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Foreign Affairs Ministry develops Investment Assessment Tool for Guyana

Jan 14, 2018 News

With Guyana’s new frontier—oil—the Ministry of Foreign Affairs has found it necessary to work even harder than before to protect Guyana’s sovereignty. This, coupled with the economic diplomacy that the APNU+AFC government has been forging, is keeping the Ministry’s staff on the proverbial good foot.
Minister of Foreign Affairs, Carl Greenidge, said that recently as he addressed the National Assembly.
Greenidge said that the preservation of Guyana‘s territorial integrity and sovereignty has always been a paramount responsibility of this Government. “The defence of our territory is a defence of our patrimony, our public infrastructure, the private assets of our people and investors, and their right to enjoy those assets within the limits of our laws.
“Towards this end, we have endeavoured to bring closure to the border controversy with the support of the Secretary-General of the United Nations and the Good Officer Mechanism, and we will continue to do so, in 2018.”
He also told the House that in February 2017, Guyana chaired the 28th Inter-Sessional Meeting of the Conference of the Heads of Government of the Caribbean Community (CARICOM). “We are working to ensure that CARICOM continues to provide wider opportunities for our people under the Caribbean Single Market and Economy (CSME), especially given that our trade within the Community represents about 25 percent of our GDP.”
Greenidge said that Guyana has actively joined in efforts to finalize negotiations on expanding CARICOM-Cuba trade relations, CARICOM-Japan cooperation, and plans on deepening CARICOM-South Korea relations, all of which contain rich economic benefits and opportunities for foreign investment in Guyana.
Greenidge boasted that these efforts already have borne fruit with Guyana penetrating the Cuban rice market and also receiving Japanese grant assistance of US$15 million for alternative energy uses.
He said, “For 2018, Government will continue to work with our bilateral and multilateral partners to support our further development and the vision and deliverables of the Green State Development Strategy.”
Investment tool
Greenidge also told the National Assembly that the development of the oil and gas sector has brought increased interest in Guyana from countries near and far. He said that interest ranges from providing logistic support to offering training in the sector.
Greenidge said that the Ministry of Foreign Affairs is currently developing an Investment Assessment Tool to evaluate the risks and benefits of potential investments to Guyana’s security. Furthermore, the Ministry of Foreign Affairs is working assiduously towards presenting a favourable image of the country to all investors through its relations with the Diaspora guided by the Diaspora Engagement Strategy in an effort to leverage the expertise, talent, and investment.

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