Monday, February 26, 2024
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HomeNewsCaribbean NewsForeign companies eyeing Guyana as headquarters

Foreign companies eyeing Guyana as headquarters

By Synieka Thorne

GEORGETOWN, Guyana, (DPI) – With the PPP/C government in office, Guyana’s economy has been seeing massive growth, increasing investors’ confidence in exploring opportunities, and establishing bases in the oil-producing nation.

His Excellency, Dr Mohamed Irfan Ali said the government is creating the framework to accommodate such investments.

As I speak to you now, there are many global multinational companies who are looking and examining our system, our legal system, our institutional system to make Guyana their corporate headquarters for this region,” the president said Monday, during a sod-turning ceremony.

Already, Schlumberger, one of the world’s leading oil service providers has chosen Guyana as the location for its regional base, with the construction of a modern facility at Houston.

On the financial side, the head-of-state said, the administration is also working to create the legislative and policy framework to make Guyana a destination of choice for financial services.

You will see us going to parliament now, and some people may say, ‘oh why are you changing the laws?’ But the first thing we have to do is to create the foundation,” he affirmed.

He explained, “We have to have the legal framework, the institutional framework to support this transformation.”

The president noted that while these developments are not physical, major work will be put into establishing the necessary structures to facilitate new investments.

“…because this type of transformation is not physical, you can’t see a building out of it. Sometimes we don’t appreciate the value and work that go behind this type of transformation…but you will feel the effect of it in a more efficient system,the president said.

Highlighting the country’s developmental trajectory, president Ali said while roads, bridges, schools, and health facilities are being built and expanded, the government is working assiduously to create the environment that will project Guyana along a path that brings prosperity for the citizens.

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