Investments not affected by political climate- GO-Invest


Despite fears from the business sector about the current political climate affecting investments, the Guyana Office For Investment (GO-Invest) said it has not received any negative feedback from investors.

Chief Executive Office of Go-Invest, Owen Verwey at a press conference on Monday noted that the agency has “not had any sort of negative indications from any businesses that are looking to invest in Guyana.”

In fact, he noted that “the Guyana environment for oil and gas is so robust, that everyone, for whatever reason will want to be here.”

Asked whether he sees any such issue going forward, Verwey said it is too early to make a prediction.

The country is awaiting a date to be named for General and Regional Elections following the passage of a No-Confidence motion in the Government on December 21.

Chief Executive Officer of GO-Invest Owen Verwey

Over the past weeks, the Private Sector bodies including the Georgetown Chamber of Commerce and Industry (GCCI) and the Guyana Manufacturing and Services Association (GMSA) raised concerns about the current political climate and its impact on businesses.

President of the GMSA, Shyam Nokta at the body’s recent Annual General Meeting referred to the concerns raised by the private sector as it regards investor confidence and a decline in commercial activity.

The GCCI had referred to a study it conducted and reported that two in every three businesses experienced some form of a decline in commercial activity.

On December 21, a No-Confidence vote was passed in the Government paving the way for General and Regional Elections in 90 days, with an extension only possible through a Parliamentary vote of two-thirds of the members of the National Assembly.

The 90 days will come to an end on March 21. However, the President is yet to name a date for the elections.

Following meetings with the Opposition Leader, Bharrat Jagdeo and Chairman of the Guyana Elections Commission (GECOM), last week, the Head of State said he is awaiting guidance from GECOM which will allow him to make a proclamation date.



So far, GECOM’s Commissioners have not agreed on whether the Commission can be ready to hold elections by the end of April 30 when the current voters list will expire.

“Once the Commission says it is ready, I will announce a date and I hope that date is as early as possible…I am satisfied that the will exists on both sides, the Government side and the Commission’s side and we now have to make that decision as to when elections will be held in Guyana,” the President had stated.

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