head of state said this is part of a broader strategy to unlock more aggressive opportunities for growth, positioning Guyana as both a regional agricultural hub and an emerging player in global supply chains.