US Embassy re-opens Commerce Department

From oil and gas, to agriculture to tourism and the hospitality sector, international investors from the United States (US) are more than eager to establish ties with Guyana, leading to the US Embassy relaunching its Commerce Department to facilitate partnership.

Responding to questions from the News Room, the US Embassy’s Public Affairs Officer Violeta Talandis said the US continues to support businesses interested in Guyana’s market and with the Commerce Department reopened, it will allow for a more “direct partnership.”

“Over the past several years the US Embassy has received interest from hundreds of different companies…several have signed MoUs, attempted to bid on projects and tenders, and already invested in Guyana,” Talandis said.

And while commercial interest remains strong, Talandis made it clear that foreign direct investors remain keen to see an improved tender process and more transparency.

Meanwhile, Guyana’s Minister of Tourism Industry and Commerce Oneidge Walrond shared that the “uptick” in interest is attributed to confidence in Guyana’s investment opportunities, supported by the country’s oil and gas sector.

“It is also indicative of the confidence the international business community has placed in our economy and our stewardship of it… This is testimony to the facilitatory and business-like approach of our administration,” Minister Walrond told the News Room.

“Investors from numerous countries have been engaging the government at different levels, about their interest in both the oil and non-oil sectors, including tourism,” she added.

According to the Tourism Minister, interest has emerged not only from the US but from big-name companies in the United Kingdom, China and the United Arab Emirates just to name a few.  And their investments will bring resources to support the government’s strategy of building a diversified and resilient economy, Minister Walrond said.

“Our administration is keen on developing the non-oil sectors and this new investment focus is proof of progress towards achieving the vision of a holistic approach to development,” she concluded.