Guyana Resources useless if not used – Pres. Ali tells Summit
President Irfaan Ali.
Kaieteur News – All Guyana resources, the black gold in our Stabroek Block, our wood, gold and bauxite, would be useless to our development if not exploited, President Irfaan Ali said as he openly invited foreign investors .
The President made those remarks and more yesterday during his keynote address to the Guyana Basin Summit, a three-day virtual event bringing together industry executives, experts, government stakeholders and local business owners to invent development opportunities in Guyana-Suriname oil which is expanding rapidly. basin.
“Guyana is blessed with an abundance of natural resources that provide opportunities for all Guyanese. Few other countries in the world can boast of being home to gold, diamonds, bauxite, sugar, rice, cattle and other livestock, forestry, oil and gas, rich agricultural lands, freshwater and tourism. There is no reason for our country to be poor, or for our people to want. We must collectively seize these natural resources that have been given to us and turn them into a national treasure, ”President Ali told the Summit.
And with the growing oil discoveries, Guyana is ready for greatness, he added. “We welcome investment in the Guyana Basin as well as the multiple opportunities it will spawn in our economy. This Summit is an opportunity for investors to confirm their participation in our economy, including in the non-oil sector, ”said the President.
According to the Head of State as well, Guyana is set to become the economic and energy epicenter of the Western Hemisphere and is due to emerge as one of the most diverse regional economies providing a treasure trove of economic opportunities.
He also detailed that the manufacturing, information services, health and agriculture sectors will also drive the country, not just oil and gas.
“This dynamic transformation will be driven primarily by the private sector. Local and foreign businesses, working hand in hand and sometimes in partnership, will act as the main driver of economic output efficiency and competitiveness, ”the Head of State stated in his address.
Pointing to the Guyana-Suriname basin, President Ali said that with the estimated double proven reserves, he solidified Guyana’s position as a lucrative emerging petroleum state.
Continuing, the President noted that Guyana intends to maximize the number of business opportunities that exist along the value chain of the country’s new petroleum sector, with the further expansion of drilling, exploration and production activities in the petroleum sector.