AS Guyana advances along its path to prosperity, the country is ripe for a plethora of investment opportunities, and from all indications, the wider world is interested.
On Tuesday, the Delegation of the European Union (EU) in Guyana in partnership with the Caribbean Export Development Agency and the Guyana Office for Investment (Go-Invest), hosted the first-ever ‘Invest in Guyana’ virtual conference. The engagement attracted an audience of approximately 500 delegates from 47 countries within the EU. In his message to the forum, Guyana’s President, Dr. Irfaan Ali, assured the potential investors that the country’s growing economy will facilitate business expansions and innumerable investment openings in every sector.
“The opportunities will be boundless; this conference allows our investors to gain insights into the economic opportunities which will become available. Investors doing business with Guyana can be assured of an ever-improving enabling environment for business. They can be sure of a growing economy which will support business expansion,” Dr. Ali noted.
The Head-of-State added that potential investors can also anticipate a macro-economic framework that guarantees stability and protects their assets, as well as fiscal incentives to attract their investments and ensure greater competitiveness.
“They can look forward to improvements in ease-of-doing-business and respect for property rights and the rule of law. Guyana offers a number of advantages for European firms,” the President said.
He reminded the participants that Guyana has been engaged in an economic partnership with Europe for the past 45 years and, therefore, has well-established investor relations. He said that Guyana presents a number of advantages for European firms, and is also strategically positioned to offer access to key markets, including the Caribbean. Dr. Ali further said that Guyana welcomes investors from Europe and looks forward to European foreign-direct investments and for Euro-based firms to partner with local companies to seize the many unfolding economic opportunities.
“Guyana is on an upward trajectory. We will soar to greater heights. This is a time of great change in Guyana. It is also an opportune moment for us to reset our relations with Europe. Investment must be a key element of that process. And, you are the trigger to ensuring it happens.
“Guyana is pursuing a transformative agenda which will require significant investment. The European Union, in turn, is charting its post-pandemic reopening and recovery, and this will drive the bloc to explore new trade and economic opportunities for enhancing its global reach and influence,” Dr. Ali reasoned.
He said too that the conference is taking place against the prospects of a renewed long-term partnership between Europe and the African, Caribbean and Pacific Group (ACP). Against this backdrop, the event was seen as the ideal opportunity to reposition Guyana-EU relations.
DEMOCRATIC STANCE
Reflecting on the one-year anniversary of Guyana’s unprecedented six-month-long elections, Dr. Ali reiterated his appreciation for the democratic stance by the EU in 2020. He said too that the EU has been a bastion of promoting respect for human rights and democracy.
“Guyana’s relations with the European Union and its member states are based upon respect for human rights and democratic norms. Democracy remains indispensable to ensuring a favourable environment for attracting investment, stimulating trade, and fostering economic development,” President Ali surmised.
He said that Guyana is also grateful for the EU’s support over the years, especially in the areas of private sector development and supporting climate adaptation and mitigation.
Through the European Development Fund and its support for Guyana’s National Indicative Programme, the EU has made a significant contribution to the country’s efforts to reduce poverty and build greater climate resilience.
“This conference must add impetus to this intent by becoming a pacesetter in encouraging greater investment flows from the European Union to Guyana. In doing so, it will serve to reposition Guyana’s long-standing ties with the EU,” Dr. Ali said.
He reminded of his government’s transformative agenda, which is likely to see unprecedented levels of growth and development within the next five years, opening up investment opportunities across all sectors.
The EU Ambassador to Guyana, Fernando Ponz Cantó, said that the participation of close to 500 delegates from 47 countries is proof of the potential and the importance of Guyana as a business-friendly destination.
He referenced this period as being just the beginning of Guyana’s potential, given that it is the fastest-growing economy in the hemisphere and one of the fastest-growing economies in the world.
Also delivering remarks was the Executive Director for the Caribbean Export Development Agency, Deodat Maharaj, who pointed to the “spirit of optimism and possibility” that pervaded the event. He reiterated the agency’s commitment to partnering with Guyana in an effort to further promote investment opportunities in Europe and the wider world.
