GuyTIE will advance Guyana’s investment image – President Granger

─ private sector urged to capitalise on opportunities in petroleum sector

─ Guyana’s economic interests intertwined with that of the Caribbean

─ World-class discoveries off-shore Guyana to “unleash unprecedented business opportunities”

DPI, Guyana, Thursday, September 20, 2018

The inaugural Guyana Trade and Investment Exhibition – GuyTIE opened this morning at the Guyana Marriott Hotel. President David Granger, delivering the feature address, said GuyTIE will advance Guyana’s investment image and improve competitiveness.

The president pointed out that Guyana’s economic interests are intertwined with those of the Caribbean region. In light of this, he said, the government will continue to pursue regional economic cooperation in order to build greater prosperity and global competitiveness.

“The Guyana Trade and Investment Exhibition (GuyTIE) comes at a time of renewed efforts to re-energise Caribbean economies.  The exhibition’s theme – “Made Locally, Trading Globally” – and its objective of promoting export-ready firms and linking them with regional and international businesses are all consistent with the objectives of economic integration in the Caribbean”, the president noted.

The private sector was urged to capitalise on the opportunities which will be created by Guyana’s emerging petroleum sector. The president opined the world-class discoveries of petroleum, in Guyana’s maritime space, will unleash unprecedented business opportunities. In this regard, he encouraged the private sector to aim at building capacity and establishing strategic partnerships to be able to exploit the opportunities which will flow from the petroleum sector.

The Head of State emphasised that petroleum revenues will catalyse economic growth, increase employment and demand, propel innovation, intensify technology transfer and improve workforce productivity.

Guyana, the president emphasised, will soon become the Caribbean’s foremost investment destination.

However, he noted that “experience has forewarned us of the dangers of dependence on one sector or commodity. Petroleum revenues will be deployed prudently to ensure sustainable and inclusive development under the Green State Development Strategy – the pathway to the economic transformation of Guyana into a ‘Green State”.

This “Green State”, President Granger stated, emphasises the policies of preserving our biodiversity, protecting residents and economic sectors from natural hazards, promoting food and energy security, improving solid waste management and adding value to local production.

Prime Minister Moses Nagamootoo, Minister of State, Joseph Harmon, Minister of Business, Dominic Gaskin, Minister of Agriculture, Noel Holder, Minister within the Ministry of Indigenous Peoples’ Affairs, Valerie Garrido-Lowe, Minister within the Ministry of Finance, Jaipaul Sharma, members of the diplomatic corps and other government senior officials and private sector representatives, attended the opening ceremony.

By: Stacy Carmichael.

Images: Jameel Mohamed.

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