Latest update December 4th, 2024 2:40 AM
Guyana was ‘showcase’ Texas Oil Technology Conference
– But partnerships for skills, technology transfer remain priority – Investment Chief
Kaieteur News – Guyana’s Chief Investment Officer, Dr. Peter Ramsaroop, recently told journalists that the country was the ‘showcase’ of the Offshore Technology Conference (OTC) which was held in Houston, Texas, from August 16-19.
Go-Invest Head, Peter Ramsaroop
Dr. Ramsaroop noted that the keynote speeches delivered by Guyana’s Vice President, Dr. Bharrat Jagdeo, on the oil industry and the environment, were well received.
He further stated that since the oil and gas industry was a key point of interest at the conference, Guyana was able to take advantage of that excitement and use it to market other sectors. Hence, the GO-Invest Head said all sectors were fairly well represented.
He lauded the presence of the private sector there too.
“I applaud the private sector for promoting Guyana. They went in their numbers and spent good money to be there, but I think the fruits of their labour will see a lot of new interest and joint ventures coming into Guyana.”
The investment czar spoke glowingly of the interest shown by investors, making particular recollections of agriculture and business process outsourcing (BPO).
Expounding in this regard, Dr. Ramsaroop reported witnessing many memoranda of understanding (MoUs) being signed between local private sector representatives and foreign investors.
One such agreement he referenced was signed between Gaico Construction and General Services Inc. and two American companies, Myer Marine Services and Hargrove EPC. They signed a MoU for partnership on technology and skills transfers.
Ramsaroop said too, that there are some unofficial agreements still in the discussion stages. In this regard, he said, “Those are coming through our office. We are looking at the investment tax regime that may be available for joint ventures. And one of the things we do promote out of our office to any foreign company coming in, you know, the first question I ask, which local company you’re working with? You know, what are the types of jobs that (you’re) gonna hire (persons for)?”
On this note, Dr. Ramsaroop said, the government is determined to ensure local content is at the forefront of all deliberations.
“We want to make sure that our local businesses get a first shot at anything, and a lot of technology transfers need to happen with some of the larger companies. Our private sector has agreed to really work with these companies to expand their operations.”
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