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ExxonMobil joins with PSC to press Govt. for guarantees
…as President Ali paints Guyana as new regional economic powerhouse
Kaieteur News – The Private Sector Commission (PSC) has welcomed into its fold as a Corporate Member, ExxonMobil Guyana, which has since committed to assisting in shaping the domestic business environment, for sustainable economic growth for the long term.This was disclosed recently by ExxonMobil Guyana President, Alistair Routledge, who in brief remarks at the PSC’s 29th Annual General Meeting yesterday said, the oil company was delighted to be part of the PSC.
Head of State, President, Irfaan Ali
PSC Chairman, Nicholas Deygoo-Boyer
He noted that, “there is a lot of opportunity ahead,” as such, he welcomed the opportunity to join the Commission to be “part of trying to shape and make the business environment effective.”
This, he said, is aimed at building the PSC’s capacity in order to grow a sustainable economy for the long term.
Routledge’s remarks came on the heels of the Chairman’s Report by Nicholas Deygoo-Boyer, where he sought to demand of the administration, guarantees with regard economic opportunities to be had and political stability in future.
According to Deygoo-Boyer, the country and its economic climate cannot move forward without a stable political climate and logical, firm, policy direction from the Government.
The PSC’s Chairman was adamant that the country cannot develop without support from the private sector, given the significant investments that will continue to be made in the future.
The PSC’s Chairman in his remarks said, “…we need to be guaranteed th
ExxonMobil Guyana President, Alistair Routledge.
e future holds economic and political stability.”
He was adamant, “without it, our returns will be held in jeopardy.”
Deygoo-Boyer used the occasion to qualify his position by pointing out that investments would not see returns on in a single year, and as such, the PSC wants from Government a logical and long-term policy.
This, he said, is required since Guyana is about to be transformed in ways “we have not imagined” and “we cannot sit back and wait to reap benefits, we have to act now.”
Economic Powerhouse
Head of State, President, Irfaan Ali, in his address to the private sector gathering, sought to assure the grouping of his Government’s support.
According to the President, Government will be making the necessary investment in infrastructure and put in place the required policies in order to achieve these targets.
Urging the business community to be innovative, creative and aggressive, President Ali pointed to the Local Content Policy, which he said would be finalised shortly.
According to the President, with the emergence of the oil and gas sector, “we are also going to ensure we invest in the training of our human resources so that they can function in the sector.”
He was adamant that his Government’s vision for the country goes beyond satisfying the domestic needs of the country.
According to President Ali, over the next five years, “my administration intends to put in place the required macro-economic and legislative framework that will allow our private sector to grow and to be the integral part that it should be, in the expansion of our economy.”
He noted too that, “it is also very important that we create an environment in which our local private sector can develop their competiveness and can be the primary beneficiary of the economic transformation that will take place.”
He told those in attendance that the goal of his administration “is to make Guyana the economic power house of the region.”
The President qualified his position, to mean, a place where national prosperity and individual prosperity will be a reality and wealth creation “can and will be achieved for those who are willing and prepared to invest the required effort.”
This is in addition to transforming the nation into the business and manufacturing hub for the region.
He cautioned however, that the prospect of achieving the objectives is contingent on developing a cadre of vibrant professionals, complemented by a strong industrial and manufacturing sector.
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