In a world marked by intensified competition for investments in the oil and gas sector, Guyana has emerged as a beacon of stability and progress, says Professor Daniel Yergin, Vice Chairman of S&P Global. Speaking virtually at the Guyana Energy Conference and Supply Chain Expo today, Professor Yergin commended Guyana’s exemplary policies, which have positioned the country as a prime destination for high-quality investments in the energy sector.
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“Guyana really sets the gold standard for stable policy to attract high quality investments,” Professor Yergin remarked during his keynote address. He emphasized that Guyana’s commitment to stable policies has facilitated the influx of investments, leading to faster development and substantial revenues for the nation. These benefits extend beyond the energy sector, providing a platform for holistic development that benefits the entire country.
Highlighting Guyana’s remarkable achievements in offshore oil production, Professor Yergin noted that the nation has become the fastest offshore oil producer in history. The rapid growth of Guyana’s oil industry is now poised to surpass that of its neighbour, Venezuela, which has been entrenched in the oil business for over a century.
Meanwhile, the four-day Guyana energy conference, opened with President Irfaan Ali’s address, underscoring the government’s broader vision for economic development and regional integration. President Ali urged investors to explore opportunities beyond traditional oil and energy sectors, emphasizing the importance of supply chain mechanisms for the holistic development of the Caribbean Community (CARICOM) region.
He noted that the conference represents a significant shift in policy, investment, and development perspective. The head-of-state also highlighted the critical role of logistics and transportation investments in advancing economic integration within the region, emphasizing the need to capitalize on market opportunities and build necessary infrastructure to facilitate growth.
President Ali also underscored Guyana’s commitment to leveraging its energy resources for broader regional integration and economic prosperity. By prioritizing supply chain mechanisms and fostering an environment of stability and investment, he noted that the government aims to unlock Guyana’s full potential as a leading player in the global energy landscape.
Nevertheless, according to Yergin, as the international community gathers to discuss the future of energy and economic development, Guyana stands out as a shining example of effective policy-making, strategic investment, and visionary leadership.
