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‘Invest now: 10 years from now will be too late’
…Vickram Bharrat tells potential investors
Kaieteur News – Minister of Natural Resources, Vickram Bharrat on Friday urged members of the Private Sector Commission of Guyana (PSC) to take full advantage of the investment opportunities that exist.
Minister of Natural Resources, Vickram Bharrat (‘Invest now: 10 years from now will be too late’)
Bharrat was at the time speaking at a Local Content Forum organized by the PSC and held at the Marriott Hotel, Kingston, Georgetown.
“Guyana is probably now in its stage where I like to say it is in the most exciting period in the history of our country where the time is right now to invest, when we are building out a new modern economy and we are expanding existing sectors now is the time to invest in Guyana,” he stated.
The minister reminded attendees that the time is apt given Guyana’s rapidly growing economy.
Since oil was discovered in 2015 and production commenced in 2019, Guyana’s economy has rapidly expanded. Notwithstanding, the minister noted that the private sector must look beyond the oil and gas sector for opportunities.
“Let us look at opportunities outside of the oil and gas sector but it supports the oil and gas sector…Agriculture is one, tourism is another one that is not directly linked to servicing the oil and gas sector but there’s many opportunities now,” he noted.
Bharrat also mentioned potential opportunities in mining and value-added activities in the forestry sector.
Moreover, with a sense of urgency, Minister Bharrat reiterated that now is the time to invest.
“Another 10 years from now might be too late, it might be too late,” he cautioned, encouraging the private sector to seize the moment as Guyana builds a new modern economy.
Meanwhile, the Natural Resources Minister praised the private sector and current investors for their confidence in Guyana, attributing their interest to the favorable business environment fostered by the government.
“I want too, to recognize the private sector that is represented here today, the investors who are here today you must be commended too for the confidence that you would have placed in the economy, the country and of course the government of Guyana,” Bharrat told the gathering at the Guyana Marriott Hotel.
He highlighted that the government has created a climate that is friendly and conducive for investment.
“There are so many other countries around the world with so many resources much more than Guyana but you would have chosen to invest in Guyana, and there is a reason why you choose to invest in Guyana it is because of the conducive, and favorable environment that has been created by the government of Guyana,” the minister said.
Reflecting on the country’s progress, Minister Bharrat remarked, “Sometimes we don’t say that a lot but sometimes we have to actually highlight what the government has done in the last 3, 4 years…”
He outlined that the current administration had two years of COVID and two years of real work, which resulted in Guyana becoming one of the fastest growing economies in the world.
He noted, “That is no easy feat.”
‘(Invest now: 10 years from now will be too late’)
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