Third oil and gas business summit underscores global interest in Guyana’s investment potential
For a country which, not many moons ago, had been labeled the ‘sick man’ of the Caribbean, Guyana’s seeming ‘miracle cure’ has now become not just the loudest ‘noise’ that the region has made since the boisterous collective expressions of optimism that had come with the end of colonial rule and subsequent political independence, but, as well, one of the more promising global hotspots for investment anywhere in the world today. If the sense of societal wobbliness currently manifested in a widespread strike by teachers whose salary levels are yet to come even close to reflecting the country’s petro fortune, indications are that the international community is beginning to see past what still remains largely a circumstance of poverty for the country as a whole. For Guyanese workers, the enhanced material fortunes that they are continually being told will come with the country’s oil bonanza, could hardly come too soon.
This much is reflected in the fact that news about a prevailing ‘sticky’ industrial relations climate brought about by the teachers’ ongoing industrial action appeared to have done little to keep potential investors away. A sizeable contingent of business interests from within and without the region made their presence felt in Guyana this week, all seeking to probe the potentially hugely lucrative investment opportunities that the country now has on offer. Guyana, as one commentator told the Stabroek Business, has become “the most enticing bazaar in the Caribbean for international investors.” In the presence of a roomful of politicians, influential businessmen and other dignitaries, Guyana’s President Irfaan Ali had his third tilt at
delivering the feature address at what, arguably, has become the region’s standout business profile insofar as global business interest is concerned.
In his address to the current forum, President Ali said that he wanted, “to focus on situating Guyana’s energy development within the wider context of the country’s development trajectory, so that investors and stakeholders can appreciate that our energy plans are consistent and in