Friday, September 29, 2023

Guyana, United States set to sign ‘Growth in the Americas’ MoU to push energy, infrastructure investments

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U.S. Secretary of State Michael R. Pompeo’s visit to the new oil producing country of Guyana will see the signing of a Memorandum of Understanding (MoU) geared towards improving the investment environment in the South American nation.

According to a Senior State Department official, on Friday Mr. Pompeo will meet with Guyana’s Foreign Minister Hugh Todd and with CARICOM Secretary-General Irwin LaRocque to discuss U.S.-Caribbean issues.

“He will thank CARICOM for its essential role in supporting Guyana’s democratic process as its electoral count dispute played out,” the State Department official said. The United States and Guyana will exchange diplomatic notes for joint maritime patrols to interdict narcotics.:

This step, the State Department official said, will help provide security for Guyanese and American people.

“The Secretary will also sign a Growth in the Americas memorandum of understanding. This will permit Guyana to improve its investment enabling environment so that the country can benefit from transparent infrastructure investment that respects Guyana’s sovereignty,” the State Department official added.

According to the State Department, Growth in the Americas centers on building an enabling environment for private sector investment in energy and infrastructure that is transparent, competitive, and in line with international best practices. It helps countries improve their regulatory frameworks and procurement structures to meet the requirements of limited-recourse project financing while facilitating infrastructure sector projects from early-stage feasibility studies through final investment decisions.

Growth in the Americas alsoseeks to connect the U.S. private sector to opportunities in the region to promote market diversification, energy security, and continued growth.

Secretary Pompeo will also discuss with Guyana’s leaders the impact on their country of the crisis in Venezuela, which is the hemisphere’s largest refugee and humanitarian crisis.

The Secretary will travel to Paramaribo, Suriname; Georgetown, Guyana; Boa Vista, Brazil; Bogota, Colombia; and Plano, Texas, from September 17-20, 2020. 

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