President Dr Irfaan Ali has charged the Guyana Defence Force (GDF) with the responsibility of safeguarding the US$30 billion oil investments made in Guyana’s Exclusive Economic Zone (EEZ). The Head-of-State was at the time speaking at GDF’s Annual Officers Conference.
EEZ as it is commonly referred to is a designated area of the ocean in which a sovereign State, like Guyana, has special rights regarding the exploration and use of marine resources, including energy production from water and wind.
President Ali told officers of the GDF that the investment is not only important for the oil and gas sector but also significant for the continuous flow of oil wealth, which he claimed is geared at improving the lives of Guyanese.
“There’s over US$30 billion dollars involved in investment in the EEZ. We must safeguard this investment. This is responsible for generating significant revenues for the economic and social transformation of the country,” the president explained.
Meanwhile, with regard to improving the capabilities of the army, President Ali announced that plans are underway to enhance its Air Corp. and Coast Guard, two critical aspects of the nation’s security architecture.
He further highlighted that the administration has invested significantly into the GDF. He alluded to the army’s improved fleet of vessels, vehicles, and aircraft, and technological capabilities through the acquisition of equipment and supplies.
“The force’s readiness is being enhanced to allow it to better respond to incursions and invasions and to protect the country’s natural and national assets and territorial integrity. We have to and we are investing in the right technology to support your work, and the right pieces of equipment to support your work,” the president noted.