American Chamber of Commerce Guyana branch launched as country gets ready for first oil

A branch of the American Chamber of Commerce (AmCham) was launched on Monday evening in the South American country of Guyana, at the Guyana Marriott Hotel in the country’s capital city, Georgetown.

With the country racing towards becoming an oil producer by 2020, this organization intends to cater to a growing number of United States companies investing in oil and gas related and other services.

President of the organization, Zulfikar Ally, said, “Guyana’s recent oil discovery positions the nation to be a key player, both regionally and internationally. A hub of economic activities that is likely to transform the nation in ways only possible in our wildest imagination.”

Ally noted that this could only be realized in an environment that is conducive to the growth and development of enterprise.

“AmCham Guyana is committed to fostering strategic relationships with both the private sector and Government of Guyana to encourage viable and valuable US investment locally,” he stated.

US Ambassador to Guyana, Perry Holloway, said the launch of the organization presents a great opportunity for the expansion of US/Guyana trade and business opportunities and partnerships. “With the right policies, Guyana could become one of the richest countries in the hemisphere in terms of per capita Gross Domestic Product…The real job creation will not be from oil, but rather in the sectors that the Government decides to invest in using the oil revenues.”

Vice President of the US Chamber of Commerce, Anne McKinney, applauded the efforts of all stakeholders for the successful launching of AmCham Guyana.

In brief remarks, she said, “As Guyana transforms its economy, the creation of an AmCham in Guyana is a sign of the commitment of the Private sector as well as an opportunity to continue to attract increase US investment from a wide variety of sectors in addition to oil and gas.”

Minister of Business, Dominic Gaskin, said AmCham Guyana will complement and add value to the structures that already exist locally. “I am satisfied that some Guyanese are already benefitting from what is happening in that sector and that many more will benefit once oil production begins. I am also satisfied that our Government is doing everything it can to ensure that Guyanese for generations to come will benefit from Guyana’s oil.”

Mr. Gaskin further thanked the organization for recognizing the value that Guyana possesses. “Between oil revenues and the circulation of oil money in Guyana through local procurement, through local employment and through local spending by expatriate employees or contractors or consultants and all professionals, Guyana’s economy will experience significant growth over the next decade and beyond.”

AmCham is affiliated with the US Chamber of Commerce, the largest federation of businesses in the world as well as the Association of American Chambers of Commerce of Latin America (AACCLA) which has offices in twenty-four countries within the Caribbean and Latin American region.