Finance Minister in talks with Emirates state investment company

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Finance Minister Dr Ashni Singh on Wednesday held talks with the leaders of Mubadala, the second biggest sovereign investor in the United Arab Emirates, pointing to areas ripe for investment in Guyana.

Mubadala is a US$243 billion business that spans six continents with interests across multiple sectors and asset classes. Last year, it invested US$29 billion, the most ever in a single year.

Dr Singh is in the UAE as part of President Irfaan Ali’s delegation to Expo 2020 in Dubai.

At the meeting held with Mubadala Chief Executive Officer Musabbeh Al Kaabi and his delegation, the Finance Minister pointed out the range of investment opportunities in Guyana.

“These include: the oil and gas sector which is poised to exceed one million barrels a day before the end of the decade; non-oil extractives such as gold, bauxite, manganese, and other minerals, with a number of international large scale operations already set to ramp up their production plans in the near term; tourism and hospitality including new and emerging sub-sectors such as the development of cruise ship facilities as well as yachting marinas; world class medical and educational facilities, including to provide medical care and education as services for export; as well as information and communications technology and others.”

The meeting took place at Mubadala’s headquarters in Abu Dhabi.

Minister Singh alluded to the several characteristics that make Guyana one of the most rapidly growing economies of the world and one of the most attractive destinations for investment globally under the leadership of President Ali.

According to the Ministry of Finance, the Mubadala team welcomed the information shared by Minister Singh and the delegation on the Guyanese economy and associated investment opportunities in Guyana.

They sought various clarifications which were addressed by the Guyanese team and Mubadala signaled interest in advancing discussions in a number of specific areas.

The two sides committed to advance these discussions as appropriate, the Ministry of Finance stated.

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