Guyana’s Minister of Natural Resources, Vickram Bharrat, told a team of investors from Dubai during a recent meeting that significant business opportunities exist across several sectors, including areas outside of oil and gas.
The Natural Resources Ministry said Saturday that a high-level team from the Private Office of His Highness Sheikh Ahmed Dalmook Al Maktoum, member of the ruling family of Dubai paid a courtesy call on Mr. Bharrat to seek and discuss investment opportunities, and strengthen collaboration with Guyana.
The team, which included Mr. Patricio Balmaceda and Mr. Gaspar Lino, expressed an interest not only in the oil and gas sector but also in mining, forestry, and agriculture.
“As such, the team over the next few days will be meeting with other senior government functionaries and stakeholders for a more informed assessment of their investment interests,” the Ministry said.
Mr. Bharrat, during his engagement with the investors, stated that Guyana is open for business and is hoping to diversify and strengthen the country’s traditional sectors. He pointed out that the government will not depend solely on the country’s oil and gas resources. Further, the Natural Resources Minister outlined opportunities available within the mining and forestry sectors for development and value-added activities.
In August, First Lady of Guyana, Mrs. Arya Ali participated in the first of a series of meetings, which was organized by the Dubai Vigilance Group (DVG) to reflect on the role of women in today’s society and one of the proposals tabled was the formation of a Caribbean-Dubai Chamber of Commerce. The meeting, which Her Royal Highness Sheikha Afra Dalmook of Dubai initiated was the first of its kind between the United Arab Emirates (UAE) and leaders of the Caribbean Community and Common Market (CARICOM).
Guyana, considered to be the world’s newest oil and gas hotspot with approximately 9 billion barrels of oil equivalent resources, has been attracting expertise and business interest from countries across the region and world.
Dubai has approximately 4 billion barrels of oil in reserve and holds the second place in terms of oil reserves in the UAE.