UK visit to augur well for Guyana’s investment future says President

Guyana’s future as an investment capital is a promising one and foreign investors are keen on the country’s investment potential. This sentiment was expressed by President David Granger ahead of Guyana’s attendance at an Investment Seminar on Guyana which will be hosted by the Council at the Army and Navy Club, London.

Government views Guyana’s attendance at this seminar as critical since it augurs well for the country’s investment agenda.

It was noted too that the event comes at a time when renewed interest in investment by foreign stakeholders is growing due to Guyana’s changing business environment. The seminar will be attended by several major UK-based stakeholders including Tullow Oil plc, Repsol S.A, BK Atlantic as well as other agencies interested in investing in Guyana and the Caribbean in the areas of port infrastructure and other sectors.

The President speaking after the meeting said there is a deeper interest in investment, noting that investors are very careful with their investments; therefore they are waiting to see changes to the conditions that existed before.

President Granger believes that now the investors are seeing greater transparency, a respect for institutions, the passage of legislations for anti-money laundering, the arrest of former government servants who have been accused of committing offenses, they feel that Guyana is a safer, cleaner destination for their investment.

President Granger said that this visit is a reengagement with the United Kingdom which is meant to strengthen ties and is not necessarily triggered by BREXIT.

This reengagement, the President said, could also see long-term benefits for the Caribbean, and by extension for Guyana.

Meantime, Foreign Affairs Minister, Carl Greenidge said Guyana’s future as a petroleum producing nation has undoubtedly increased the interest of other countries with regard to investment opportunities.

But while the Government continues to assure Guyanese of these impending investments, the Opposition is maintaining that wrong signals are being sent to potential investors, which the many allegations of corruption.Concerns were also raised about the lack of investments, heavy taxation and devastating consequences of the ailing sugar industry among others.