Vice President Dr. Bharrat Jagdeo has described the ongoing 2025 Guyana Energy Conference as an “exciting” event while pointing out that it is in stark contrast to past affairs under the previous APNU+AFC government.
While emphasising that it is much more than just oil and gas, Jagdeo highlighted the government’s intention to use the conference as a platform to promote Guyana’s non-oil sectors.
Speaking at his weekly press conference on Thursday, Dr. Jagdeo noted the government’s intent on showcasing the country’s vast potential for economic diversification.
“There’s been healthy interest in our non-oil and gas sectors from many participants,” said Dr. Jagdeo.
Along with President Irfaan Ali, ministers, and technical staff, Dr. Jagdeo said he has met with numerous investors and stakeholders, furthering discussions about Guyana’s growing opportunities outside of the oil and gas industries.
“We want to use this conference to highlight the wealth and growth potential that exists outside of oil and gas. This is consistent with our approach to economic diversification.”
Dr. Jagdeo emphasised that the prosperity brought about by the oil and gas sector will inevitably decline in the future, and it is crucial for the government to develop other industries to fill that gap.
“If we do not do that, we will suffer the same fate as many other countries: brief periods of growth followed by long periods of economic decline,” he cautioned.
The conference, Dr. Jagdeo stated, is a step in the right direction, with a significant focus on areas beyond oil and gas, such as innovative payment methods, new technologies, and much more.
The Vice President also expressed his satisfaction with the level of local participation at the conference, highlighting that Guyanese companies were present in full force.
Many of these companies have been accredited with local content certification, and Dr. Jagdeo noted that numerous local firms are making pitches for partnerships and technology transfers with foreign companies.
With scores of Guyanese companies accredited, Dr. Jagdeo believes that this involvement will lead to more collaborations, enabling local businesses to grow alongside foreign partners, benefitting from their capital and expertise. However, he acknowledged that navigating the Guyanese landscape can be a challenge for foreign investors, stressing the importance of a transparent and well-defined policy environment.
“This conference is exciting, not a damp affair,” Dr. Jagdeo remarked, pointing out the clear direction now provided by the current government.
He contrasted the ongoing event with past years, where policymakers often struggled to provide clear guidance, leading to frustration from both local and foreign stakeholders.
“Under the previous APNU+AFC government, policy direction was unclear, and ministers were scarce. Now, if you ask about policy, there are clear answers,” he stated.
Dr. Jagdeo also took the opportunity to highlight the significance of the event being organised by Guyanese, with a secretariat led by Guyanese women.
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