Minister of Business, Dominic Gaskin, gave assurances to the Canadian private sector that Guyana is a secure place to do business. He cautioned however that the land of many waters will not be a free for all.
The Minister was at the time, addressing a networking reception hosted by the Canadian High Commissioner, Lilian Chatterjee, at her residence yesterday.
“We don’t want foreign companies to come to Guyana believing that this is a free for all and that our entire country can be bought. We want you to come to Guyana with a very clear understanding that this is a good place to do business, a clean place to do business, a profitable place to do business and a secure place to do business,” Minister Gaskin said.
Also attending last night’s reception was Natural Resources Minister of Newfoundland and Labrador, Siobhan Coady. On Monday, Minister Coady signed a technical cooperation MOU with Guyana in areas of oil and gas development.
The Minister encouraged locals to develop their new oil and gas sector to benefit the Guyanese people.
“We have brought some of our great Newfoundland and Labrador companies here today to meet with the Guyanese, to meet with great Guyanese companies, to share in the knowledge transfer that we have been able to gain over the last 20 years,” Minister Coady said.
A 50-member delegation from the Canadian province of Newfoundland and Labrador is in Guyana on a four-day trade mission, which is being facilitated by the Guyana Office for Investment (GOINVEST).
Meanwhile, the Director of the Department of Energy, Dr. Mark Bynoe, said the potential of the trade mission is timely.
“It is through joint ventures that Guyanese business may be afforded the opportunity to exploit mid and downstream opportunities while simultaneously raising their standards and increasing their competitiveness,” Dr. Bynoe said.
The Department of Energy is mandated, among other things, to create an environment to allow for the fostering of efficient and effective management of the oil and gas sector.
Dr. Bynoe said this is being done through the introduction of key pieces of legislation and policies, which when passed, will clearly outline the conditions of engagement and the rules of the game.