Gov’t building diversified economy to bring prosperity to every family – President tells UK trade mission

With Guyana experiencing rapid economic growth, credited to the nascent oil and gas industry, President Dr. Irfaan Ali on Tuesday night said his government’s mission is to ensure one that brings prosperity to every Guyanese family.

“We are not going to work to be the country bragged about, we have to be rooted in who we are as a people and world to build a country in which prosperity comes to every family, prosperity comes to every home,” President Ali said.

The Head of State was at the time addressing a reception for a visiting delegation headed by His Majesty’s Trade Commissioner for Latin America and the Caribbean at the British High Commissioners residence, Georgetown on Tuesday evening.

“Our mission is to build a country and an economy that will function in an environment and in a world 2030 and beyond and be an economy that is competitive, well diversified, strong, at the cutting edge of technology and leading in many areas,” President Ali said.

President Ali outlined a wealth of areas the government is developing in addition to oil and gas. He pointed to food security, healthcare, education, technology, access to fresh water, environmental services, climate services, ecological services and biodiversity services to name a few.

The government is also placing key focus on developing the country’s human resource capabilities and the way business is done. Services are also being developed to be driven by technology to remove subjectivity, President Ali said.

The Head of State noted that the global environment is rapidly changing and Guyana is positioning itself to be able to function in the year 2030 and beyond.

He noted that time is of the essence and speed is a critical factor in the decision-making process and urged the trade delegation to grasp the opportunity to invest.

“The time was yesterday, the moment is now and the opportunity is with you,” he told the trade mission.

Speaking at the event His Majesty’s Trade Commissioner (HMTC) for Latin America and the Caribbean, Jonathan Knott said that the UK has the experience and is willing and able to help Guyana achieve its ambitious goals.

Knott hailed the country’s “impressive transformational trajectory” backed by the government’s willingness to engage and trade “fairly and openly”.

The delegation’s visit is in keeping with President Ali’s meeting with then UK Prime Minister Boris Johnson in April, 2022, where there was an agreement for the UK and Guyana to work closely to strengthen existing bilateral relationships.

Knott noted that the UK’s goal is to add valve and render support to the government and President Ali to deliver the “inspirational vision” he has for the country by working together.

“It’s not about talking about working together. It’s about actually planning to do that. We need to understand how and where Guyana would like us to help enable them to deliver what they would like to,” Knotts said.

He highlighted that the UK recognizes the challenges any emerging economy with an ambitious programmeis likely to face and in these regards is willing to help Guyana.

“We know because we have experience in this region of partnering with governments, of supporting governments, of partnering with companies to make sure projects are delivered on time to standard and to budget,” he said.

He stressed that the UK Government and companies are not “one-hit” organisations and therefore they are not in Guyana to “sell and leave” but rather develop long term relationships and help develop Guyana’s capability.