Guyana has ‘unlimited’ economic prospects – President Ali
– Assures participants at the Guyana-EU Investment Conference of a continuously improving business environment
President, Dr. Irfaan Ali, and Senior Minister in the Office of the President with Responsibility for Finance, Ashni Singh.
Kaieteur News – (DPI) He assured His Excellency, Dr. Mohamed Irfaan Ali, told investors that Guyana’s growing economy will support business expansion and that there will be countless investment openings available in all sectors of the country.
The Head of State made this assertion in commenting this morning at the opening of the virtual Investment Forum in Guyana hosted by the European Union Delegation in Guyana in partnership with the Caribbean Export Development Agency and the Guyana Investment Office (INVESTMENT).
“The opportunities will be endless … This Conference allows our investors to gain insights into the economic opportunities that will be available. Investors doing business with Guyana can be assured of a continuously improving business environment. They can be assured of a growing economy that will support business expansion. “
The President added that potential investors can also envisage a macroeconomic framework that guarantees stability and protects their assets. In addition, they can expect financial incentives to attract their investments and achieve greater competitiveness.
“They can look forward to improvements in ease of business and respect for property rights and the rule of law. Guyana offers several benefits to European companies. ”
He reminded participants that Guyana had been engaged in an economic partnership with Europe for the past 45 years and therefore had well-established investor relations. He said Guyana offers many benefits to European companies and is also strategically located and offers access to key markets, including the Caribbean.
He noted that Guyana welcomes European investors and looks forward to European foreign direct investment and for companies in the Euro to partner with local companies to seize the emerging economic opportunities.
“Guyana is on an upward trajectory. We will ascend to heights. This is a time of great change in Guyana. It is also a timely moment for us to re-establish our links with Europe. Investment must be a key element of that process. And you are the catalyst to make it happen. ”
The Head of State expressed appreciation to the organizers and the various agencies for the hard work that has gone into planning the event.
TIME CONFERENCE
He said the timing of the Conference could not have been more favorable, as the European Union (EU) and Guyana were going through changes.
“Guyana is pursuing a transformational agenda, which will require significant investment. The European Union, in turn, is tracking its re-opening and post-pandemic recovery, and this will drive the bloc to explore new trade and economic opportunities for enhancing its global reach and influence. “
More importantly, he said that the Conference was being held against the prospects of a renewed long-term partnership between Europe and the Africa, Caribbean and Pacific (ACP) Group; the event, therefore, provides an opportunity to re-establish relations between Guyana and the EU.
PARTNERS IN DEMOCRACY
President Ali used the opportunity to reiterate his appreciation for the democratic stance of the European Union, during last year’s election.
“This month, Guyana is observing a year since the March 2, 2020 election elections. Allow me in this regard to express, once again, the appreciation for the principled role played by the European Union and in particular the Head of the EU Delegation Guyana in demanding respect for the democratic will of the people. ”
He added that the European Union is the basis for promoting respect for human rights and democracy.
“Guyana’s relations with the European Union and its member states are based on respect for human rights and democratic norms. Democracy remains a prerequisite for a conducive environment for attracting investment, stimulating trade, and fostering economic development. ”
The President said Guyana is also grateful for the EU’s support, over the years, for private sector development and for its role in supporting climate adaptation and mitigation.
Through the European Development Fund and its support for the Guyana National Indicative Program, 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 mission by becoming a pacifist in encouraging greater EU investment flows to Guyana. In doing so, it will allow the repositioning of Guyana’s longstanding links with the EU. ”
He noted that Guyana is opening up a national transformational agenda; as such, the next ten years will witness unprecedented levels of growth and development and open up investment opportunities across all sectors.
EU Ambassador to Guyana, His Excellency Fernando Ponz Cantó said the participation of nearly 500 delegates from 47 countries is testament to Guyana’s potential and importance as a business-friendly destination.
He added that this is 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. In his remarks, the Executive Director of the Caribbean Export Development Agency, Mr Deodat Maharaj, highlighted the ‘spirit of optimism and possibility’ that pervaded the event. He reiterated the Agency’s commitment to work in partnership with Guyana to promote investment opportunities in Europe and the wider world.