Minister of Natural Resources Vickram Bharrat told Trinidad’s CNC3’s Ryan Bachoo that Guyana has earned the unique distinction for responsibly balancing energy production with environmental protection.
The interview was conducted on the sidelines of the recent Global Biodiversity Alliance Summit held at the Arthur Chung Conference Centre last month, but has only been aired recently.
“Guyana is seen as a model when it comes to balancing economic development with environmental sustainability,” Minister Bharrat said.
Minister Bharrat explained that the country’s approach is deeply rooted in ensuring energy security while simultaneously protecting biodiversity and investing in people.
A key part of that approach, he noted, is using oil revenues to address poverty and improve the quality of life.
“Getting people out of poverty requires investing in them, investing in the infrastructure. That investment is coming predominantly from the energy sector,” the Minister affirmed.
This view is echoed by the Harvard International Review, which recognised Guyana’s proactive and strategic investment model. The publication pointed to two critical strategies: investing in infrastructure and managing revenues through a sovereign wealth fund.
“Guyana has already taken positive steps in this regard,” the review stated.
Indeed, major infrastructure investments are transforming sectors such as healthcare, education, transportation, and energy. These include 12 new hospitals, multiple schools, seven hotels, two major highways, Guyana’s first deep-water port, and a large gas-to-energy plant at Wales, expected to double the country’s energy output and halve electricity costs.
“Infrastructure investments like these must continue,” the review noted, reinforcing the long-term benefits of oil revenue when used strategically.
The second pillar, diversification through a sovereign wealth fund, is being executed through Guyana’s Natural Resource Fund (NRF), which is designed to ensure transparent and sustainable management of oil earnings for future generations.
Minister Bharrat stressed the importance of managing natural resources in a way that delivers tangible results for citizens.
“There are many countries that say the environment is important, and we share that view. But our people deserve a better life, too. We must be allowed the opportunity to responsibly explore and produce our natural resources, so we can uplift the lives of our people and ensure they enjoy the quality of life seen in many developed nations,” he explained.
As Guyana continues on its development path, Minister Bharrat reaffirmed the government’s commitment to responsible governance and long-term prosperity.
“We are on the right track based on how well we have managed the sector and the country over the last five years. So, in the next five years, we want to continue on that road, ensuring that we manage the resources in a manner in which all Guyanese will benefit,” he said. (Department of Public Information)
