Oct 20, 2021 News
Kaieteur News – President Mohamed Irfaan Ali, during his address yesterday at World Expo 2020, one of the oldest and biggest events on the planet, boasted that Guyana has attractive incentives for foreign investors and invited them to come do business with this country.
“We need investment to drive our transformative agenda and we are keen on attracting investment across all sectors. I invite you, all of you, to come and do business in my country. We welcome you. We have an open economy and with investor-friendly policies in place, including attractive incentives regimes and laws, which protect the right to property, and which also allows freedom to repatriate profits”, Ali told an audience of high-ranking dignitaries from the United Arab Emirates, the host country for the Expo.
World Expo 2020 is currently being hosted in Dubai under the theme ‘Connecting Minds, Creating the Future’ and a total of 191 countries are said to be participating in the event which first began in 1851 in Great Britain.
Guyana is making its first appearance at this grand event, and yesterday the country celebrated its National Day at World Expo 2020 Dubai during which President Ali gave an opening address.
Ali said that Expo provides countries, such as Guyana, opportunities to showcase its products and services, and to establish connections and synergies with investors and suppliers.
He then went on to say that his country is delighted to be participating in an event being held in Dubai, a magnificent city, with a fascinating story behind its development.
“The story of Dubai’s development is truly fascinating and in recent times I hear people predict that my country Guyana will be the next Dubai. I often have to caution them that resources require investment to create wealth and generate opportunities for human wellbeing”, stated the president.
With that being said, Ali continued his address by giving some background on Guyana’s diverse culture and history before focusing on his vision for the country’s development and the opportunities it offers.
“Today I want to tell you little bit about my country, our vision for its development, and its tremendous investment opportunities which presently exist”. Ali said.
The President said he believes that Guyana is in its finest era and is currently being prepared for its fastest and most explosive economic transformation and, as a result of this, his government wants to ensure that the country becomes prosperous.
Prosperous, he continued, so that Guyanese can enjoy a high standard of living including a 21st century education and world class health services.
“I want Guyanese to enjoy these and other benefits in a healthy, safe and secure environment; we want to see a modern Guyana, which would mold the next generation of our children and provide them with the best life we can offer. We want to build a more inclusive society in which our diversity is celebrated” stated Ali.
However, the President noted that in order for this to happen, “Guyana needs to convert its abundant resources – both material and human-into wealth”.
Once this is done, continued the President, the wealth will then be converted into human prosperity.
Ali said that he is of the view that World Expo 2020 can provide Guyana with the opportunity to convert its resources into wealth and human prosperity, by allowing it to showcase not only its products and services, but also to underline its investment opportunities in infrastructure, housing, energy, Information Communication Technology (ICT), agriculture, manufacturing and the oil and gas sector, among others.
With that being said, the President then invited foreign investors to do business with Guyana and even advertised that they will benefit greatly, if they make that decision, as prompted by the attractive incentives.
He said that Guyana is on an irreversible growth trajectory, and that this fact alone should provide comfort to investors that they are entering an economy, which is expanding and doing so rapidly.
Guyana, he said, is already becoming a beacon for investment.
“Oil companies are bullish for investing in Guyana; other companies are following their lead. International companies are lining up to do business in Guyana”, said the President.
He continued “Almost all of our sectors have the capacity for expansion” and assured that “There is no crowding out of potential investors”.
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