‘Local economic gaps are opportunities’ – Go-Invest Chair tells investors

As the country’s inaugural petroleum summit gets underway, the country’s investment agency has urged investors to view the local economic gaps, not as shortcomings but opportunities.

The Guyana International Petroleum Business Summit and Exhibition (GIPEX) 2018 opened today (February 7, 2018) at the Marriott Hotel, Kingston.

Patricia Bacchus, the Chairperson of the Guyana Office for Investment (Go-Invest), urged investors to cultivate strong business relations with the view of tapping into sectors, like the oil and gas industry, and others.

Similar remarks were echoed by the Chairman of the Private Sector Commission (PSC) Eddie Boyer. He urged the participants to look at additional sectors to build alliances for business ventures that can develop Guyana.

Boyer explained that the business community, though inexperienced, is not sleeping – and that players are greatly interested in learning more about the oil and gas sector and are eager to invest in the industry.

Further, the private sector official underscored the importance of a good governance system for the sector and urged that the government ensure there are a “well-managed” Sovereign Wealth Fund and a “transparent” Petroleum Commission.

Among the other dignitaries who delivered remarks during the opening ceremony were the Minister of Telecommunications Catherine Hughes, the Vice President of ExxonMobil Lisa Waters and Managing Director of Valiant Business Media ShariqAbdulHai.

GIPEX aims to be a global initiative which will provide a networking platform for existing petroleum companies, service providers, equipment companies and investors through which interested parties will be informed about opportunities and developments in the oil and gas sector.