CGX Energy and its partner FEC have entered discussions with the University of Guyana (UG) and Trent University on a programme to address major deficits in training and research in the South American country, related to the development of the sustainable sectors of the Guyanese economy.
This will see the Launch of the CGX-FEC Advanced Academic and Research Programme in Sustainable Transformation of Guyana set to take place on Thursday at UG’s Turkeyen Campus.
The University of Guyana said the country is poised for massive economic growth but faces a serious challenge with respect to absorptivity for this growth among the local population and in the non-petroleum sectors. This has become more apparent with the advent of significant commercial oil discoveries offshore since 2015, which has seen the country’s reserves of petroleum climbing to more than 6 billion barrels of oil equivalent.
The University of Guyana, which has been at the center for higher education training for 57 years, is expected to respond rapidly to these future needs. Historically, UG has been in need of intensive resource inflows to solve critical deficits which have developed over a long time. Chief amongst these is a paucity of academics with terminal degrees. This has adversely affected virtually the quality and execution of all aspects of the University’s work.
Most importantly, the growth of its higher education programmes and its research agenda have been severely crippled by the inability to attract and retain the best staff and to fund and enable a nationally impactful research programme, UG said.
The CGX-FEC program is a 5-year, CDN$5 million investment initiative, geared towards the creation of a cadre of highly qualified individuals at UG who are expected to become the pivotal trainers of the next generation of highly skilled Guyanese required to truly transform the country’s economy into a robust sustainable economy.
UG said the program is targeted to address the UN’s Sustainable Development Goals as they apply to Guyana.