Guyana courts foreign investors in agriculture and service sectors – Demerara Waves Online News- Guyana

Updated on Tuesday 19 October 2021, 9:00 by Denis Chabrol

From left to right: Tourism Industry and Trade Minister Oneidge Walrond; Minister of Finance Dr. Ashni Singh; President Irfaan Ali and Minister of Culture, Youth and Sports, Charles Ramson. At the desk is the Managing Director of the Guyana Office for Investment (Go-Invest), Dr Peter Ramsaroop.

President Irfaan Ali and his delegation on Tuesday courted investors from the United Arab Emirates (UAE) to take advantage of the opportunities of large-scale agriculture as well as a range of services.

He said during a press briefing at Expo 2020 Dubai that the Middle Eastern nation and Guyana could “twin our approach to development,” including through joint ventures in agriculture. “The United Arab Emirates also faces the challenges of food security. Let’s see how Guyana can support your food security agenda and that of the region, by matching your resources, your investments with the land and this is the kind of visionary approach we want to create to move forward ”, did he declare. The president said the UAE could use Guyana to look beyond its traditional areas and partner with Guyana to expand its “footprint” in South America.

Finance Minister Dr Ashni Singh added that areas of opportunity in agribusiness included building mega-farms, upgrading and modernizing supply chain systems, agriculture smart in the face of climate and agrifood processing.

Tourism, Industry and Trade Minister Oneidge Walrond, who is also part of the Guyanese delegation to Expo 2020 Dubai, said his country, an emerging oil producer, would explore the possibility of setting up a financial services sector similar to that of Dubai. “We believe it offers a great lesson and a model to emulate for countries like Guyana which have been blessed with oil resources and seek to lay the foundations for a sustainable and diverse economy,” she said. ,

“We send you the message that Guyana is open for business and is ready to take its rightful place on the world stage,” she added.

Ms. Walrond encouraged investors to take advantage of opportunities in “high quality hotel rooms” and “upscale eco-lodges” to meet increasing visitor arrivals as well as top-notch conference services. associated range. “We aim to build our hospitality industry on the wave of demand that currently accompanies our oil-driven economic expansion and our goal is for Guyana to become the leading business and leisure hotel destination in the Americas,” she said. declared.

She added that there are also lucrative opportunities in shipping and logistics services as the country expands its road links and bridges to northern Brazil and the Guyanese Shield countries.

The Minister of Tourism, Industry and Trade also said that Guyana has the right conditions such as multiple submarine fiber optic cables, a liberalized telecommunications market and the absence of earthquakes and hurricanes.

The minister said that there are opportunities in the health and education sector, such as university hospitals, specialist hospitals and offshore campuses of international universities.

ExxonMobil has discovered more than 10 billion barrels of oil equivalent in the Stabroek block off Guyana. Currently, the country produces 120,000 barrels of oil per day.

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