Tuesday, June 25, 2024
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HomeBusinessEconomyGuyana an attraction for Canadian companies, says High Commissioner

Guyana an attraction for Canadian companies, says High Commissioner

– Over 20 companies slated to attend the energy conference

GEORGETOWN, Guyana, (DPI) – With Guyana experiencing rapid economic growth owing to the booming oil and gas sector and investments in other sectors, Canadian companies are now turning their heads in this direction to capitalise on the array of opportunities that are available.

Canada’s High Commissioner to Guyana, Mark Berman made the disclosure during a recent interview with the Department of Public Information, (DPI) describing Guyana’s transformation as ‘phenomenal’.

The commissioner explained that although the oil and gas sector plays a major role in this transformation, the government’s ambitious agenda of developing other sectors is an integral part.

“They [government] have got a very, very ambitious plan and agenda for growth, infrastructure and you know, as you start to develop the country, as you start to build bridges and roads, and new sources of energy like the gas-to-shore and potentially the hydro projects and renewables, then you’re creating work and you’re creating opportunities for other sectors,” he expressed.

The high commissioner said investments in health, education and other sectors for 2023 will also present newer opportunities.

Moreover, Commissioner Berman pointed to government’s attractive incentives for investments.

“If you look at the very ambitious plan, the incentives for foreign investment, the money that is coming into the country, these are all driving a healthy economy,” he asserted.

Mining, agriculture, agriculture technology, healthcare, renewable energy, green technology and infrastructure are some of the prominent sectors Canadian companies are looking to capitalise on.

“For instance, there is a company right now called Instream, they have a license for technology for river turbines which is perfect for Guyana. When you look at the remote areas with the river capacity there, you can build and you can grade turbine energy, depending on the needs of the areas…they have already signed an MOU with Iwokrama for a pilot project,” Commissioner Berman alluded.

There is also a major interest in the oil and gas sector with over 20 Canadian companies slated to attend the four-day Energy Conference and Expo 2023, which will be held at the Guyana Marriott Hotel from February 14-17.

“They are not all oil and gas, there will be some others as well, some renewables and tech companies from the East Coast who are involved in the energy sector,” the Commissioner relayed, urging foreign companies to capitalise on these opportunities.

“Come down to Guyana. Don’t try to do this remotely, I mean, it’s evident after two years, personal contact is essential,” the high commissioner highlighted.

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