By Kurt Campbell
Kurt@newsroom.gy
At the inaugural International Business Conference held at the Guyana Marriott Hotel in Georgetown Tuesday evening, President Dr. Irfaan Ali outlined a clear vision for the country’s future: to build long-term sustainable growth, not to establish itself as a regional powerhouse.
Speaking to a room of investors and business leaders, he emphasized that while Guyana is strategically positioned as a competitive partner, its primary objective is to foster enduring growth across the region.
“Let me be clear, we are not trying to be a regional powerhouse,” President Ali stated.
“Our goal is to build long-term, sustainable growth, positioning ourselves as a competitive partner in this region and beyond.”
He pointed to the necessity of regional cooperation, noting that no country can succeed alone in today’s interconnected global economy.
“We must work together, as a region, to move forward,” Dr. Ali opened his presentation by saying.
He would soon after allow a dozen spontaneous questions from those investors and policy makers in the room, the answers to which formed the basis of his presentation.
The President was pointed to note the ongoing collaboration between Guyana and Suriname even as Guyana makes strides in establishing a training hub for deep-water offshore industries.
This ambitious initiative will position the country as a leader in energy, particularly within the oil and gas sectors.
To this end, President Ali highlighted the importance of partnerships in enhancing regional capabilities.
“This will not just be a facility for oil and gas training; it will be a center for everything offshore, serving as a global hub,” he said.
With an investment exceeding $1 billion, the hub will offer advanced training programs, fostering human resource development to support offshore energy operations across the region.
The hub is expected to provide state-of-the-art simulations and training infrastructure, including the world’s largest Full-Scale Floating Offshore Simulator (FESO), which will be pivotal in preparing the workforce for future deep-water exploration and production.
“This investment is not just about enhancing our local industry; it’s about setting up a globally competitive center for energy excellence,” Ali emphasized.
President Ali also spoke about the critical need to integrate regional energy infrastructure, transport, and logistics. He underscored that Guyana’s growing energy capacity, particularly in renewable energy, offers a unique opportunity to create a sustainable energy network across the region.
“Energy resilience is key to our future,” Ali remarked, highlighting plans to connect energy grids across countries like Brazil, Venezuela, and Suriname.
He explained that integrating these infrastructures would not only provide energy security but also lower costs for industries and consumers alike.
“We are already seeing energy demand outstripping supply, and we must act now to create a regional energy mix that supports growth,” he said.
In addition to energy integration, the President spoke about the importance of transportation and logistics.
Guyana and Suriname are working to improve their physical connectivity, including the construction of a bridge across the Corentyne River, to facilitate smoother trade and investment flows.
Ali also touched on the development of deep-water ports and logistics hubs, which would bolster the region’s manufacturing and industrial capacities.
“Imagine the possibilities with reliable, competitive energy and integrated logistics. We could transform the region into a manufacturing and industrial hub, serving a market of over 400 million people,” he said, referring to the economic potential of the wider South American market.
President Ali circled back several times during his presentation to reiterate the importance of regional cooperation for long-term success.
He noted that the Caribbean and Latin America have a collective GDP of over $5 trillion, and with strategic policy making, the region can transform itself into a competitive global player.
“We must ensure that we create a platform based on shared values, common goals, and mutual respect to build long-lasting and resilient partnerships,” he said, calling for continuous dialogue and collaboration among regional leaders.
This speech set the tone for the conference, as business leaders and policymakers look to the future of energy, infrastructure, and regional collaboration.
