Guyana could become a major gateway for Middle East investments with the creation of a new logistics hub for the United Arab Emirates (UAE), geared at connecting the Middle East country with business opportunities in South America, Central America, the Caribbean, North America and West Africa.
This is according to President Dr. Irfaan Ali who visited the Abu Dhabi Ports’ ultra-modern temperature-controlled vaccine storage warehouse facility in Abu Dhabi, the capital of the UAE. The venue is also the home of the Hope Consortium at KIZAD and the Khalifa Port.
According to a press release from the Office of the President, Dr. Ali said that Guyana’s contingent, which features a large delegation from the local private sector, is on “a very serious mission” in the UAE with the drive to have meaningful discussions and to make impactful decisions.
“We want to be in strong partnerships with Abu Dhabi Ports, seriously connected to opportunities in Brazil in the oil and gas sector, and creating a new logistics hub for the UAE in Guyana,” the Head of State was quoted as saying by his office.
The UAE is a country in the Middle East and has been rated as one of the richer countries of the world. The country, like Guyana, has had massive oil wealth but the country has also been able to diversify its economy over the years.
Importantly, there is a growing indication of the interest of Middle East investors in Guyana, evidenced by the numerous government and private sector meetings that have occurred over the past two days during President Ali’s visit to the UAE.
In fact, the Chief Executive Officer (CEO) of Abu Dhabi Ports and owner, operator, developer and regulator of Abu Dhabi’s maritime infrastructure and Khalifa Industrial Zone (KIZAD), Mohamed Juma Al Shamisi reportedly said that his company is very serious about investing in Guyana.
“We are serious about Guyana, and I promise you we passed the time of thinking, now we are in the implementation stage.
“So what you will see today is the capability of Abu Dhabi Ports,” Al Shamisi reportedly said.
And in response, the President emphasised to the group that his government is willing to facilitate the project by creating incentives and by ensuring that investments made are feasible for all parties involved.
“We are ready to work with you on having that deepwater port ready for not only Guyana but for the region.
And for the most important strategic positioning for the UAE in South America, the Caribbean—in Latin America, I think we could just think about it as an upscaled Panama [Canal] development,” the President posited.
After the discussions, the CEO took the Head of State and his delegation through a guided tour, explaining the operation of the specific departments of the company as well as their work around the globe.
The President was joined by a member of the UAE RoyaL family Sheikh Ahmed Dalmook Al Maktoum of the UAE and representatives of the Guyanese private sector as well as Government Ministers including: Senior Minister within the Office of the President with responsibility for Finance Dr Ashni Singh; Minister of Tourism, Industry and Commerce Oneidge Walrond and Minister of Culture, Youth and Sport Charles Ramson Jr.