European Union (EU) Ambassador to Guyana, René Van Nes recently highlighted the importance of building robust institutions to ensure Guyana’s rapid economic growth is sustained.
During an interview on the Energy Perspectives Podcast, Ambassador Van Nes spoke about Guyana’s increasingly attractive investment climate. He credited the nation’s vast natural resources like oil, gas, forests, and biodiversity—as significant strengths. The Ambassador also praised the government’s leadership in implementing strategic plans like the Low Carbon Development Strategy (LCDS). “The government has a clear plan, such as the Low Carbon Development Strategy, and has shown strong leadership in translating these plans into action,” Ambassador Van Nes said.
He cautioned however that rapid economic expansion brings challenges, particularly in governance.
“Rapid growth requires strong institutions to manage this transformation effectively. Building solid institutions is crucial to sustaining long-term growth,” he added. To this end, the Ambassador acknowledged efforts by the government to strengthen these systems, emphasizing their importance in preparing the country for future opportunities.
Further, Ambassador Van Nes spoke about the EU being a partner in supporting Guyana’s green agenda, particularly in its efforts to combat climate change and promote sustainable development. He highlighted the EU’s commitment to achieving climate neutrality by 2050 under the European Green Deal, a transformative initiative that demands significant changes in how people live, work, and consume.
“While the Green Deal starts in Europe, addressing climate change is a global effort. Guyana’s unique position as a net-negative emitter makes it a critical partner,” the Ambassador noted.
He continued, “Over three-quarters of our program here focuses on the forest. We work with the Guyana Forestry Commission to maintain low deforestation rates and promote sustainable livelihoods for communities dependent on the forest.”
Additionally, the EU has partnered with Guyana in biodiversity initiatives, such as the Global Alliance on Biodiversity. Announced by President Irfaan Ali, this initiative combines advanced science with community engagement to assess and preserve the nation’s rich biodiversity.
Moreover, since the emergence of Guyana’s oil and gas industry, the EU has become a significant buyer of its petroleum products. Ambassador Van Nes revealed that in 2023, approximately half of Guyana’s oil exports were purchased by the European market.
This development, the Ambassador explained, is driven by Europe’s efforts to reduce its dependency on Russian oil and gas supplies. He said, “Guyana, as a trusted supplier, has become an attractive source for European buyers.”
