Guyana’s rapid economic transformation has garnered international attention, particularly in its dramatic climb up the development index. This was highlighted by King’s Counsel and world renowned women’s rights advocate, Lady Cherie Blair.
During an episode of the Energy Perspectives podcast, Blair commended Guyana for its significant improvements, stating, “Guyana has come so far when you think about how it has leaped up the tables of economic growth.” She noted that the country has dramatically risen in the development index, moving up over 100 places and reaching the 47th position among Organisation for Economic Co-operation and Development (OECD) countries. This leap she said signifies a substantial advancement in creating opportunities and fostering an inclusive economic environment.
In her discussion, Blair emphasized the potential of Guyana’s burgeoning oil and gas sector. She referred to the sector as a crucial driver of economic growth but stressed the importance of leveraging this growth to benefit the broader population. “The oil and gas business is not the be all and end all. The oil and gas is a means for economic development more generally,” she remarked.
Blair also highlighted the importance of supportive laws and policies in sustaining this growth. She called for continued efforts to create an enabling environment for all citizens to participate in and benefit from the country’s economic activities. “You need the government to create the enabling environment,” Blair said, underscoring the necessity of legal frameworks that support business development and gender equality.
Reflecting on her recent visit to Guyana, Blair expressed admiration for the resilience and entrepreneurial spirit of the Guyanese people. She
said, “Guyana is bursting at the seams with opportunities,” emphasizing that the rapid economic development taking place in the country offers immense potential for its citizens.
Blair also underscored the importance of inclusive growth, stating that the wealth generated from the oil and gas industry should be invested wisely to create opportunities for women in various sectors such as construction, telecommunications, and education.
As the country continues its rapid ascent, Lady Blair said the contributions of women entrepreneurs, supported by targeted initiatives and enabling environments, will be essential to sustaining and enhancing this progress.
