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25 April 2017 Source

London, United Kingdom – (April 25, 2017) President David Granger said that Guyana, for long term development, has the most exciting investments prospects in the Caribbean and added that the country holds an enviable and strategic position as the link between the South American continent, the Caribbean region and the rest of the world. The President’s remarks, which were made at an investment seminar, organised by the Caribbean Council in London, today, were supported by Mr. Gil Holzman, President and Chief Exective Officer of ECO Atlantic Oil and Gas, which has a stake in oil and gas exploration in Guyana. He said, “With everything combined together under the management of the President and his administration, I think the next two to five to ten years will be very transformational and again, from my personal perspective, this is probably the best investment destination in the world at the moment.”

President Granger and Mr. Holzman were part of a panel, which included Minister of Foreign Affairs, Mr. Carl Greenidge, British High Commissioner to Guyana, Mr. Greg Quinn and Mr. Andy Thorne, Group Chairman of the Kestrel Group, which is involved in the shipping industry in Guyana. The session was facilitated by British Member of Parliament, Lord Bruce of Bennachie and in the audience were business executives from infrastructure, port development, oil and gas, tourism and hospitality and shipping, who are already operating in the Caribbean and Guyana or are interested in doing so, along with Members of the diplomatic community.

The Guyanese Head of State sold Guyana as an exciting investment destination with several advantages and opportunities. “We have the land, we have an intelligent English-speaking population, we have the resources, and I think people who are looking for something different; something unique, will come to Guyana. I am not suggesting that you leave Belize or Antigua or Barbados but I am suggesting for long-term development, Guyana is the best prospect for investment,” he said. President Granger painted a picture of Guyana’s potential and the ‘green’ State development policy, which would see it taking advantage of its eco-tourism product, preserving its environment, pursuing ‘green’ energy development while taking advantage of coming oil and gas revenues to accomplish these goals, declaring that even as the country transitions, it has to ‘walk on two legs’.

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Mr. Andy Thorne, Group Chairman of the Kestrel Group makes a point as British High Commissioner to Guyana, Mr. Greg Quinn and Mr. Gil Holzman, President and Chief Executive Officer of ECO Atlantic Oil and Gas listen attentively.

“Oil and gas is a very attractive prospect… We probably wouldn’t start to produce oil and gas till maybe 2020... We will continue to develop our sources of renewable energy and at the same time use the revenues from the petroleum industry to funnel our development of infrastructure and education in particular, and ensure that other industries could be diversified away from what we call our six sisters; sugar, rice, bauxite, timber and gold and diamonds. Oil and gas is not going to distract us. We are going to ensure that the revenues… go into our Sovereign Wealth Fund, but we will also ensure that we continue to become a ‘green’ state by developing our sustainable energy resources,” President Granger said.

With the need for cheaper energy to boost the manufacturing sector, the Head of State outlined Guyana’s energy generation potential and called for investments in solar and wind energy, biomass and hydropower.

“We can generate electricity from about 100 sites… We have huge savannahs and the sunlight is sufficient to generate electricity in many of our hinterland communities… We are the largest CARICOM [Caribbean Community] sugar producer up to the present time and although there have been uncertainties in market in the European Union, we still have a viable sugar industry, which can generate enough biomass to produce energy,” he said.

Even as the administration works to steadily improve Guyana’s reputation as an attractive investment destination, President Granger told those gathered that progress is already being made, with regard to the legal and regulatory environment. This he said, combined with the fact that Guyana, the only English speaking country on the continent of South America, has a similar common law, parliamentary system and institutional infrastructure that can be found in other Commonwealth countries means that there would be some ease of doing business for companies from those parts of the world.

“We can assure that your profits can be repatriated. We can assure you that our legal system, our Judiciary, our Ombudsman, our Auditor General, our elections are all entirely in consonance with what is required in Western Europe and the Commonwealth. Only last year we had our Local Government Elections, which under the previous administration had been suspended for nearly two decades and when the elections were held, we created three new towns. The urbanisation of our hinterland is proceeding apace. ,” he said.

Supporting this point, Minister Greenidge said that prior to the 2015 elections, there were serious concerns that the device for setting rules and for allocating resources in the various sectors were less than transparent and that there were instances of discrimination, as a result of a number of factors including corruption. “This is something that the current Government has been mandated to address… regulations have been changed, laws have been amended in a wide range of ways, including in relation to money laundering and funding of terrorism, legislation pertaining to the mining sector and the updating of legislation in relation to forestry and the like,” he said.

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In the audience at the Investment Seminar on Guyana were business executives from infrastructure, port development, oil and gas, tourism and hospitality and shipping sectors, as well as some members of the diplomatic community.

From the foreign policy point of view, the President spoke of the various regional and international bodies with which Guyana is affiliated, such as the Union of South American States (UNASUR), the Organisation of American States, CARICOM, Common Market of the South (MERCOSUR), Community of Latin American and Caribbean States (CELAC) and the United Nations. He also updated the gathering on the Guyana-Venezuela border controversy and assured investors that the matter is on its way to being resolved.

The Guyanese Head of State acknowledged, though, that the country has series deficiencies in the area of infrastructural development and noted that Government is focused on comprehensive development plans that include deep water harbours, aerodromes and road and bridge networks that link the coastland to the hinterland. Minister Greenidge added that the infrastructure needed for the sustained development of the productive sectors is inadequate and stated that this is a major priority area for the administration.

He said, too, that the country is working with its neighbours and international partners to look at the development of a deep water port that allows Guyana and other countries in South America to ship their goods to markets in North America and Europe.

Mr. Holzman from ECO Atlantic Oil and Gas, encouraging other investors to take a look at Guyana said that economic boom that Guyana is about to witness as a result of oil production will have a significant effect on several sectors such as real estate, hotels, tourism, airlines, shipping, education and healthcare and will create exciting opportunities.

“You will have 20,000 expats flying into the country and they will need hotel rooms. The big companies that are going to build the infrastructure, they will need areas next to the port. You will need better roads from the airport,” he said.

Nevertheless, Mr. Holzman pointed out that the Government is taking impressive measures in terms of ensuring that benefits of the oil and gas industry redound to the citizens and contribute to national development. He added that while there is a need to develop capacity to manage the sector in Government Ministries and agencies, he said that his interactions with the Ministry of Natural Resources and the Guyana Geology and Mines Commission have been heartening.

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Investors queued up to speak one on one with President David Granger, following the formal presentations. Here the Head of State is pictured in discussion with Director at ION Geophysical, Mr. Folarin Lajumoke.

“These are all very savvy people; they are very responsible. They know that the big opportunity of the oil discovery, which is transformational for the country, should be dealt with very, very carefully… I know that your administration, Mr. President is speaking with everyone there is in the UN, in the United States, here in the United Kingdom, in Norway [and elsewhere] in order to learn from other people’s mistakes, in order to take the right measures going forward, taking the oil opportunity and making it for the greater good of your people and your country and I think you’re taking very impressive measures,” Mr. Holzman said. He also informed the Head of State that his company, which is conducting exploration work in the Stabroek Block, respects the country’s ‘green’ thrust.

Kestrel Group’s Chairman, Mr. Thorne, in his remarks, described Guyana as “the most amazing, magical place” where it is safe and easy to conduct business. “Please go to Guyana; it is an amazing country, listen to the people. The opportunities there are amazing but do the right thing; give back to the local people. Do this for them as well as yourselves. Make money but make it the right way. Give a helping hand when you can. People do not want a handout they want a hand up. So please do the right thing,” he urged potential investors.

Mr. Thorne also spoke of a project that will be implemented in Guyana under the auspices of the Prince’s Trust International. He explained that it targets young people who are unemployed; offering them training in various fields such as tourism, hospitality, port operations, infrastructure and transportation among others and finding them fulltime employment at the end of the programme. He noted that when oil comes on stream there will be an immediate boom in jobs and these individuals will be trained and ready. “It is so important and so valuable that we do this. In Barbados when we started it, I was a little sceptical, but 41 young people went on to the course and 36 ended up in fulltime employment,” he said.

British High Commissioner to Guyana, Mr. Quinn said Guyana is moving in the right direction, particularly as it relates to the ease of doing business and the reduction of corruption. “I think we went up 16 points on the ease of doing business between 2016 and 2017 and that was from 140 to 124 and the corruptions perception index, which went from 29 to 34

We believe that this is an Administration and a Government, which we can and want to work with and which has significant potential going forward,” he said

President Granger also spoke, along with the Rt. Hon. Baroness Anelay, Minister for the Commonwealth and the UN, who he had met with earlier in the day at the Caribbean Council’s House of Lords Annual Reception and met with Member of Parliament and Foreign Secretary, Rt. Hon. Boris Johnson. Details of that engagement will be provided in a subsequent report. The Head of State will have an audience with Her Majesty Queen Elizabeth II tomorrow at Windsor Castle.

Replies sorted oldest to newest

If British investors believed Guyana is the best country to invest, let them take the risk to invest. The British is one of the three rapists that is hoping to gang rape Guyana from progressing to it's full potential. Their interest is the black gold beneath the ocean. Take my word, when they finished with Guyana, it will be like an impoverished country on the African continent. 

FM
Last edited by Former Member
Drugb posted:

God bless this jackass if he can bring in investors who will not come to rape the forest. I doubt that the British has any plans for investment other than gold and timber. 

Granger is scrambling to stabilize the economy since time is catching up with him for making excuses for his poor performance. Twice he failed on his bid to woo investors from Canada and the U.S. I don't see what difference the Britons will make.

FM

The English man is the best sweet talkers.  What have they done to India, arrived in a very rich country and left it very poor.  This is the Brits trying to get into some juice on the oil because the Americans got all.

When they done with Guyana and David of Georgetown (DOG), he shall walk and whine.

FM
Cobra posted:
Drugb posted:

God bless this jackass if he can bring in investors who will not come to rape the forest. I doubt that the British has any plans for investment other than gold and timber. 

Granger is scrambling to stabilize the economy since time is catching up with him for making excuses for his poor performance. Twice he failed on his bid to woo investors from Canada and the U.S. I don't see what difference the Britons will make.

Like you said above, the British smell oil. This is the only investment they are interested in, however exxon et al already got the lockdown on that industry.  The British should be ashamed of themselves, to let another country get an upper hand at raping one of their former colonies. 

FM
Drugb posted:

 I doubt that the British has any plans for investment other than gold and timber. 

Then this will be as it was under the PPP and you screamed that Jagdeo was a genius.

FM
Drugb posted:
Cobra posted:
Drugb posted:

God bless this jackass if he can bring in investors who will not come to rape the forest. I doubt that the British has any plans for investment other than gold and timber. 

Granger is scrambling to stabilize the economy since time is catching up with him for making excuses for his poor performance. Twice he failed on his bid to woo investors from Canada and the U.S. I don't see what difference the Britons will make.

Like you said above, the British smell oil. This is the only investment they are interested in, however exxon et al already got the lockdown on that industry.  The British should be ashamed of themselves, to let another country get an upper hand at raping one of their former colonies. 

Needless to say they don't care about Guyana's benefit, but their own. They did it to India, Africa, and Guyana will be next. 

FM
RiffRaff posted:

if this was PPP, yall will be gushing

We have heard this many times, promise of investments from Grangers supporters, but he came to NY courting investors and the likes of d2 and caribj left the man holding the bag. He went to Canada and the afc contingent abandoned him. Now the same story in Britain with promises of investments. Look at who the major investors are in Guyana, Indians, not Blacks, they only want government jobs. The Black Guyanese like CaribJ and Warrior need to step up to the plate and invest in Guyana. Look how many blacks surround Granger tryng to shake his hands in that photo from the UK, but how many of them will actually invest? zero.

FM
Drugb posted:
 The Black Guyanese like CaribJ and Warrior need to step up to the plate and invest in Guyana.

Why should we when rather than returning to Guyana when your hero Jagdeo was in charge, you continued to suffer in NYC, terrified that your white bosses would shift your job to India, or get an H1B to replace you.

I am no Granger supporter and have nothing good to say about him. YOU however call Jagdeo a hero and screamed that Guyana was an earthly paradise when he ran that nation.  Even as PPP supporters had to flock to Barbados to scrub toilets, cut grass, and meekly move to the back of the bus, or to stand up, when Bajans demanded that they do so.

Despite all your gushing glory for Jagdeo you remained in the USA screaming that others should return.

Granger is incompetent and he is a dunce and because of this Jagdeo will be back after 2020. Why then should I waste time with that cursed country?

 

FM
caribny posted:

Why should we when rather than returning to Guyana when your hero Jagdeo was in charge, you continued to suffer in NYC, terrified that your white bosses would shift your job to India, or get an H1B to replace you.

I am no Granger supporter and have nothing good to say about him. YOU however call Jagdeo a hero and screamed that Guyana was an earthly paradise when he ran that nation.  Even as PPP supporters had to flock to Barbados to scrub toilets, cut grass, and meekly move to the back of the bus, or to stand up, when Bajans demanded that they do so.

Despite all your gushing glory for Jagdeo you remained in the USA screaming that others should return.

Granger is incompetent and he is a dunce and because of this Jagdeo will be back after 2020. Why then should I waste time with that cursed country?

 

The Indians invested massively under the PPP. Now it is the Blackman turn to put up or shut up. Many of you have millions of dollars in the US, CA and GB but you don't have the confidence in your hero Granger to put that money to risk in Guyana.  You expect the collie man to bear the burden and risk of entrepreneurship. 

As for myself, I had and still have investment in Guyana, under the PNC/PPP and now again the PNC. However under PNC version 2 we are seeing huge losses as the economy tank and jackass Granger tell the people to sell tamarind ball and fry plantain. 

FM

Many have forgotten Guyana's History. The ABC countries appear to be propping up the Jackass for oil. We are in for a very rough patch.

FM
Last edited by Former Member
Drugb posted:
caribny posted:

Why should we when rather than returning to Guyana when your hero Jagdeo was in charge, you continued to suffer in NYC, terrified that your white bosses would shift your job to India, or get an H1B to replace you.

I am no Granger supporter and have nothing good to say about him. YOU however call Jagdeo a hero and screamed that Guyana was an earthly paradise when he ran that nation.  Even as PPP supporters had to flock to Barbados to scrub toilets, cut grass, and meekly move to the back of the bus, or to stand up, when Bajans demanded that they do so.

Despite all your gushing glory for Jagdeo you remained in the USA screaming that others should return.

Granger is incompetent and he is a dunce and because of this Jagdeo will be back after 2020. Why then should I waste time with that cursed country?

 

The Indians invested massively under the PPP. Now it is the Blackman turn to put up or shut up. Many of you have millions of dollars in the US, CA and GB but you don't have the confidence in your hero Granger to put that money to risk in Guyana.  You expect the collie man to bear the burden and risk of entrepreneurship. 

As for myself, I had and still have investment in Guyana, under the PNC/PPP and now again the PNC. However under PNC version 2 we are seeing huge losses as the economy tank and jackass Granger tell the people to sell tamarind ball and fry plantain. 

 

FM

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