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ExxonMobil praises Govt. for welcoming foreign investors
Kaieteur News – President of ExxonMobil Guyana, Alistair Routledge on Friday evening expressed confidence in the Government of Guyana’s (GoG’s) strategy for welcoming investors to the country.
Routledge was at the time delivering remarks at the American Chamber of Commerce (AmCham) Guyana’s fifth anniversary celebration at the Marriott Hotel in Kingston, Georgetown when he pointed out that the United States (U.S.) is Guyana’s largest bilateral trade partner.
He told the businesses represented at the event that the trade relationship between the two states in the past year valued US$3.9 billion, quoting data shared by President Irfaan Ali.
The ExxonMobil Guyana President was keen to note that the private sector plays an essential role in building strong communities and more importantly, “supporting democracy”.
He therefore highlighted the importance of the GoG making the right decisions to support investors. He said, “We all know that capital generally flows to the most attractive opportunities globally; those with the best trade offer and returns. That means Guyana is competing globally for capital so for Guyana to continue this wonderful advance, the country needs to ensure it is pursuing those strategies with foreign investors in mind.”
ExxonMobil Guyana President, Alistair Routledge delivering remarks at the AmCham Guyana Anniversary
To this end, the President of the company noted that he is optimistic of the government’s support, pointing to the recent passage of the Single Window Bill; which paves the way for hassle free construction permits and other regulatory approvals for investors. According to him, such measures “make it much easier to secure construction permits and generally do business in Guyana.”
Even as he praised the administration for its welcoming approach, Routledge believes there are a number of other measures that can be taken by government to improve the local investment climate.
He said, “As we all know, there are a number of opportunities for improvements that would make Guyana even more attractive for additional foreign investment such as improving tax administration, further streamlining regulatory processes and improving access to finance.”
Routledge noted that already the private sector and international trade movements have been transforming the country. He said, “Companies are providing safer, higher quality and more efficient services to their customers including those of us in the oil and gas industry and all of this is having a ripple effect, going beyond the oil and gas industry and cascading into other supporting sectors like technology, telecoms, IT, software, finance even waste management, agriculture, hotels (and) catering to name just a few.”
He concluded his presentation on Friday evening by indicating that the future for Guyana and trade with the U.S. is bright, as it promises a more secure and prosperous future for all.
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