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HomeInsightsGuyana attractive, competitive destination for investment, says chief investment officer

Guyana attractive, competitive destination for investment, says chief investment officer

GEORGETOWN, Guyana, (DPI) – With the past few years of mammoth investment and development driven by the thriving oil and gas sector, Guyana has become a leader on regional and global fronts, even as investor interest in the country continues to rise.

Chief executive officer of the Guyana Office for Investment (Guyana Invest), Dr Peter Ramsaroop on Monday said Guyana is widely regarded as an attractive and competitive destination for investment.

“Guyana is prime in its own self…We are a high-performing stock. We are not an emerging stock anymore, where somebody is just wondering whether they should come to Guyana and invest. People are upset. A lot of investors… have come and said, ‘I came in 2019 and 2020, and I wish we had stayed.’ Now that they come back in, an acre of land on the water is a million to two million USD. So, it tells you the growth of what is happening in Guyana. Guyana is sitting on its own,” he stated.

During his interview with OilNow, Dr Ramsaroop said the border dispute with neighbouring Venezuela has not been a deterrent to investment in Guyana.

Rather, foreign investors are seeing Guyana’s potential and taking note of the opportunities being presented by president, Dr Mohamed Irfaan Ali in the energy sector, as well as across other industries.

“Our president has outlined a vision for Guyana. We have set a stage for where we fit in the region and the wider world, and we will be a leading investment destination. We are proving that every single day…That’s where our private sectors will step up more because now we get a better chance to lead those efforts,” Dr Ramsaroop said.

He reiterated the value of local content legislation in Guyana, noting that it has played a major role in increasing investor confidence in Guyana as an investment destination. He also highlighted several companies which are currently investing in Guyana’s non-oil sectors and pointed out that with both foreign and local private sector investment, Guyana’s economy will continue to expand.

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