Guyana President says country’ oil and gas sector will play a critical role in country’s development

Dr. Irfaan Ali, the President of Guyana has said that the oil and gas sector of the country will play a vital role in the development of the country and funds from this sector will finance the education and health sectors. 

The President remarked: “What will create an enabling environment, one that will secure the existing economy and take us into the future. We have to address what are the hindrances to our development. One, the cost of energy. Human capital. The lack of transformative infrastructure. A healthcare system that is not modern. An education system that needs continuous modernisation. We have set ourselves some very ambitious goals and a strategic vision in how we’re going to achieve this. First of all, we have to build a world-class education system. And this is where the resources that will come from oil and gas will go. To ensure we have a world-class education and healthcare system”. 

“We must open up new opportunities in agriculture, industries, manufacturing, aquaculture. The wealth must be able to create new opportunities of growing new forms of wealth, while at the same time stabilising existing sectors. That’s why we will continue to invest in key industries that have important social and economic impact, like GuySuCo. So, the transformation you will see from an infrastructure standpoint will see opportunities for deep-water harbours. New shore-based facilities. The reduction of travelling time and the cost of doing business,” the President said. 

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